February 1, 2023
Former White House Senior Advisor, Former CEO Cancer Treatment Centers of America, Former Senior Leader UnitedHealth’s OptumCare will lead VHP’s Operating Partner program and join Firm’s Investment Committee
LOS ANGELES – Feb. 1, 2023 – Varsity Healthcare Partners (“VHP”, “Varsity” or “the Firm”), a lower middle market healthcare services private equity investment firm, today announced the addition of Dr. Pat A. Basu to its leadership team; based out of VHP’s Chicago office, Dr. Basu will lead the entirety of VHP’s Operating Partner program in the role of Managing Partner, Varsity Operations, as well as support VHP’s healthcare services investment activities as a Partner and Member of the Firm’s Investment Committee.
“Pat Basu has been a world-class leader of growth healthcare services organizations, as well as a skilled operator and developer of physician and executive leaders; beyond his significant career achievements, Pat is a high energy, compassionate leader, who cares deeply about both team and organizational excellence. Our mission is excellence at VHP, and in that vein we are grateful and delighted to add someone of Pat Basu’s caliber, experience and energy to elevate our Operating Partner program and our culture broadly,” said David Alpern, co-Founder and Managing Partner at Varsity Healthcare Partners.
Dr. Basu joins Varsity from Cancer Treatment Centers of America (“CTCA”), a national network of oncology hospitals and outpatient care centers, where he served as President and Chief Executive Officer and led the company to a strategic transaction in 2022. Until that transaction, he also served as President and CEO of Brown Legacy Group, CTCA’s parent holding company and private investing platform for CTCA’s owners’ capital. Prior thereto, Dr. Basu led UnitedHealth Group’s (“UHG”) OptumCare division, the nation’s largest value-based care business, overseeing 9,000 employees and 20,000 physicians managing integrated care delivery through a series of commercial and government capitated contractual arrangements. Prior to his tenure at UHG’s OptumCare, Dr. Basu helped found and served as President, Chief Medical Officer for Doctor on Demand, the largest provider of telehealth patient visits in the U.S., enabling care delivery to more than 40 million patients in partnership with more than 700 employer/health plan partnerships. Previously, Dr. Basu served as Chief Operating Officer and Chief Medical Officer for Virtual Radiologic (“vRad”), the nation’s largest teleradiology platform, where Pat oversaw the Company’s senior executive team, clinical leadership, and more than 1,000 employees and led the Company’s post-merger integration and key growth initiatives.
Dr. Basu previously served as a Presidentially appointed White House Fellow and Senior Advisor. He is a US Board Certified physician and practiced medicine at Stanford University and in private practice. Additionally, Dr. Basu holds a BA in Mechanical Engineering from the University of Illinois, an MBA from Chicago Booth School of Business, and a Medical Doctorate from University of Chicago Pritzker School of Medicine.
ABOUT VARSITY HEALTHCARE PARTNERS
Varsity Healthcare Partners (VHP) is a leading lower middle-market healthcare services private equity investment firm, targeting exclusively multi-site healthcare provider platforms or businesses providing outsourced services, technology, or tools to healthcare providers and/or payers. VHP’s tactical investment strategy emphasizes identifying and transacting with growth-seeking, provider-owned or founder-owned companies, leveraging VHP’s developed “buy and build” playbook to drive significant operational, managerial enhancement early in the life of each platform investment, followed by a well-resourced aggressive and multidimensional growth plan. VHP’s unique tactical investment playbook and strong track record is complimented by VHP’s distinct organizational culture, emphasizing highly collaborative engagement, strong professional accountability, and a commitment to excellence in work product and team performance.