Memphis, Tennessee, April 2, 2007 - SSM Partners, a leading venture capital firm focused on healthcare and technology-enabled services investments, announced today that well-known healthcare venture capital investors Larry Coleman, PhD and David Swenson have joined the firm as Venture Partners.
Dr. Coleman and Mr. Swenson are the founders of Coleman Swenson Booth (CSB), one of the first dedicated healthcare venture capital funds in the U.S. As principals of CSB for over twenty years, Dr. Coleman and Mr. Swenson have invested in over 80 healthcare companies. Past investments include such highly successful companies as Surgical Care Affiliates, Pyxis, Integrated Health, Long Term Care Group, Coventry and Vitas.
“We are truly excited about our relationship with Larry and Dave,” said SSM managing partner Jim Witherington. “Having seeded some companies that grew into healthcare industry giants, they bring a wealth of proven experience and a breadth of relationships that add meaningfully to SSM’s healthcare investment practice. Healthcare has been an important part of our investment strategy for over fifteen years and we firmly believe that Larry and Dave will help us achieve our goal – to help talented entrepreneurs build the market-leading healthcare companies of tomorrow.”
“Larry and I are very excited to be working with the terrific team at SSM Partners. We have come to know them well over the last several years in our capacity as co-investors, and we believe the combination of our strengths and networks will produce great opportunities,” said David Swenson. In their capacity as Venture Partners, Dr. Coleman and Mr. Swenson will be integrally involved in the sourcing, evaluation and management of healthcare investments for SSM. Dr. Coleman and Mr. Swenson will be based in Nashville, Tennessee and will evaluate potential deals throughout the United States.
“Larry and Dave know what it takes to build innovative businesses in the healthcare field. They are a perfect match for this role and we’re excited that they are now a part of our healthcare team” says Casey West, SSM Partner and active healthcare investor for the firm.
Dr. Coleman’s healthcare industry experience spans over 30 years. Prior to entering the venture capital industry, Larry held senior management positions at Minnesota Mining & Manufacturing (3M), SmithKline Instruments and Diagnostics, and Damon Clinical Laboratories. In 1983, Larry entered the venture capital industry as President of HCA Capital Corporation, a subsidiary of Hospital Corporation of America.
He co-founded and serves as Managing General Partner of Coleman Swenson Booth, one of the first dedicated healthcare venture capital funds in the U.S. Larry has served as a director on the boards of twenty-six start-up and emerging growth healthcare companies. He currently serves on the Board of Directors of Active Services, an adult day care provider; and LXU Healthcare, a specialty surgical marketing and distribution company. He received an A.B. degree from the University of North Carolina and a Ph.D. in immunology-biochemistry from the University of South Dakota.
Mr. Swenson’s healthcare industry experience began in 1981 at Hospital Corporation of America. At HCA, he served as Senior Strategic Planning Analyst and Chief Financial Officer, The Center for Health Studies; and Treasurer and Investment Manager, HCA Capital Corporation. Dave co-founded and serves as General Partner of Coleman Swenson Booth. He has extensive experience in tracking emerging technologies and alternatives to hospital delivery of healthcare, analysis of hospital management companies, strategic planning, and financial analyses for corporate acquisitions and mergers. Mr. Swenson has served on the boards of twenty-five start-up and emerging growth healthcare companies. He currently serves on the Board of Directors of NotifyMD, a provider of Internet-based physician practice communication services; and SleepMed, a sleep disorder management and treatment company. Mr. Swenson is a past Director of Pyxis Corporation. He received a B.S. from Austin Peay University and an M.B.A. from the Owen Graduate School of Management, Vanderbilt University.
About SSM Partners
SSM Partners has been partnering with talented entrepreneurs to build successful companies since 1990. With a focus on healthcare services and information technology, and technology-enabled business and consumer service companies, SSM invests in growth-stage and early-stage businesses. SSM targets companies with large, high-growth markets and defensible business models..