BOSTON, MASSACHUSETTS and ATLANTA, GEORGIA – Summit Partners and Noro-Moseley Partners, two leading growth-focused investment firms, announced the addition of Tom Zajac to each firm’s Executive-in-Residence (“EIR”) program. In this role, Mr. Zajac will partner with the Healthcare & Life Sciences teams at Summit Partners and Noro-Moseley Partners to identify new investment opportunities in the healthcare IT and healthcare services sector.
Most recently, Mr. Zajac served as the CEO of Population Health for Koninklijke Philips N.V. (“Philips”), a leading worldwide health technology company. Prior to his role at Philips, Mr. Zajac served as President and CEO of Wellcentive, a cloud-based population health management solution enabling the shift to value-based care payment models. Mr. Zajac led Wellcentive from 2013 until 2016, scaling the business to national leadership and leading its sale to Philips in 2016. Summit Partners and Noro-Moseley provided growth equity capital to Wellcentive prior to its acquisition.
In addition to his work at Philips and Wellcentive, Mr. Zajac brings more than 30 years of industry insight and experience managing public and private high growth healthcare companies, including previous roles as Chief Customer Officer of Elsevier Health and President and CEO of Elsevier|MEDai (acquired by LexisNexis). Previously, Mr. Zajac served as President and COO of CareScience and as COO of Transition Systems, helping to lead the IPO process at both companies and providing leadership during their subsequent acquisitions by Premier and Eclipsys, respectively.
“Tom’s success as an entrepreneur has been impressive,” said Summit Managing Director Mark deLaar. “He is an experienced operator with a true talent for driving growth.” Summit Principal Jesse Lane added, “We are thrilled to continue our partnership with Tom, and we are confident about the impact he will have leading a new, innovative healthcare organization.”
Allen Moseley, Managing General Partner with Noro-Moseley, added: “Throughout our five-year partnership with Wellcentive, Tom and the team grew revenues by more than 7.0x and transitioned the business from an early stage company to a national, market-leading platform providing solutions to health organizations that collectively covered more than 38 million patient lives. We are excited to partner again.”
“Summit and Noro-Moseley were true partners during my time at Wellcentive. Both offered strategic insight and access, which helped accelerate the company’s success," said Zajac. "I am excited to again join forces and leverage the collective expertise of both firms to find and support great companies with the opportunity to drive meaningful change in healthcare."
For both Summit and Noro-Moseley, their EIR programs are an established and successful element of the growth-oriented investing strategy of each firm. These programs connect senior industry executives who work alongside investment teams to identify opportunities, conduct due diligence, and create and support the value creation process for the companies with which each firm has partnered.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $15 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 460 companies in healthcare, technology and other growth industries. These companies have completed more than 140 public equity offerings, and more than 180 have been acquired through strategic mergers and sales. Summit has partnered with more than 100 companies in growth-oriented sectors across the healthcare value chain, including physician-based practice management, home health, HCIT, accountable care organizations, life sciences, laboratory services, and lab-based diagnostics. Notable healthcare companies backed by Summit Partners include Advance Health, Anesthetix, CareCentrix, DuPage Medical Group, HealthCare Partners, Lincare, MEDNAX, MDVIP, Modernizing Medicine, National Veterinary Associates and Wellcentive. Summit maintains offices in North America and Europe, and invests in companies around the world. In addition to the EIR program, Summit’s team offers strategic and tactical support at an operational level through its Peak Performance Group, expertise in structuring and financing transactions through its Capital Markets Team, and dedicated recruiting resources through its Talent and Recruiting Team. For more information, visit www.summitpartners.com or on Twitter at @SummitPartners.
About Noro-Moseley Partners
Noro-Moseley Partners (“NMP”), based in Atlanta, is a private equity firm focused on early growth stage companies in the healthcare IT and services and information technology sectors. Since 1983, NMP has been a leader in its market, investing more than $700 million in over 180 companies. The managers of NMP’s current fund, Noro-Moseley Partners VII, have more than 60 years collectively of direct growth equity investing experience and bring a diverse set of skills to assist entrepreneurs in growing their companies. For more information, visit www.noromoseley.com.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11–12 St. James’s Square, London, SW1Y 4LB, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.