Former Quebec Health Minister Dr. Philippe Couillard joins the fund
MONTREAL, Aug. 18 /CNW Telbec/ - Persistence Capital Partners ("PCP") is
pleased to announce the creation of PCP Healthcare Opportunities Fund -
Canada's first private equity fund dedicated to investing in healthcare
"Healthcare spending in Canada reached over $160 billion last year -
almost 11% of Canada's gross domestic product, yet only represents 0.52% of
the capital markets in Canada," said Dr. Sheldon Elman, Managing Partner of
PCP. "As Canada's population ages, the pressure on the healthcare system and
the associated challenges continue to increase. We believe that there is a
need and an opportunity to develop and modernize the healthcare
infrastructure, working in a complimentary fashion and in partnership with the
provincial systems, which would be a potential solution to alleviate some of
With its deep industry expertise, Persistence Capital Partners aims to
provide significant long term capital appreciation by identifying and pursuing
attractive investment opportunities in the Canadian Healthcare market. PCP
made its first investment in March 2008, when it acquired the three businesses
of Medisys Health Group - Canada's leading provider of health services to over
4,000 corporations with offices in Montreal, Toronto, Calgary, Vancouver,
Ottawa and Quebec City; a leading provider of diagnostic imaging services in
Ontario; and a leading provider of medical information services for the
Canadian life insurance industry.
Dr. Philippe Couillard, former Minister of Health and Social Services of
Quebec, has joined PCP as a Partner in the Fund.
"Dr. Couillard's experience, leadership and his expertise in the sector
make him an ideal candidate to help us fulfill PCP's mandate across Canada.
We're pleased and honored that he has accepted the challenge to foster the
development of healthcare businesses in partnership with the public systems
across Canada," said Stuart M. Elman, Managing Partner of PCP.
"I'm very pleased to have the opportunity to participate in the growth of
Persistence Capital Partners - a fund which aims to improve the overall
efficiency of the system. We share the same values and goals for healthcare in
Canada - delivering high quality patient care while meeting the evolving needs
of users of the healthcare system," said Dr. Couillard.
Dr. Couillard graduated from Université de Montreal's faculty of medicine
in 1979, and received his Royal College of Physicians and Surgeons designation
in neurosurgery in 1985. Dr. Couillard was the chief of the department of
Neurosurgery at St. Luc Hospital from 1989-1992, and co-founded and ran the
department of Neurosurgery in Dhahran in Saudi Arabia from 1992-1996. On his
return in Canada, he became a professor in the Faculty of Medicine at the
University of Sherbrooke and was both the director and chief surgeon of the
department of Surgery at the CHUS. Dr. Couillard was elected to the Quebec
National Assembly in 2003, and was appointed Minister of Health and Social
Services of Quebec - a post which he held from 2003 to 2008, the longest
serving health minister in Quebec since 1958.
For further information:
For further information: Roch Landriault, (514) 843-2345