New York-based Clayton, Dubilier & Rice has appointed Ravi Sachdev, a former managing director and co-head of healthcare services at J.P. Morgan as a partner.
Sachdev has “extensive expertise” in healthcare-related strategic advisory, M&A and capital markets, which he has developed having worked for more than 16 years as a senior healthcare company executive, according to a CD&R statement.
“We believe the disruptive structural changes affecting healthcare will yield exceptional investment opportunities over the next decade or more,” CD&R partner Rick Schnall, said.
The appointment comes as CD&R is currently investing its CD&R’ Fund IX, which it closed on $6.4 billion last May. The fund, which has a GP commitment of $434 million, or 7 percent, will invest in between 12 and 15 companies across a variety of industries.
The firm has already made two healthcare investments from that vehicle. Last May, CD&R acquired Healogics, the largest advanced wound care services provider in the US, from Metalmark Capital and Scale Venture Partners for $910 million. In December 2013, CD&R also invested in PharMEDium, a national provider of hospital pharmacy-outsourced sterile compounding services.
Other investments from this fund include Brand Energy, which CD&R combined with Harsco Corporation’s infrastructure business to create Brand Energy & Infrastructure Services, Mauser, an industrial packaging business that CD&R acquired for approximately €1.2 billion and Ashland Water Technologies, a supplier of specialty chemicals for process, functional and water treatment applications, which CD&R bought for approximately $1.8 billion.
CD&R has managed the investment of $21 billion in 63 businesses with an aggregate transaction value of approximately $100 billion since it was founded in 1978.