KKR healthcare chief Momtazee to leave firm

By Sarah Pringle and Chris Witkowsky

Longtime healthcare executive Jim Momtazee is departing KKR more than two decades after joining the global buyout firm, according to people familiar with the matter.

Ali Satvat and Max Lin, already partners and senior leaders of the healthcare team, have stepped up to co-lead KKR’s healthcare efforts in the Americas, two of the people said.

Momtazee, based in the firm’s Menlo Park, California, office, worked as head of the healthcare industry team within KKR’s Americas Private Equity platform since 2001. The executive was also a member of KKR’s investment committee.

Momtazee is leaving to pursue other opportunities, one of the people said. It’s not clear if he is joining another firm.

The firm announced Momtazee’s departure at its annual meeting in late June, two of the people said.

No key-person issues have been triggered in connection with Momtazee’s departure, another person said.

Momtazee initially joined KKR in 1996 from Donaldson, Lufkin & Jenrette, later rejoining the firm in 2001 after attending business school. The executive oversaw healthcare private equity transactions and the firm’s Healthcare Strategic Growth Fund.

HCSG, led by KKR member Satvat, raised $1.45 billion in November 2017 to make equity investments of up to $100 million in the healthcare sector.

Satvat joined KKR in 2012, having formerly held various positions at Apax Partners, Audax Group and Blackstone Group. Lin joined the firm in 2005 from Morgan Stanley.

During his time at KKR Momtazee served on many board memberships, including PRA Health Sciences, Heartland Dental, BridgeBio, Envision Healthcare, Global Medical Response, Medical Device Manufacturers Association and Ajax Health.

KKR has been a prolific buyer of healthcare assets in recent years.

The firm in March 2019 completed its more than $1.3 billion acquisition of BrightSpring Health though existing portfolio company PharMerica.

Through HCSG, KKR in February formed Falcon Vision to target emerging ophthalmic medical device and pharmaceutical companies.

The growth fund in 2018 created autism-treatment platform Blue Sprig Pediatrics, as well as invested in biotech Impel NeuroPharma and healthcare IT startup Clarify Health Solutions.

KKR declined to comment.

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