Exclusive: Aurora spinoff Varsity Healthcare raises $200 mln

  • Firm founded in late 2012 by veterans of Aurora, Fenway
  • Firm based in Los Angeles
  • Firm may be closing in on its first acquisition

David Alpern, partner at Varsity Healthcare Partners, co-founded the firm after working as a partner with Aurora Capital, where he led the firm’s healthcare investing practice and served on its investment committee, according to the firm’s website. He also worked for Microsoft’s merger and acquisition group and as a senior associate at GTCR Golder Rauner.

Bradley Smiedt, now partner and co-founder at Varsity Healthcare Partners, served as the co-CEO of Revolution Mobility, a manufacturer of branded medical equipment,  and served as vice president at Fenway Partners, where he worked on the firm’s investments in RoadLink, Canadian Fastfrate, Easton-Bell Sports and Greatwide Logistics. 

Varsity Healthcare Partners exclusively targets healthcare provider platforms with up to $10 million in EBITDA, according to its website.

The firm said it is seeking targets that “demonstrate clinical leadership and the associated differentiated geographical referral share in healthcare niches that are either non-discretionary by nature and/or whose unique business model provides for high quality care at a quantifiably lower cost.”