WCAS seeks to invest in market-leading healthcare companies that
(i) reduce healthcare costs, (ii) increase quality of care or
service, (iii) enable payors and/or providers to improve
efficiencies and (iv) demonstrate proven business models with
strong unit-level economics. We have found that by targeting
highly fragmented, complex or inefficient sectors with a
combination of capital, strong management, and strategic vision, we
can create operating models and businesses that deliver substantial
value to patients, providers, payors and shareholders.
Some examples of healthcare sectors in which we invest include
facilities, providers, payors and medical technology. In
addition, we invest in healthcare information technology, which
leverages both our healthcare and technology expertise.
WCAS defines technology and technology-enabled services to
include a very large and dynamic universe of companies that provide
services to other companies. We focus on business-to-business
models where a target company's client base consists of other
businesses (and not consumers). We target investments in companies
with (i) attractive organic and acquisition-related growth
opportunities, (ii) strong recurring revenue and free cash flow,
(iii) high operating leverage and (iv) defensible market positions.
We believe that our portfolio companies deliver value to
their customers by enabling greater growth, improved productivity
and quality as well as higher cost efficiency.
The technology universe includes a number of attractive
subsectors and a wide range of diverse business models. Some
examples of technology sectors in which we invest include payment
processing, financial technology and software.