CHICAGO, Nov. 27 Cressey & Company LP, a recently formedprivate investment firm focused on the healthcare industry, today announcedthat former U.S. Senate Majority Leader Bill Frist, M.D., has agreed to jointhe firm as a Partner. Senator Frist will work with the firm's experiencedteam to make new investments in promising healthcare companies as well as toprovide clinical expertise and support to the firm's portfolio companies.
Cressey & Company, including partners Bryan C. Cressey and Peter S.Ehrich, is focused on making equity investments in middle-market companies ina diverse range of segments of the U.S. healthcare industry. The teamproactively supports the managers of the companies in which it invests byhelping identify, complete and integrate acquisitions, improve operations andaccelerate growth. Underlying this focus is Cressey & Company's commitment tobuilding enduring businesses dedicated to high quality care and clinicalleadership.
"Senator Frist is a visionary and one of the most influential leaders inU.S. healthcare, and we are pleased that he is a part of our team," said Mr.Cressey, Partner of Cressey & Company. "He has a unique combination ofexperiences -- both as a practicing physician and as a former Majority Leaderin the U.S. Senate -- that we believe will help us immensely as we identifyand partner with management teams to transform growing healthcare businessesinto world-class companies."
"Fundamental innovation in the U.S. healthcare system is critical,particularly as it relates to quality and efficiency," said Senator Frist,Partner of Cressey & Company. "My new colleagues have impressed me as havingthe skills and experience necessary to grow companies that provide innovative,quality care to patients. I'm excited to join the Cressey & Company team as wehelp build leading companies that will benefit and improve healthcare inAmerica."
With his 1994 election to the U.S. Senate, Senator Frist became the firstpracticing physician to be elected to that body since 1928. He rose to SenateMajority Leader just eight years after his election, having served less timein Congress than anyone ever to hold that position. Throughout his tenure, hehas been at the forefront of all major legislation on the financing,organization and delivery of healthcare. Fulfilling his pledge to serve justtwo terms, Senator Frist retired in 2007. He presently serves as the FrederickH. Schultz Class of 1951 Visiting Professor of International Economic Policyat Princeton University, teaching health economics at the Woodrow WilsonSchool of Public and International Affairs.
Prior to his election, Senator Frist spent 20 years in medicine, rising tonational prominence as a heart and lung transplant surgeon. He received hisundergraduate degree from Princeton University and his M.D. from HarvardMedical School. In the early 1980s, Senator Frist was appointed Chief Residentin Heart and Lung Surgery at Massachusetts General Hospital, and in 1985 hejoined the team of pioneering heart transplant surgeon Dr. Norman Shumway atStanford University Medical Center. The following year, he became director ofVanderbilt University Medical Center's heart and lung transplant program, andthree years later, Senator Frist founded and became director of the VanderbiltMulti-Organ Transplant Center.
"The addition of Senator Frist to our proven team of healthcare investorsis a milestone achievement for our new firm," said Mr. Ehrich, Partner ofCressey & Company. "Senator Frist shares our philosophy of partnering withtalented executives and building quality-focused healthcare companies. We lookforward to his many contributions to the growth of our portfolio investments."
About Cressey & Company LP
Cressey & Company LP, headquartered in Chicago, is a private investmentfirm focused on the healthcare industry. The principals of the firm have beenactiv