Fundraising Fox

HLM Investment Partners

Growth equityActively deploying

Waltham · Growth · 33 people tracked

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Investment thesis

HLM targets capital-efficient, technology-enabled healthcare businesses with experienced management teams operating in large, fragmented markets. The firm identifies and enables solutions to barriers in physical and financial access to care, particularly in value-based care, behavioral health, digital mental health platforms, and multi-modal patient engagement. Investment emphasis centers on companies reducing provider burnout and enabling health systems to meet demand while improving clinical outcomes and operational efficiency.

Source: firm website, verified Jul 21, 2026.

Stage
Growth
HQ
Waltham, US
Leads rounds
Leads
Instruments
Equity
Founded
1990
AUM
$411.4M
Tracked investments
153

Team · 33 people

from the firm's website
Ed Cahill· Partner

Ed joined HLM as a Partner in 2000 and was previously a founding partner of Cahill, Warnock & Company and a Managing Director at Alex. Brown & Sons, where he led the Healthcare Group. He has extensive board experience with both public and private healthcare companies.

Ed Cahill· Partner

Healthcare investment professional who joined HLM as a Partner in 2000. Previously a founding partner at Cahill, Warnock & Company and Managing Director at Alex. Brown & Sons, where he led healthcare investment coverage and underwrote numerous pioneering healthcare companies.

Enrico Picozza· Partner

Enrico is a seasoned life sciences pioneer with over 30 years of experience identifying and commercializing disruptive technologies. He holds nine U.S. patents and was recognized by the Smithsonian Institution for his contributions to PCR development.

Joseph Mayer· Partner

Dr. Mayer joined HLM as a Partner in 2024 with 15 years of experience as a clinician, healthcare executive, and investor. He has worked extensively on post-acute care, home-based services, and Medicare Advantage, and previously founded Cureatr, a healthcare technology company.

Michael Ludwig· Partner

Michael joined HLM as a Partner in 2024 from MTS Health Partners, where he was a partner leading healthcare technology coverage. He also founded Elements Health Ventures, a venture capital firm focused on early and growth stage healthcare technology.

Peter Grua· Partner, Emeritus

Peter served as a managing partner at HLM for over 33 years, with investment focus on innovative healthcare services and digital health technology companies. He has extensive board experience across multiple portfolio companies and public healthcare firms.

Vin Fabiani· Partner, Emeritus

Vin serves as a director at several healthcare companies and a board observer at others, bringing healthcare industry experience to his advisory role.

Andrei Naeymi-Rad· Advisory Board Member

Andrei has over 20 years of experience in health IT working globally with large healthcare organizations. He currently works as VP of Corporate Strategy at Intelligent Medical Objects.

Ashley Tyrner-Dolce· Operating Partner

Ashley is a healthcare entrepreneur and food policy leader, best known as founder of FarmboxRx, a pioneering Food as Engagement program for health plans. She successfully exited the company through its sale to Pyx Health.

Audrey Hernon Guzas· IT Manager

Audrey joined HLM in 1996 and serves as the firm's IT Manager, overseeing all aspects of the technology environment including systems, infrastructure, cybersecurity, and data management.

Barry Katz· Advisory Board Member

Barry is a healthcare executive and board member with deep experience in pharmacy benefit management and healthcare services. He previously served as President and COO of EnvisionRxOptions.

Ben Barasch· Advisory Board Member

Ben is the founder and managing partner of Boro Partners, a private investment fund focused on real estate debt and healthcare investments on both equity and debt sides.

Charlie Crawford· Advisory Board Member

Charlie has deep experience across stages of business development and works with healthcare and technology portfolio companies. He joined from Innova, a Tennessee-based venture capital firm.

David Jones Jr.· Advisory Board Member

David founded Chrysalis Ventures in 1993 and is a leading venture capitalist in mid-America. He served on the Board of Directors of Humana Inc. from 1993 to 2023, including as Vice Chair and Chair.

Dr. Rasciel Socarras· Advisory Board Member

Dr. Socarras is a board-certified pediatrician with more than 30 years of experience providing comprehensive care to children and adolescents. He practices at Pediatric Associates and is affiliated with regional hospital systems.

Gil Addo· Advisory Board Member

Gil is a healthcare executive and entrepreneur with deep experience in digital health and specialty care integration. He co-founded RubiconMD, a virtual specialty care platform acquired by CVS Health.

James P. Bradley· Executive Board Chairman / Advisory Board Member

Jim Bradley provides advisory services to the healthcare industry, serving as Executive Board Chairman of early to intermediate stage healthcare companies. He has founded companies including RxHub and Abaton.com and held executive roles at McKesson and United HealthCare.

Ken Burdick· Advisory Board Member

Ken is a seasoned public company executive with extensive healthcare experience, currently serving as Executive Chairman and Former CEO of LifeStance Health Group. He has held senior executive roles at Centene and WellCare Health Plans.

Kirk Stanley· Advisory Board Member

Kirk brings more than 25 years of leadership experience across healthcare services, technology, and value-based care. He currently serves as CFO of Tango and has held executive roles at PopHealthCare and INSPIRIS.

Laurie McGraw· Advisory Board Member

Laurie is a nationally recognized healthcare executive and board member with deep experience across health systems and healthcare services. She is Founder and Host of the Inspiring Women podcast.

Mark Neaman· Advisory Board Member

Mark is a senior healthcare executive who served as President and CEO of Chicago-based NorthShore University HealthSystem from 1992 to 2018, overseeing creation of a large multi-hospital system and multi-specialty physician group.

Matt McCambridge· Advisory Board Member

Matt is an entrepreneur and former venture capital investor based in New York City. He was Co-Founder and CEO of Eden Health, a national concierge primary care company acquired in 2024.

Michael Wong· Chief Financial Officer & Chief Compliance Officer

Mike joined HLM in 2007 and was promoted to CFO in 2015. He provides legal and diligence support and manages the financial and administrative functions of the firm.

Mike Tudeen· Advisory Board Member

Mike is an accomplished healthcare executive and board leader with more than three decades of experience. He is known for mentoring talent and has served as CEO of CareBridge Health, PopHealthCare, and INSPIRIS.

Peter Dunn· Advisory Board Member

Peter is a seasoned executive with more than 25 years of CEO experience building and scaling businesses in healthcare and consumer services. He co-founded Activate Healthcare, later acquired by Paladina Health.

Rasciel Socarras

Board-certified pediatrician with over 30 years of clinical experience providing comprehensive care to children and adolescents with focus on preventive care.

Richard Barasch· Advisory Board Member

Richard is the founder of RAB Ventures and was Chairman and CEO of Adapt Health and Universal American. He brings extensive experience in healthcare investing and management.

Robert Siwik· Accounting Manager

Robert joined HLM in 2022 to support financial and operational initiatives and was promoted to Accounting Manager in 2026. Prior to HLM, he was a Senior Audit Associate at KPMG.

Rudy Pages· Advisory Board Member

Rodolfo Pages is a finance and investment banking professional with more than 40 years of experience. He has held senior roles at Standard Chartered Bank and American Express Bank and is Managing Director of Caoba Capital Partners.

Satyam Patel· Senior Associate

Satyam joined HLM in June 2024 and is actively involved in investment process and portfolio company support. Prior to HLM, he was an analyst at Cain Brothers, a healthcare focused investment bank.

Seth Van Essendelft· Strategic Advisor

Seth is a Strategic Advisor to HLM with over 20 years of experience in finance, strategy, investing, and operations across payor and provider aspects of healthcare. He is currently CFO of Physician Care Centers.

Simeon Schindelman· Advisory Board Member

A 40-year health care industry veteran, Simeon has held senior executive roles including President at United Healthcare, CEO of Bloom Health, and CEO of Brighton Health Plan Solutions. He focuses on reducing medical costs while increasing healthcare quality and access.

Steve Wogen· Advisory Board Member

Steve brings nearly 30 years of healthcare leadership experience across health systems, payers, pharmacy benefit and specialty management. He was previously Chief Growth Officer at Walgreens and CareCentrix.

What they invest in

from 15 of 153 portfolio companies

Healthtech ×14Digital Health ×11Enterprise Software ×7SaaS ×5Mental Health ×2AI & Machine Learning ×1Cloud Computing ×1Cybersecurity ×1

HQs:United States×6

Investments · showing 60 of 153

founders shown can be your intro path
Abletoableto.com
AbleTo
AbleTo, Inc.
Actamed
Actamed / Healtheon Corporation
Aktana, Inc.
American WholeHealth, Inc.
Animas Corporation
Aperio Technologies, Inc.
Aperture Credentialing, Inc.
Array Behavioral Care
ArroHealth
Ascellus Health, Inc.
Aspect Medical Systems, Inc.
Aventura HQ, Inc.
b.well Connected Health, Inc.
BenefitPoint, Inc.
Binary Fountain, Inc.
Binaryfountainbinaryfountain.comin𝕏
Careoptionsforkidscareoptionsforkids.comin
Carevive Systems, Inc.
Casenet, Inc.
Cbr Systems, Inc.
Censinetcensinet.comin
Censinet, Inc.
Change Healthcare Corporation
Channelpoint, Inc.
Circe Biomedical, Inc.
ClearDATA Networks, Inc.
CombiMatrix Corporation
Confluent Surgical, Inc.
CorSolutions Medical, Inc.
Covetruscovetrus.comin
Covetrus, Inc.
Daou Systems, Inc.
DermTech, Inc.
Diameter Health, Inc.
Diameterhealthdiameterhealth.com
Elligint Health, Inc.
EXACT Sciences Corporation
Familymeds Group, Inc.
Fieldglass, Inc.
First Insight Corporation
Fuze Health
Fuzehealthfuzehealth.com
GTESS Corporation
Guava Technologies, Inc.
HarmonyCaresharmonycares.comin
HarmonyCares
Hazelhazel.coin𝕏

Hazel Health operates a school-based telehealth platform that connects students with licensed clinicians for healthcare services. The platform serves school districts and families across multiple U.S. states to improve student health access and reduce classroom absences.

Digital HealthEdTechHealthtech

Hazel Health, Inc.
Healthechealthec.comin𝕏
HealthEdge Software, Inc.
Healtheon Corporation
HealthVISION, Inc.
HPS/PayMedix
Icanbwellicanbwell.com
Imagine Health, Inc.
InnovaCare Health
Innovacarehealthinnovacarehealth.comin

Frequently asked questions

What stage does HLM Investment Partners invest at?
HLM Investment Partners invests at the Growth stage.
What sectors does HLM Investment Partners focus on?
HLM Investment Partners focuses on Digital Health, Healthtech, Medical Devices, Mental Health.
Where is HLM Investment Partners located?
HLM Investment Partners is headquartered in Waltham, US.
Does HLM Investment Partners lead rounds?
Yes, HLM Investment Partners leads investment rounds.

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