International Hospital Corporation Holding N.V. (IHH)
IHH was formed in 2006 with the roll-up of three sister Latin American based hospital companies, all of which were founded as start-ups in the period 1995-2006. The sister companies designed and built 3 and acquired 5 acute care hospitals in Mexico, Brazil and Costa Rica and managed them under the standards of “first world” quality and patent safety standards. From inception thru 2011 the company grew to 8 operating facilities with formal affiliations with some of the most recognized healthcare institutions in the US such as UT Southwestern, Baylor University Medical Center, Mayo clinic, Harvard, UCLA and others. Four of the company’s hospitals were US joint Commission accredited (Mexico and Central America) and four had other international accreditations (Brazil), at a time when less than 1% of hospitals worldwide outside the US had such accreditations. As a result of difficult capital formation markets resulting from the Great Recession, the company elected to reduce its operating platform and narrow the scope of operations and growth plans to fit within available capital resources. The company sold its Mexico division in 2013 to a large Mexican private hospital operator and currently is divesting the Brazil division in 2015. The company, which has 2 remaining hospitals in Costa Rica, is planning expansion through an acquisition strategy in Central America. A member of Concorde’s private equity portfolio management serves as Executive Chairman.
Pattern, formerly Klaris Diagnostics, is a privately-held in vitro diagnostics company founded in 2016 to help hospitals combat the problem of antibiotic resistance. With the rise of multi-drug-resistant bacteria, there is an urgent need for solutions that will allow hospitals to safely cure and prevent antibiotic-resistant infections. Pattern has developed a groundbreaking technology that addresses this problem. Pattern’s next-generation clinical microbiology platform is based on its patented phenotypic single-cell technology that can rapidly identify pathogens and determine their antibiotic response without the need for traditional time-consuming culture steps. The result is life-saving antibiotic treatment information up to four days faster compared to the standard of care. A member of Omnimed Capital (a Concorde company) serves on the Pattern Board of Directors.
Special Purpose Limited Partnerships (SPLPs)
SPLPs have been formed throughout Concorde’s existence, like the currently active Concorde Capital Energy Partners II, L.P. (CCEP II), to provide for smaller individual capital allocations from accredited and qualified investors to be pooled so that the respective partnerships could meet minimum requirements for third party sponsored private equity opportunities. These partnerships, which predominantly take passive investment positions, are in addition to specific companies or investments, in which Concorde private equity management has taken active roles in the founding or in operations and governance. These smaller limited partnerships, where Concorde serves as the Managing general partner, have been formed to provide the vehicle for the pooling of smaller investment capital amounts from investors that have limited capital allocations available for private equity. These partnerships typically acquire investment positions with a specified purpose such as the energy royalty investments made by CCEP II. Specific portfolio holdings can be stock, debt or partnership participations in vertical market enterprises which historically have included oil and natural gas exploration, livestock, toys, manufacturing, hotel operations, information technology, commodities and precious metals.