Waud Capital Partners Names Ex-Bain Exec Bellaire as Operating Partner

Dec 8 2016 | 10:18pm ET

Waud Capital Partners has named veteran healthcare executive David Bellaire as operating partner, effective immediately. 

Bellaire’s appointment expands the team to 27 investment and finance professionals, three operating partners and one executive partner at the firm, according to a statement provided to FINalternatives. Bellaire will be based in Chicago, will serve on the boards of several Waud Capital healthcare services platforms, and will play a leading role in identifying new investment opportunities.

Bellaire brings more than 30 years of executive and management experience in healthcare services and healthcare IT, the company said. He was most recently a senior advisor with Bain & Company, which followed more than ten years as a senior partner and director at Bain overseeing insurance, provider and healthcare services, including healthcare IT sectors.

Prior to Bain, Bellaire was executive vice president and chief operating officer for a NASDAQ-listed company focused on health solutions, pharmaceutical services and medical benefit operations, and led the health technologies consulting business at Booz Allen Hamilton. Throughout his career, he has held senior executive and advisory roles at insurer, provider, and healthcare solutions companies and was involved with large M&A transactions and restructurings. 

“David represents the strong caliber of executive talent that differentiates our firm,” said Matt Clary, partner at Waud Capital. “He brings significant operations and strategy experience and expands our depth and breadth across multiple healthcare services sectors. His leadership expertise will serve us well as we continue to deploy our proven investment approach – identifying top CEO talent and investing in the strongest platforms for growth.”

Founded in 1993 and based in Chicago, Waud Capital Partners acquires or creates platforms in the U.S. lower middle market through control-oriented growth equity investments, industry consolidation, buyouts or recapitalizations. The firm targets services businesses in large, growing, fragmented markets in healthcare services and business and technology services, seeking to invest $50 million to $100 million (including follow-on investments) of total equity in each platform company. The company has approximately $2.1 billion in AUM and has successfully completed more than 195 investments since inception. 

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