HealthCare Royalty Partners

HealthCare Royalty Partners (HCR) is a prominent global investment firm specializing in the healthcare sector, headquartered in Stamford, United States. The firm distinguishes itself by providing non-dilutive capital solutions primarily through royalty acquisitions and debt financing for commercial-stage biopharmaceutical and medical device products. This unique approach allows healthcare companies, non-profit institutions, and inventors to access significant capital without relinquishing equity, making HCR a strategic partner for entities seeking to fund product development, M&A activities, or general corporate purposes while maintaining ownership control.

HCR boasts a robust track record, having deployed over $10 billion in capital across more than 100 transactions since its inception. This extensive experience underscores their deep understanding of the healthcare market and their capability to execute complex deals. Their investment thesis centers on products with established commercial viability, offering a lower-risk profile compared to early-stage venture capital, yet providing substantial growth potential through their royalty streams.

The firm's financial strength is evident in its successful fundraising efforts. For instance, their latest fund, HCR Fund VI, closed in 2023 with $2.2 billion in commitments, indicating strong investor confidence and significant capital reserves for future investments. Typical transaction sizes for HCR range broadly, from approximately $20 million up to $500 million, and can be even larger when co-investing with partners. This flexibility allows them to engage with a wide spectrum of companies, from mid-sized biotechs to large pharmaceutical corporations, providing tailored financing solutions to meet diverse needs within the global healthcare landscape.