Avista Capital Partners, a private equity firm focused exclusively on healthcare, announced that effective December 31, 2021,Tom Dean will transition from Co-Managing Partner and Co-Chief Executive Officer to Chairman of the Firm. David Burgstahler, who co-founded Avista with Tom Dean in 2005, and has been serving alongside him as Co-Managing Partner and Co-Chief Executive Officer, will serve as the Firm's sole Managing Partner and Chief Executive Officer also effective December 31, 2021. These changes will ensure continuity while setting the stage for significant growth moving forward.

As Chairman of Avista, Tom will continue to serve as Co-Chairman of Avista's Investment Committees, providing insight and strategic guidance to the leadership team and Avista's broader organization.  He will also remain involved in sourcing transactions and in the coverage of his existing investments.  Tom currently serves on the Boards of Acino International AG, eMolecules, National Spine & Pain Centers, Vision Healthcare and will serve on the Board of Cooper Consumer Health when that investment closes later this year.  He received a B.A. from the University of Virginia, where he was an Echols Scholar, and an M.B.A. with high distinction from Harvard Business School, where he was a Baker Scholar.

Mr. Burgstahler's position represents a continuation of the firm's overall leadership strategy, as he was named President in 2009, Co-Managing Partner in 2016 and Co-CEO in 2018. As sole Managing Partner and CEO,  David will continue to oversee all aspects of Avista's operations and investment activity. He serves as a Director of Arcadia Consumer Healthcare, Cosette Pharmaceuticals, Inform Diagnostics, Osmotica Pharmaceuticals, United BioSource Corporation, XIFIN and other private boards. Prior to forming Avista, David was a Partner of DLJ Merchant Banking.  He received a B.S. in Aerospace Engineering from the University of Kansas and an M.B.A. from Harvard Business School.

Avista also announced an expansion of its partner group, key promotions across all levels of its investment team and several new professionals that recently joined the firm's growing ranks. These include:

Partner Promotions: Josh Tamaroff and Alex Yu have been named Partners. Mr. Tamaroff joined Avista in 2009 and previously worked as an Analyst in the leveraged finance group at Lehman Brothers and Barclays Capital. Mr. Yu joined Avista in 2017 from the Private Equity Group at Goldman Sachs. Prior to joining Goldman Sachs, he worked as an Associate at Fenway Partners and as an Analyst in the Technology Group at Lehman Brothers and Barclays Capital. These two promotions bring the total number of Partners in the firm to six, as they join Dean, Burgstahler, Robert Girardi, who has been with the firm for 11 years and has been a partner since 2016, and Sriram Venkataraman, who has been with the firm for 14 years and has been a partner since 2011.  

Investment Team Promotions: Garrett Lustig and Ryan Moran, who joined Avista in 2015 and 2018, respectively, have been promoted to Principal, effective September 1. Zach Kushner, who also joined the Firm in 2018, has been promoted to Vice President, effective July 1.  

Investment Team Additions: Akbar Mirza joined Avista as a Vice President; and Beibhinn George, Gillian Gude and Will Sauser have joined Avista as Associates.

Mr. Dean commented, "Avista's success reflects, in large measure, the uniquely beneficial partnership that David and I have enjoyed for more than 25 years across 40 healthcare transactions. This dynamic remains unchanged as David assumes his new role as sole Managing Partner while, as Chairman, I will focus on ensuring Avista builds on our track record of combining superior investment talent with industry experts to source, evaluate and execute attractive investments."

Mr. Burgstahler added, "We are pleased that our team and investors will continue to benefit from Tom's vision and keen investment acumen in his new role as Chairman. Likewise, we are delighted to announce a series of well-deserved promotions, including Josh and Alex as new Partners, reflecting Avista's growth and momentum, as well as their individual contributions to the Firm's success moving forward."

Mr. Burgstahler concluded, "The new additions and promotions throughout our investment ranks continue to advance Avista's ability to pursue new and compelling investment opportunities, with an unparalleled opportunity set.  We are proud of our team's dedication and the depth of talent across our platform."