Overview
                                    
                                    
                                        
                                            EHMC  is  a Delaware limited liability company and a registered investment adviser that provides 
advisory services to a portfolio of  private equity funds and special purpose vehicles (collectively the 
“Funds”).  EHMC is led by Malcolm Kostuchenko, Matthew Thompson and Samarth Chandra. 
EHMC is a thematic, mission oriented lower middle market private equity firm that seeks to build 
successful and innovative companies that create a positive change in the U.S. healthcare system. 
The firm provides equity capital for recapitalizations, and growth investments to companies across 
three healthcare sectors: provider-based services, healthcare IT, and pharma services.  As  of 
December 31, 2023, EHMC had discretionary assets under management of $1,181,620,599. 
EHMC  focuses primarily on healthcare services companies that do not require extensive capital 
expenditures and generate strong free cash flow. The Funds are often the first round of institutional 
equity investment in their portfolio companies, providing capital to smaller family or founder 
owned-and-operated businesses that require the capital and experience of an institutional investor 
to maximize their growth potential and transform their businesses into market leaders. EHMC 
believes that the healthcare industry offers attractive investment opportunities that are well suited 
to EHMC’s investment strategy due to the industry’s size, growth prospects, non-cyclical nature, 
high degree of fragmentation and attractive long-term demographic trends. 
The Funds make control investments in, or minority investments where it  will have significant 
influence over the governance and strategic  direction of, healthcare companies that generate 
typically less than $100 million in  annual revenues. The Funds traditionally have invested on 
average between $10 million to $75 million in each portfolio company. In addition to the Funds’ 
buy and build investment strategy, the Funds may also make growth  equity investments (where 
the Fund seeks to grow a portfolio company primarily by means
                                        
                                        
                                             of cash investment). 
EHMC  will also selectively consider other types of equity-oriented transactions, including situations 
where EHMC has a resource. Typically, our Funds seek liquidity for each investment within 5 years 
of initial investment. 
Nature of Our Asset Management Clients 
EHMC generally provides investment management and administrative services to the Funds, which 
are U.S. investment LPs and special purpose vehicles organized as LLCs that are not registered or 
required to be registered under the U.S. Investment Company Act of 1940 (the “Investment 
Company Act”). The securities of the Funds are not, and are not required to be, registered under 
the U.S. Securities Act of 1933 (the “Securities Act”). 
Investors in the Funds participate in the overall investment program for the applicable Fund but 
may be excused from a particular investment due to legal, regulatory or other agreed-upon 
circumstances pursuant to the relevant Fund’s LP or LLC agreement. The Funds or their general 
partners have entered into side letters or other similar agreements with certain investors that have 
the effect of establishing rights (including economic or other terms) under, or altering or 
supplementing, the terms of the relevant Fund’s LP or LLC agreement with respect to such 
investors. 
Additionally, from time to time and as permitted by the relevant Funds’ LP or LLC agreements, 
EHMC  expects to provide (or agree to provide) co-investment opportunities (including the 
opportunity to participate in co-invest vehicles) to certain investors or other persons, including 
other sponsors, market participants, consultants and other service providers, EHMC’s  personnel 
and/or certain other persons associated with EHMC  and/or its  affiliates (e.g., a vehicle formed by 
EHMC  to co-invest alongside a particular Fund’s transactions). Such co-investments typically 
involve investment and disposal of interests in the applicable portfolio company at the same time 
and on the same terms as the Fund making the investment.