HCPEA Board of Directors

President - Craig Frances, M.D.


Vice President, Strategic Initiatives - Karen Kajmo


Craig Frances, M.D.
Managing Director, Summit Partners

Craig Frances, M.D. became HCPEA's President on July 1, 2016.  Dr. Frances is  Managing Director with global growth equity investor Summit Partners.  He joined the firm in 2003 and has since led numerous investments in the healthcare and life sciences sectors, working with management teams and physician-entrepreneurs to expand the reach and value of their businesses.  Dr. Frances is currently a board director of Healthline Media, Independent Vetcare, Integrated DNA Technologies, and Solutionreach.

Prior to Summit, Craig was founder and manager of three successful companies, and he previously served as Chief Medical Resident at the University of California, San Francisco. He holds a BA in psychology, with Honors, from Cornell University, and an MD from Cornell University Medical College, where he was Valedictorian and received the Paul Sherlock Prize, a peer-voted award for exceptional integrity and compassion in patient care.  Dr. Frances is the creator of the Saint-Frances Series, medical books that are used extensively in academic centers across the United States.  Craig was named one of the 40 Smartest People in Healthcare in 2014 by Becker's Hospital Review.

Adam Abramson
Managing Director, Audax Private Equity

Adam Abramson is a Managing Director for Audax Private Equity. Previously, Adam was with the private equity firm Thomas. H. Lee Partners, where he focused on evaluating and executing leveraged buyouts across a number of industries and assisted portfolio companies with strategic initiatives and add-on acquisitions. Mr. Abramson also previously worked at Morgan Stanley & Co. within its real estate principal investment group.

Mr. Abramson received an A.B. from Harvard College.

Elizabeth Betten
Managing Director, Madison Dearborn Partners

Elizabeth Betten, a Manager Director at Madison Dearborn Partners (MDP), focuses on investments in the healthcare industry.  She currently serves on the Board of Directors of Option Care, formerly served on the Board of Directors of Ikaria and was actively involved with Sirona Dental Systems.  Elizabeth joined MDP in 2004 as an Associate and re-joined after business school in 2008.  Prior to MDP, she worked in Investment Banking in the Healthcare Group at J.P. Morgan. 

Elizabeth also serves on the Foundation Board of the Ann & Robert Lurie Children’s Hospital of Chicago. 

Elizabeth holds an A.B. from Brown University and an M.B.A. from Stanford University Graduate School of Business

Michael Dal Bello
Investment Partner, Pritzker Group Private Capital
Director, past President

Michael is an Investment Partner at Pritzker Group Private Capital leading the firm's activities in the Healthcare sector.  Prior to joining Pritzker Group, Michael was a Managing Director at Blackstone Capital Partners, with an aggregate $63 billion of assets under management. During his tenure at Blackstone, Michael helped lead sourcing efforts in healthcare and insurance, investing more than $7 billion of equity capital in 13 transactions. Michael also served on ten corporate boards, working with management teams to drive value through operational improvements, acquisitions and divestitures. Before joining Blackstone, Michael was an Associate at Hellman & Friedman where he was involved with the analysis and execution of private equity investments in the media and professional services sectors. Prior to that, Michael worked as a consultant with Bain & Company and also was a Research Associate at the China Center for Economic Research in Beijing, PR China a Luce Scholar.

Michael earned an MBA from Harvard Business School an MA from Oxford University and undergraduate degrees form the Wharton School and the College of Arts and Sciences at the University of Pennsylvania.  His a member of the Council on Foreign Relations.

Diane Daych
Partner, Apple Tree Partners

Diane Daych is a Partner with Apple Tree Partners. Ms. Daych has over 25 years of investing, advisory and operating experience with 20 years focused on the healthcare services industry. She currently sits on the Board of Directors of TripleCare, CleanSlate, QualDerm, and the Tuck School's MBA Advisory Board.

Ms Daych received an MBA from the Tuck School at Dartmouth College and a BA in Economics from Lehigh University. 

Rajat Duggal
Managing Director, FFL

Rajat Duggal has been a Managing Director of FFL since 2004 and a member of the Firm since 2000.  Prior to joining FFL, he worked at Bain Capital and also in the Corporate Department of the law firm Kirkland & Ellis. Rajat started his career as an Auditor at Deloitte & Touche where he earned his certification as a Certified Public Accountant. Rajat currently serves on the Boards of Directors of Church's Chicken, and Transtar Holdings, and is active in the Firm's investment in Wilton Re. He was previously a Director of Guardian Home Care,  Kool Smiles, GeoVera Insurance Group, JoneTrading, and Discovery Foods.

Rajat graduated with Highest Distinction from Indiana University with a BS in Accounting and received a JD from Yale Law School.

Joseph Ibrahim
Managing Partner, MBF Healthcare Partners
Director, past President

Joseph Ibrahim is a Managing Partner with MBF Healthcare Partners, a healthcare focused private equity fund with over $300M in assets under management. Mr. Ibrahim is responsible for evaluation of healthcare acquisition opportunities, oversight of deal execution, and portfolio management.

Prior to joining MBF, Mr. Ibrahim was a Principal at The Riverside Company where he was responsible for healthcare acquisitions in North America, Europe, and the Asia-Pacific regions. He also led Riverside's healthcare specialization, and helped determine and maintain the firm's healthcare investment strategy.

Ibrahim earned his BA from Vanderbilt University and his MBA from Wake Forest University.  He resides in Atlanta.

Brian Morfitt
Partner, Frazier Healthcare

Mr. Morfitt joined Frazier Healthcare in 2003 as an Associate, became a Senior Associate in 2005, a Vice President in 2007, a Principal in 2009, and a Partner in 2011. Mr. Morfitt is a member of the Firm's Growth Equity Team. Mr. Morfitt assists with the development and review of growth equity investment opportunities.  He serves on the boards of Pentec Health, TridentUSA Health Services, Correct Care Solutions, Informed Medical Communications, and Pentec Health.

Prior to joining Frazier Healthcare, Mr. Morfitt was an Associate at Summit Partners. While at Summit, he focused on identifying and evaluating middle market growth equity investment opportunities in the healthcare, technology and industrial growth sectors.

Mr. Morfitt holds a BS, Phi Beta Kappa, and an MS in Management Science and Engineering from Stanford University.

Ali Satvat
Member, KKR

Ali J. Satvat is a Member of KKR and a senior leader of the Healthcare industry team within KKR's americas Private Equity platform. He has been involved in various healthcare investments during his career and currently serves on the the board of directors of several organizations, including Arbor Pharmaceuticals, Cohera Medical, Coherus BioSciences and PRA Health Sciences. Prior to joining KKR, Mr. Satvat was a Principal with Apax Partners, where he invested in healthcare and seved as a director of Chiron Holdings (Kinetic Concepts and LifeCell Corp.) and TZ Holdings (The TriZetto Group, Inc.) and was actively involved with many of the firm's successful growth investments.  Previously, Mr. Satvat held various positions with Johnson & Johnson Development Corporation, Audax Group, and The Blackstone Group where he was involved in a broad range of transactions.

Mr. Satvat hold an A.B. in History from Harvard College and an M.B.A. in Healthcare Management and Entrepreneurial Management from the Wharton School of the University of Pennsylvania.

Edward Sobol
General Partner, Welsh, Carson, Anderson & Stowe

Ed Sobol is a General Partner at Welsh, Carson, Anderson & Stowe.  He joined WCAS in 2010 and focuses exclusively on the firm's healthcare investment activity. Mr. Sobol is actively involved in the firm's investments in United Surgical Partners, K2M, Smile Brands, and National Dentex. Before joining WCAS, he was a Vice President at Bain Capital and previously worked at McKInsey & Company.

Mr. Sobol graduated with an MBA from Harvard Business School and a BA from Stanford University.

Terry Woodward
Director, Ontario Teachers' Pension Plan

Terry Woodward is a Director with Ontario Teachers' Pension Plan (OTPP). He manages the fund's private equity transactions in the Healthcare Section and oversees the Global Venture Capital & Growth Equity portfolio for OTPP.  He joined Teachers' in 2001 with more than 10 years experience in healthcare, including leading R&D and corporate development at biotechnology and medical diagnostics companies respectively.

Terry has worked on a number of investments and funds in venture capital, growth equity and priviate equity, including Heartland Dental Care, INC Research, Eyetech Pharmaceuticals, Ista Pharmaceuticals, Portola Pharmaceuticals, Intarcia Therapeutics, Tethys Bioscience, Cempra Pharmaceuticals and others. Additionally, Terry represents Teachers' Private Capital on numerous fund advisory boards.

Terry holds a Ph.D. from McGill University and an MBA from Michigan State University. He was an adjunct professor in the Department of Physiology at Michigan State University.

Robbert Vorhoff
Managing Director, General Atlantic

Robbert Vorhoff is a Managing Director at General Atlantic. He joined GA in 2003 and leads the firm's Global Healthcare sector. Robb currently serves as a member of the board of directors for Alignment Healthcare,and eviCore healthcare. Previous portfolio responsibilities include MedExpress Urgent Care, Align Networks, Grupo Qualicorp in Brazil, RiskMetrics Group and NYSE Euronext. Prior to joining GA, Robb was with Greenhill Capital Partners, the private equity division of Greenhill & Co.

Robb received a BS in Commerce with a concentration in finance from the McIntire School of Commerce at the University of Virginia. While at UVA, he was awarded the William M. Shermet Scholarship by the McIntire faculty on the basis of academic performance, character, and leadership. Robb remains actively involved with UVA as a member of the McIntire School of Commerce Advisory Board. He also serves on the board of directors of the Echoing Green, a leading provider of fellowship support for social entrepreneurs.

Karen Kajmo
Vice President, Strategic Initiatives

Karen Kajmo is Vice President, Strategic Initiatives of HCPEA.  In addition to managing HCPEA's day-to-day operations, her responsibilities include developing offerings that deliver unique value to HCPEA's member firms.  In collaboration with HCPEA's Board of Directors, Ms. Kajmo works to expand understanding of private equity's contributions to the healthcare economy.

As founding Executive Director, Ms. Kajmo was instrumental in launching HCPEA and creating its infrastructure. In addition to other professional associations, Ms. Kajmo served as Executive Director of the Harvard Business School Healthcare Alumni Association and Director of its Annual Alumni Conference.

Ms. Kajmo began her career in the software industry as a Product Manager/Product Marketing Manager at both enterprise and venture funding companies. She also worked as a management consultant assisting Fortune 500 companies develop and implement their information technology strategy. Ms. Kajmo earned an MS, Management Information Systems (High Honors) from Boston University.