Goldman Sachs’ Jo Natauri and Leonard Green & Partners’ Alyse Wagner

From our Women's PE Briefs - week commencing August 23, 2021

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Jo Natauri, who is global head of private health care investing within Goldman Sachs Asset Management, oversees the investment bank’s purchase of a portfolio company of Leonard Green & PartnersAlyse Wagner. Goldman Sachs and Charlesbank Capital Partners have entered into a definitive agreement to acquire a majority ownership of MDVIP from Leonard Green and Summit Partners. Terms were not disclosed.

Based in Boca Raton, Fla., MDVIP provides personalized membership-based health care. It has a network of more than 1,100 primary care physicians serving 357,000 patients. Under the MDVIP model, doctors have small practices compared with those in traditional high-volume medicine. This, in turn, allows them to spend more time with patients and provide attentive, individualized care with an emphasis on preventive health and wellness.

In a statement, Jo said MDVIP “has an impressive track record of delivering business growth to investors and proven health care outcomes that benefit patients, physicians and the health care system at large. The company’s history and ability to adapt to a rapidly changing health care environment make it a strong addition to our investment portfolio, and we look forward to partnering with Charlesbank and the MDVIP management team.”

Also in a statement, Alyse said MDVIP “continues to transform primary care for Americans across the country. It has proven to be a successful model for both doctors and patients, and we have great confidence in the future of its business.” Alyse served on MDVIP’s board.

Jo earlier this year guided Goldman’s involvement with EQT Private Equity in the $8.5 billion purchase of Parexel from Pamplona Capital Management and also oversaw the firm’s involvement in the $7 billion merger of Datavant and Ciox Health to form the largest neutral and secure health data ecosystem. Also, this year, a company on whose board Jo served, Flywire, went public. Goldman Sachs Asst Management oversees more than $2 trillion in assets, with the private equity business having invested more than $75 billion.

MDVIP is the second liquidity event for Alyse in 2021. Earlier this year, LGP and Singapore’s GIC sold a stake in ExamWorks, LLC to CVC Capital Partners in a deal that reportedly valued the company at between $4 billion and $4.5 billion. Alyse is on the boards of Aspen Dental Management, CHG Healthcare Services, RestorixHealth and AerSale, which went public late last year through a merger with a special purpose acquisition company. Alyse is also involved in the firm’s investments in MultiPlan, North American Partners in Anesthesia and Prospect Medical. Alyse, a partner, has been with LGP since 2003 and spoke at this year’s virtual Women’s Private Equity Summit. Los Angeles-based LGP was founded in 1989 and has invested in more than 95 companies.

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