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VALUE BEYOND CAPITAL

Investing in Growing
Healthcare Businesses

Anagenesis is an investment firm focused exclusively in the healthcare industry. We partner with established healthcare businesses to deliver tailored financing solutions and strategic guidance to support their business needs and facilitate accelerated growth.

VALUE BEYOND CAPITAL

Investing in Growing
Healthcare Businesses

Anagenesis is an investment firm focused exclusively in the healthcare industry. We partner with established healthcare businesses to deliver tailored financing solutions and strategic guidance to support their business needs and facilitate accelerated growth.

Our Focus

Anagenesis provides tailored private debt and growth equity capital to healthcare businesses in the lower middle market seeking to scale through organic growth and acquisition. Our team and strategic advisors collaborate closely with portfolio companies, management teams and stakeholders to augment their resources to help them transform and grow their businesses.

With deep experience in healthcare finance and in building businesses, we are able to add exponential value through active engagement and actionable advice. Our experience allows us to be creative, efficient, and decisive in providing capital solutions that foster sustainable, long-term value creation. Our partnership approach helps companies weather any challenge.

A Center of Knowledge in Healthcare 

With decades of experience in healthcare finance and a robust network of business leaders across the sector, Anagenesis offers management teams exceptional insight into mitigating the challenges and capturing the opportunities unique to the sector.

We are adept at navigating the regulatory environment faced by healthcare and small businesses and actively participate in critical strategic planning and execution.

What We Offer

Alignment. We are passionate about healthcare and driving value. While primarily lenders, we think like business owners and collaborate with management teams to actively develop relationships and markets. Our flexible financing options are complemented by our expertise and commitment to success.

• Flexible debt and equity capital
• Industry knowledge and relationships
• Business building experience and SBIC expertise

How We Add Value

Partnership. Beyond capital, we provide access to talent, resources, and expansion opportunities.  Our team and advisors work alongside management teams to facilitate positive outcomes — from creating ‘right fit’ financing to instilling best practices to providing thoughtful oversight of strategic initiatives.

• Robust diligence, tailored financing, and decisiveness
• Active engagement with all stakeholders
• Ownership mindset and equity commitment

Where We Invest

Momentum. We finance growth, and acquisition strategies for businesses with strong management teams, proven products/services, and sustainable competitive advantage. We value diversity and seek companies with high-touch community engagement. We avoid venture and ‘clinical trial risk’.

• Niche market leaders with strong growth potential
• $2 million+ EBITDA
• Typical investment $15-$20 million with ability to arrange additional capital

Our Values in Action

Healthcare is our passion and fostering positive patient outcomes our driving force. Delivering value to diverse communities and those in need is paramount to our vision.

Ours is a culture centered on partnership, integrity, and shared knowledge. We conduct our business with a focus on crafting win-win solutions for all stakeholders. We are honest and decisive and stand behind our commitments as stewards of our investor’s capital. Fully aligned with our portfolio companies, we are prudent in our financing and commit to the long view.

About Anagenesis

Shared knowledge, ingenuity, and collaboration create a dynamic ecosystem of value creation.

We are forward thinking business builders and experienced investors able to deliver solutions spanning the capital structure. We believe diverse perspectives and open communication lead to discovering the ‘best ideas’ that drive optimal outcomes.

Anagenesis is focused on supporting the growth of healthcare businesses that are dedicated to fostering good health. We efficiently help them with access not only to capital but to talent, resources, and expansion opportunities. We offer active capital and participate in corporate development, often taking board seats and making connections as well as providing guidance via our expert network of healthcare executives.

Our Team

  • Anagenesis Team
  • Executive Advisors
  • Melanie Brensinger

    Managing Partner

  • Gerald Chaney

    Managing Partner

  • Brian Choi

    Vice President

  • Scott Clark

    Principal

  • Avery DeBiasi

    Chief Financial Officer

  • Darren Fuller

    Vice President

Melanie Brensinger

Managing Partner

Ms. Melanie Brensinger is a Founder and Managing Partner of Anagenesis Capital Partners. She is a member of the Investment Committee and is responsible for the general management of the firm as well as originating, executing, and managing investments.  Ms. Brensinger serves on the Boards of various Anagenesis’ portfolio companies. In addition, she is a Board member of the SBIA Board of Governors, Advisory Board member for the Kayo Credit Series and on the Board of The PIT Foundation.

Ms. Brensinger has over 23 years of experience originating, underwriting, and managing senior debt, junior debt and equity investments in the middle market. Prior to founding Anagenesis in 2015, Ms. Brensinger was a healthcare focused investment professional as a Managing Director and senior originator at GE Capital, Healthcare Financial Services.  She was responsible for originating and underwriting financings for private equity led healthcare investments. During her nine years at GE, Ms. Brensinger originated over 550+ healthcare investments and committed to 48+ healthcare investments and many other participant transactions aggregating over $2 billion in deployed capital. Prior to joining GE Capital, Ms. Brensinger was a Director in the Private Equity Sponsor Coverage Team at Scotia Capital, where she originated and underwrote numerous domestic and international leveraged buyouts across various industries.

In 2006, Ms. Brensinger established The PIT Foundation, a 501c3 foundation, to provide educational resources to children in Kenya. In 2009, she was nominated by her peers and selected to receive the Gerald L. Phillippe Award in recognition of her extraordinary record of volunteer service. She was one of only nine recipients selected for this recognition from over 300,000 GE employees around the world. In addition, in 2012, Ms. Brensinger was nominated and selected for the GE Women in Commercial Program.  Most recently she was honored to be selected for the 21 in 21 – Women in Healthcare Investing by Kayo.

Ms. Brensinger received her BS from York College of Pennsylvania with a Dual Degree in Economics and Finance with a minor in Accounting.

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Gerald Chaney

Managing Partner

Mr. Chaney is a Founder and Managing Partner of Anagenesis Capital Partners. He is a member of the Investment Committee and is responsible for general management of the firm as well as originating, executing, and managing investments. Mr. Chaney serves on the Boards of various ACP portfolio companies.

Mr. Chaney has over 24 years of private investment experience. Prior to founding Anagenesis, Mr. Chaney was a Managing Director and a member of the US Investment Committee for Intermediate Capital Group, Inc. (ICG). Mr. Chaney joined ICG in 2007 to found the US business and was instrumental in building out the US platform for the firm. At ICG, he was responsible for originating, underwriting, and managing senior debt, mezzanine, and equity investments made on behalf of the firm as well as general management. Mr. Chaney was a board observer of numerous portfolio companies including Cogent HMG, Au Bon Pain, BI Incorporated, Helicon Cable, Hudson Products, Press Ganey, Fort Dearborn, and Convergint Technologies, among others.

Prior to ICG, Mr. Chaney helped found AlpInvest Partners’ mezzanine platform where he was responsible for a number of mezzanine investments aggregating approximately $500 million of invested capital across a variety of industries and was a board observer for multiple companies. Prior to that, he worked at IBJ Whitehall’s Leveraged Finance Group where he worked on leveraged buyout investments and he started his career at The Bank of New York.

Mr. Chaney received his BA from Hamilton College, as well as his MBA from New York University’s Stern School of Business.

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Brian Choi

Vice President

Mr. Choi is a Vice President of Anagenesis Capital Partners. He is responsible for sourcing and evaluating investment opportunities, performing due diligence, investment execution and portfolio management. He has over seven years of underwriting, portfolio management and risk management experience.

Prior to joining Anagenesis, Brian was most recently an Assistant Vice President at Capital One Healthcare (formerly the GE Capital Healthcare Financial Services team) and focused exclusively on the healthcare industry. He was responsible for leading the underwriting and due diligence processes on numerous healthcare transactions and overlapped while there with Melanie Brensinger, Scott Clark, and Darren Fuller from our team. Prior to Capital One, Brian served as a risk analyst at GE Capital. There he completed GE’s premier Leadership Program in risk management with roles in the Healthcare Finance unit and GE Capital headquarters.

Brian received a BBA in Finance and Risk Management from the University of Wisconsin – Madison.

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Scott Clark

Principal

Mr. Clark is a Principal of Anagenesis Capital Partners. He is responsible for sourcing and evaluating investment opportunities, performing due diligence, investment structuring and execution, and portfolio management including observation board participation. Mr. Clark also assists in recruiting and training junior investment professionals. Mr. Clark has over 18 years of experience and over 12 of private investment experience.

Prior to joining Anagenesis, Mr. Clark was a Vice President on the Healthcare Leveraged Finance Team at Capital One Bank (formerly the GE Capital Healthcare Financial Services team) where he was responsible for managing multiple teams and underwriting credit investments for healthcare companies. During his 10 + year tenure at GE Capital/Capital One, he assisted in underwriting over $1.7 billion of credit investments and completed GE’s premier Leadership Program in risk management. Prior to joining GE, Mr. Clark was an associate at New Markets Venture Partners and prior to that was the Global IT strategy Manager for ExxonMobil Corporation.

Mr. Clark received his BS in Business Management from Brigham Young University and his MBA from the Robert H. Smith School of Business at the University of Maryland.

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Avery DeBiasi

Chief Financial Officer

Ms. DeBiasi is Chief Financial Officer of Anagenesis Capital Partners. She is responsible for managing financial operations including accounting, tax, treasury, valuations, reporting and planning. She has over nine years of private credit and equity experience.

Prior to joining Anagenesis, Ms. DeBiasi was the Director of Finance at Energy Impact Partners. She was responsible for leading the finance and operational functions for over $1 billion in assets under management. Previously, Ms. DeBiasi worked at LeverPoint Management, a fund administration firm. At LeverPoint she was responsible for the books and records of fifteen private equity, venture capital and credit funds. Her responsibilities included running the operations of the Boston office and reviewing the daily and quarterly transactions and reports for all activities of the funds. Prior to that, Ms. DeBiasi worked at CohnReznick LLP, a public accounting firm where she specialized in private equity and credit fund audits.

Ms. DeBiasi received a BA in Accounting from Assumption College.

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Darren Fuller

Vice President

Mr. Fuller is a Vice President of Anagenesis Capital Partners. He is responsible for sourcing and evaluating investment opportunities, performing due diligence, investment execution, and portfolio management. Mr. Fuller has over seven years of underwriting, portfolio management and risk management experience.

Prior to joining Anagenesis, Darren was most recently an Assistant Vice President on the Healthcare Leveraged Finance Team at Capital One Healthcare (formerly the GE Capital Healthcare Financial Services team). During his five years at Capital One, he was focused exclusively on the healthcare industry and was responsible for leading the underwriting and due diligence processes on numerous transactions and overlapped while there with Scott Clark and Brian Choi from our team.

Prior to joining Capital One, Darren completed a rotational Management Development Program at M&T Bank. While at M&T and Capital One, Darren passed Level 1-3 CFA exams, receiving CFA designation in ’18. Darren received a BA in Economics from Hamilton College.

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  • Stephen DeCherney, MD, MPH

    Clinical Professor of Medicine, and Professor (Adjunct) Business in the Kenan-Flagler School of Business, University of North Carolina, Chapel Hill, NC.

    Dr. Stephen DeCherney was President of the Global CRO at Quintiles Transnational Corporation, a leading international clinical research organization, where he managed nearly 10,000 employees and over $1bn in revenue.

  • Michael A. DiMarco

    CEO of himagine solutions

    Mr. DiMarco is currently the CEO of himagine solutions, Inc., a provider of outsourced health information management services. himagine solutions was formed following the acquisition of Kforce Healthcare Inc., in August 2014.

  • Susan Morelli

    President of Au Bon Pain

    Ms. Morelli is the President of Au Bon Pain, a bakery café restaurant chain headquartered in Boston, Massachusetts with over 200 locations in urban office buildings, hospitals, airports, train stations, universities and shopping malls in the United States and abroad. Panera Bread acquired Au Bon Pain in December 2017.

Stephen DeCherney, MD, MPH

Clinical Professor of Medicine, and Professor (Adjunct) Business in the Kenan-Flagler School of Business, University of North Carolina, Chapel Hill, NC.

Dr. Stephen DeCherney was President of the Global CRO at Quintiles Transnational Corporation, a leading international clinical research organization, where he managed nearly 10,000 employees and over $1bn in revenue. Dr. DeCherney retired from Quintiles in 2008 to return to academia, where he is currently Professor of Medicine, and Professor (former) of Business in the Kenan-Flagler School of Business, University of North Carolina.

Dr. DeCherney is a Director of: KNOW Bio LLC; Vast Therapeutics; Health Decisions CRO; and Pharm-Olam CRO. In addition, he serves as an Executive Advisor to e4-services; a healthcare services firm; and Grant Avenue Capital Partners.

Stephen is also an active Board Director and Trustee with such outstanding organizations as the RFK Center for Human Rights and Justice, the William Harvey Research Institute in London, and the Christiana Care Health System. He also served as Chair of the University of Delaware Research Foundation.

Dr. DeCherney has a BA in Biology and an MPH, Healthcare Policy and Management from Columbia University. He earned his medical degree from Temple University and completed his internal medicine residency at the Graduate Hospital of the University of Pennsylvania. He did his Endocrine training at Vanderbilt University. He spent four and a half years at the NIH. He served as a Major in the USAF.

 

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Michael A. DiMarco

CEO of himagine solutions

Mr. DiMarco is currently the CEO of himagine solutions, Inc., a provider of outsourced health information management services. himagine solutions was formed following the acquisition of Kforce Healthcare Inc., in August 2014. Mr. DiMarco partnered with Beecken Petty O’Keefe & Company, a Chicago based private equity firm focused on the healthcare industry, to acquire Kforce Healthcare Inc. and build through an organic and inorganic growth strategy.

Prior to forming himagine, from 2004 to 2014, Mr. DiMarco was the founder and CEO of The Outsource Group, an outsourced provider of healthcare revenue cycle management services, which was later acquired by a division of HCA. Previously, Mr. DiMarco held the role of Division President for Outsourcing Solutions, Inc., a Madison Dearborn company, and as COO for Paging Network, Inc., a GTCR portfolio company.

Mr. DiMarco currently serves on the Boards of himagine solutions, Inc. and Saint Louis Priory School, and previously served on the Boards of Medical Solutions, Inc. and of Trust RCM. Mr. DiMarco received his BS in Management from Ramapo College of New Jersey, an MPA from Rutgers University School of Public Policy, and a Doctorate in Management, ABD, from Webster University.

 

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Susan Morelli

President of Au Bon Pain

Ms. Morelli is the President of Au Bon Pain, a bakery café restaurant chain headquartered in Boston, Massachusetts with over 200 locations in urban office buildings, hospitals, airports, train stations, universities and shopping malls in the United States and abroad. Panera Bread acquired Au Bon Pain in December 2017.

Sue joined Au Bon Pain in 1988 and was appointed interim President in 2005 and President and CEO in 2006. She retired in July 2016 but rejoined in January 2018 with the Panera buyout. Under her leadership the company has focused its menu on healthful, balanced eating, earning recognition as #1 Healthiest Restaurant by Grellin and as one of the “healthiest restaurants in America” by Health Magazine. Sue led the company’s accelerated growth into highly visible, densely populated, non-traditional domestic real estate, while also supporting successful international franchise expansion in Thailand.

Prior to 2006, Sue had responsibility for a myriad of disciplines including Marketing, Catering, Human Resources-Senior Recruiting, Concept Strategy, Special Projects, Corporate Communications, Corporate Development (M&A) and Institutional Sales.

Prior to joining Au Bon Pain, Sue spent four years in marketing and general management roles with American Cablesystems, a successful cable television startup that went public and was subsequently acquired by Continental Cablevision. Sue earned a BA in Economics from Yale University in 1981 and an MBA from Harvard Business School in 1984. Between Yale and Harvard, she worked for Bain & Company, a leading management consulting firm.

She has served on the Boards of Wide Horizons for Children, an adoption agency in Waltham, Massachusetts, Babyzone.com, an internet business that is now part of Disney, and Legal Sea Foods which was recently acquired by PPX Hospitality Brands. Sue currently serves as a Corporator Emerita for Northeastern University.

 

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The portfolio companies identified and described here and may not represent all of the portfolio companies purchased, sold or recommended by Anagenesis Capital Partners. Portfolio holdings are subject to change. Not all acquisitions are investments are profitable; the positions can be acquired at a price that is greater or less than the price at which Anagenesis Capital Partners purchased it’s interest for client accounts. The information has been shown to reflect the firm’s ability to select investments and not to reflect any positive investment experience. The reader should not assume that an investment in the portfolio company is identified was our will be profitable.

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Contact Us

Office: (646) 661-4014
Facsimile: (646) 661-4015

Our Office

FLORIDA

515 North Flagler Drive
Suite 260
West Palm Beach, FL 33401

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