Seven Hills Rolls to $125M Close for Healthcare Fund

Healthcare services focused Seven Hills Capital has held the first and final close of its pilot fund at a hard cap of $125 million.

The Tennessee-based private equity firm targets lower middle market US healthcare services companies with EBITDA values between $1 million and $20 million.

The fund received capital from limited partners, including college and university endowments, single and multi-family offices and outsourced CIOs.

It makes majority control investments in six healthcare markets which include urgent and rural care, mental health and addiction treatment and aesthetic medicine.

The fund currently invests in five portfolio companies including medtech supplier Reliable Medical, assisted living services provider Versicare Group and care provider ExperCARE Health.

Seven Hills was founded in 2016 by Matthew Pettit, a former investor and advisor at Beecken Petty O’Keefe and Company and Piper Jaffray.

Pacenote Capital LLC served as exclusive placement agent for Seven Hills. McGuireWoods LLP provided legal counsel and IQ-EQ served as fund administrator.