Sheridan Capital Partners
Sheridan Capital Partners is a healthcare-focused private equity firm based in Chicago that has operated since 2012. It states that it invests exclusively within healthcare and targets businesses headquartered in the United States or Canada.
What stands out about Sheridan Capital Partners
Sheridan Capital Partners targets healthcare businesses across outsourced services, providers, medical products, and software and technology. Its stated transaction approaches include control positions, partial recapitalizations, and buyouts, with published size criteria varying by healthcare subsector.[1][2][3][6][10]
What does Sheridan Capital Partners invest in?
Sheridan Capital Partners is a Chicago-based healthcare-focused private equity firm that has operated since 2012. The firm states that it invests exclusively within healthcare and partners with healthcare businesses through a thesis-driven approach.[1][2]
Sheridan describes its approach as disciplined and thesis-driven, with an exclusive focus on healthcare. It states that it provides operational, strategic, management, capital, and integration support to portfolio companies, including support for accretive acquisitions.[1][2]
Owners evaluating a financial buyer can compare the offer with independent valuation analysis, understand how acquirers approach transactions through Auxo’s buy-side M&A process guide, and consider whether a full or partial sale best fits their objectives.
Published criteria: For healthcare software and technology businesses, Sheridan states target platform EBITDA of $5–$25M and target equity investments of $30–$150M. For provider, payor, pharma, and patient-facing solutions, it states target platform EBITDA of $0–10M, target platform revenue of $5–30M, and target equity investments of $15–150M.[2]
What should a business owner evaluate before considering a transaction with Sheridan Capital Partners?
Sheridan’s published criteria point to healthcare companies with recurring or re-occurring demand, consistent growth and profitability, fragmented-market characteristics, and limited regulatory risk. Its stated transaction approaches include control positions, partial recapitalizations, and buyouts, while its service model includes operational, strategic, management, capital, and integration support.
An owner evaluating Sheridan should clarify the proposed ownership structure, governance rights, equity rollover expectations, investment vehicle, operating resources, regulatory-risk underwriting, and the role of potential add-on opportunities. Public announcements for PtEverywhere, ICANotes, and the Currier Plastics investment do not disclose transaction financial terms.[1][2][3][6][10]
Would Sheridan pursue a control acquisition, partial recapitalization, or buyout for this company
How would the proposed investment be sized against Sheridan's published criteria
What companies does Sheridan Capital Partners target?
Sheridan identifies founder-owned or entrepreneurially led companies, consistent growth and profitability, fragmented markets, recurring or re-occurring demand, positive secular growth trends, resilient end markets, and limited regulatory risk as target-company characteristics.
For healthcare software and technology businesses, the firm states target platform EBITDA of $5–$25M and target equity investments of $30–$150M. For provider, payor, pharma, and patient-facing solutions, it states target platform EBITDA of $0–10M, target platform revenue of $5–30M, and target equity investments of $15–150M.[2]
Sheridan’s stated healthcare focus includes outsourced services, healthcare providers, medical products, and software and technology. Preferred subsectors include pharma services, payor services, behavioral health, post-acute care, contract manufacturing, specialty pharmacy and compounding, and specialty packaging.[2]
Sheridan states that its target companies are headquartered in the United States or Canada.[2]
Sheridan states that it pursues control positions in healthcare businesses and partial recapitalizations or buyouts. Its 2025 year-in-review reports that the firm closed 3 platform acquisitions, completed 9 add-ons, and completed 1 dividend recapitalization during 2025.[2][7]
Recent official announcements identify investments in PtEverywhere, a practice-management and integrated-payments software platform serving outpatient physical therapy and related rehabilitation providers; Carolina Components Group, a provider of bioprocessing assemblies and components used in biopharmaceutical manufacturing; and ICANotes, a behavioral-health practice-management and electronic-health-record software platform.
Sheridan also identifies Currier Plastics as a portfolio company. Currier Plastics completed its strategic acquisition of Sage Product Development, a medical-device engineering, design, and development provider, on August 7, 2026.[3][4][5][6]
On September 17, 2026, Sheridan announced completion of its investment in PtEverywhere. On August 4, 2026, it announced completion of its investment in Carolina Components Group. On January 13, 2026, it announced completion of its investment in ICANotes.
On August 7, 2026, Sheridan announced that portfolio company Currier Plastics completed its acquisition of Sage Product Development. Sheridan’s 2025 year-in-review reports 3 platform acquisitions, 9 add-ons, 1 dividend recapitalization, and 3 realized investments during 2025.[3][4][5][6][7]
What is not clear from Sheridan Capital Partners's public investment criteria?
The PtEverywhere announcement states that the terms of the private transaction were not disclosed. The ICANotes announcement states that its financial terms were not disclosed, and the Currier Plastics investment announcement likewise states that the financial terms were not disclosed.[3][6][10]
Questions to ask when evaluating Sheridan Capital Partners as a buyer or investment partner
Would Sheridan pursue a control acquisition, partial recapitalization, or buyout for this company?
How would the proposed investment be sized against Sheridan's published criteria?
What ownership, governance, and management arrangements would Sheridan require?
Which operating and integration resources would be available to the company?
How would Sheridan evaluate regulatory risk and recurring demand in this business?
Which fund or investment vehicle would make the investment?
Sources & research notes
- Official website / firm overview
- Investment strategy
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- Transaction / portfolio evidence
- SEC filing / regulatory record
- SEC filing / regulatory record
- Public disclosure information
How this profile was researched
Auxo profiles are prepared from publicly available primary and authoritative sources and reviewed for entity identity, factual support and disclosure consistency. When a fact cannot be supported by the reviewed public record, the profile identifies it as something to confirm directly rather than inferring it.
Independent research profile
This profile was prepared by Auxo Capital Advisors from publicly available information believed to be reliable and is provided solely for informational and educational purposes. It is not an endorsement, recommendation, ranking, solicitation, or representation regarding the profiled firm, its services, qualifications, transaction experience, regulatory status, financial condition, or suitability for any particular person, company, transaction, or investment.
Information obtained from third-party and public sources may be incomplete, inaccurate, outdated, or subject to change, and Auxo Capital Advisors makes no representation or warranty, express or implied, as to its accuracy, completeness, or timeliness. Readers should conduct their own independent diligence and consult appropriate professional advisers before engaging any advisor, intermediary, investor, lender, acquirer, or other transaction counterparty.
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