SEATTLE--(BUSINESS WIRE)--Frazier Healthcare, a leading provider of growth capital to healthcare companies, announced today that Chris Karkenny has joined Frazier's Growth Buyout team as an Operating Partner. Mr. Karkenny will work with the Growth Buyout team in identifying investment opportunities in the healthcare services space and other related healthcare sectors.
“We are excited to have Chris join our Growth Buyout team,” said Dr. Nathan Every, General Partner. “His strong leadership skills and experience in buying, building and growing healthcare companies will be tremendous assets we look forward to leveraging.”
Mr. Karkenny has over 25 years of experience managing high growth environments, completing repositionings, restructurings and consolidations, and executing turnarounds to maximize shareholder value in both public and private companies. Through the successful repositioning strategies and sales of three public companies, Mr. Karkenny has created more than $8 billion in value for shareholders. As an operator, he has managed cost savings initiatives of over $300 million and led and integrated more than 25 mergers and acquisitions.
“I look forward to actively supporting the Frazier Healthcare team in seeking new opportunities,” said Mr. Karkenny. “Frazier’s strong commitment and successful track record in supporting healthcare companies are key differentiators in today’s environment. I am thrilled to be joining this long established team.”
Prior to joining Frazier, Mr. Karkenny served as Executive Vice President and Chief Financial Officer at Apria Healthcare, a national healthcare services company with over $2 billion in revenue, 550 locations and 14,000 employees. While at Apria, Mr. Karkenny orchestrated the company’s repositioning through a key $350 million acquisition creating the largest national home infusion company (which was eventually sold to CVS Caremark for approximately $2.1 billion), and developed the infrastructure to support rapid growth and led numerous initiatives to streamline operations and save significant costs. He also led the sale of Apria to The Blackstone Group in a take private transaction. Prior to Apria, Mr. Karkenny served as Senior Vice President of Corporate Development & Finance at PacifiCare Health Systems, a national health plan where he helped engineer its sale in 2005 to UnitedHealth Group in a transaction with an enterprise value of $9.2 billion. Prior to that, Mr. Karkenny held executive leadership positions at Quarterdeck Corporation (QDEK on NASDAQ, which was sold to Symantec), NetCatalyst and ICS.
About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of venture and growth buyout capital to healthcare companies. With over $2 billion under management, Frazier Healthcare has invested in more than 150 companies across the entire development spectrum. From venture investments to leveraged recapitalizations, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies. The firm’s Growth Buyout team focuses on investments in healthcare services, pharmaceutical services, healthcare information technology, products, supplies, and specialty distribution. The firm’s Life Sciences team focuses on investments in development stage therapeutics, specialty pharmaceuticals, and related areas that are addressing unmet medical needs through innovation.
For more information about Frazier Healthcare, visit the company's website at www.frazierhealthcare.com
