Healthcare

We partner with growing healthcare companies that are delivering solutions to improve patient outcomes and lower healthcare system costs.

Overview

Courage has a combination of extensive healthcare industry investing and value-add operating resources that make it an attractive partner for companies seeking growth capital. Over more than two decades, Courage has developed considerable domain expertise and a broad network of relationships with healthcare operating executives.

Strategy

The Courage healthcare strategy makes strategic debt and equity investments in healthcare companies with enterprise values less than $500 million. Courage Healthcare invests in companies experiencing strong growth and benefitting from specific healthcare trend tailwinds.

Courage provides capital that is less restrictive than traditional lenders and less dilutive than traditional growth private equity investors.

We customize our capital solutions to each company’s needs and consider valuation and dilution levels that satisfy all parties.

Courage delivers value through direct engagement with companies to address operational needs and to catalyze growth.

Courage helps drive value creation through its extensive network of seasoned healthcare executives and deep industry knowledge.

Approach

Courage seeks to be the partner of choice and to clearly understand the opportunities and challenges of the companies we invest in.

Courage typically invests $10 to $30 million per company and builds a portfolio in a carefully selected group of companies. Courage’s Operating Advisors often provide significant value to portfolio companies as members of its Board.

Characteristics

Company
Characteristics

Quality businesses with defensible market positions or competitive advantages

Enterprise values between $50 million and $500 million

Located in the U.S. and Canada

Industry
Focus

Healthcare Services

Medical Devices

Pharmaceuticals

Life Sciences

Healthcare Technology

Portfolio
Construction

Typical investment of $10 - $30 million

No fund leverage

Quality businesses with defensible market positions or competitive advantages

Enterprise values between $50 million and $500 million

Located in the U.S. and Canada

Healthcare Services

Medical Devices

Pharmaceuticals

Life Sciences

Healthcare Technology

Typical investment of $10 - $30 million

No fund leverage

Operating Advisors

Professional Experience:

Ms. Bishop is an experienced senior executive who has successfully built, operated and exited four businesses throughout her 30-plus year career in Home Health industry. Ms. Bishop is currently CEO of HomeCare Holdings. Previously she served as Chairman and CEO of Guardian Health for over 10 years before the company was merged into Accentcare. She was the CEO of PlayMaker Health, a CRM software for the home health industry.

Education:

Contact:

Professional Experience:

Dr. Stover is currently Chief Business Development Officer of Nashville Biosciences, a Vanderbilt spinout commercializing one of the largest EMR/biobanks in the World. Previously, he ran Corporate and Business Development at Aegis Sciences Corp., a 1,200-employee healthcare clinical laboratory. Dr. Stover joined Aegis as the Founder and President of Diagnovus, a venture-backed molecular diagnostic company focused on rare, orphan and less frequent diseases. Dr. Stover has also been a senior consultant with Warburg Pincus. He is also an advisor to The Vertical Group, a San Francisco-based Venture Capital firm focused in the Life Sciences. Dr. Stover graduated from the University of Virginia (Cum laude) with a B.S. in Biochemistry and a Ph.D. in Chemistry from Vanderbilt University (Summa cum laude), where he was a National Institute of Health Grant recipient.

Education:

Contact:

Professional Experience:

Mr. Sinha is the founder and CEO of eMids Technologies, a leading Nashville based healthcare IT company. Saurabh brings many years of expertise and experience in information technology, healthcare and global sourcing. As a pioneer in the healthcare IT industry, he established eMids’ healthcare technology capabilities, and successfully led the company to multiple rounds of private equity transactions. Previously, he worked with global outsourcing giant Wipro Technologies. Mr. Sinha serves on the Board of the Nashville Healthcare Council and has been a Nashville Healthcare Council fellow.

Education:

Contact:

Professional Experience:

Mr. Rector is an experienced healthcare executive and board member with over 30 years in private, publicly traded and private equity sponsored companies. He has served as CEO at Corizon Health, Ascension St Thomas Hospital, HCA Bayonet Point Regional Medical Center and South Bay Hospital and was a Vice President of Community Health Systems. He is a Nashville Healthcare Council Fellow.

Education:

Contact:

Professional Experience:

Dr. Masturzo is VP of Clinical Innovation, Home care where she leads the transformation of a fee-for-service business to a value-based care model at Humana. Previously, she was Chief Medical Officer at Misonix & Solsys focused on regenerative wound healing. Prior to that, she was the EVP of Clinical Innovation at Healogics for over 8 years. Prior to that she was the Founder and CEO of Wound Specialists of Greater Cincinnati, and Medical Director at TriHealth, St Elizabeth Healthcare, and UC Health.

Education:

Contact:

Professional Experience:

Mr. Madden has had a 30-year career at Johnson & Johnson (from 1986 to 2017), where he most recently served as Vice President of R&D for DePuy-Synthes and Vice President of Medical Device R&D Transformation from February 2016 to January 2017; as Vice President of New Product Development, Medical Devices from July 2015 to February 2016; and as Vice President of R&D for the Global Surgery Group from January 2012 to July 2015. He currently serves on the board of Novocure, Ossio and Microbot Medical Inc, and previously served on the Board of TSO3.

Education:

Contact:

Professional Experience:

Dr. Lynch is an experienced, successful biomedical entrepreneur and CEO. He has founded and led multiple companies in the orthopedic, dental and skin wound healing fields to large exits. He received his original training as a dentist and periodontist and went on to a Doctorate of Medical Sciences (DMSc) from Harvard Medical School. He has over 250 publications and patents, has received numerous business awards and honors and lectured extensively internationally. Dr. Lynch serves on the governing Board of Directors of Vanderbilt University Medical Center (VUMC), ranked among the top 10-15 medical centers in the United States, employing over 25,000 people with annual revenues of nearly $5 billion. He also Chairs the Board for the nonprofit BioTN Foundation and has served on medical missions to Guatemala.

Education:

Contact:

Professional Experience:

Mr. Karro is a principal of Hillcote Advisors, a firm focused on investing in and restructuring healthcare companies. Mr. Karro has over thirty years of healthcare industry experience. Prior to founding Hillcote, Mr. Karro held a number of senior executive positions in the healthcare industry, including serving as Executive Vice President of Caremark Rx. Mr. Karro served at Caremark Rx from 1998 through 2007 and during his time at Caremark Rx, he was responsible for mergers & acquisitions, integration planning, information technology and Medicare product development. Mr. Karro was also appointed as a charter member of the Governor’s e-Health Advisory Council in Tennessee. Mr. Karro is currently a member of the Board of Directors of: Tivity Health, and Sharecare. Previously, Mr. Karro served on the Board of Directors of Emageon and Angiotech. Mr. Karro earned his Bachelor of Business Administration degree with honors from the Ivey Business School at the University of Western Ontario and started his career with Arthur Andersen & Co.

Education:

Contact:

Professional Experience:

Mr. Doyle is the executive chair of Novocure, a company commercializing a new therapeutic modality for solid tumors using low-intensity electric fields. Recently, Novocure received FDA approval for its first indication, recurrent Glioblastoma Multiforme (GBM), the most virulent form of brain cancer; it is now conducting additional clinical trials. In 2002, Mr. Doyle co-founded medical device venture firm WFD Ventures, which provides financing and business-building expertise to medical device companies with the potential to make a major impact on patient care, working with entrepreneurs, doctors and scientists to improve medical outcomes and maximize the potential of their innovations. A graduate of MIT, Doyle established the MIT FIRST Scholarship for FIRST Robotics Competition participants admitted to MIT.

Education:

Contact:

Professional Experience:

Mr. Casey is Chief Executive Officer of Dentsply Sirona. He has more than 30 years of global health care experience and an outstanding track record in identifying and commercializing medical innovations. He previously served as Chief Executive Officer of the Medical segment of Cardinal Health. Prior to that, Mr. Casey served as Chief Executive Officer of the Gary and Mary West Wireless Health Institute from 2010 to 2012. Previously, Mr. Casey served as Worldwide Chairman for Johnson & Johnson's comprehensive care group and a member of the company's executive committee, where he oversaw its cardiovascular, diagnostic, diabetes and vision care franchises around the world. Mr. Casey serves on the board of the nonprofit Gary and Mary West Senior Dental Center and previously served on the boards of AdvaMed, the James Foundation, Surgical Specialties (formerly Angiotech) and West Corp. He earned a bachelor’s degree in finance and a master of business administration degree from the University of Notre Dame.

Education:

Contact:

Professional Experience:

Dr. Howard 'Skip' Burris serves as President and Chief Medical Officer of Sarah Cannon. He is an associate of Tennessee Oncology, PLLC, where he practices medical oncology. Dr. Burris' clinical research career has focused on the development of new cancer agents with an emphasis on first in human therapies, having led the trials of many novel antibodies, small molecules, and chemotherapies now FDA approved. In 1997, he established in Nashville the first community based early phase drug development program, which grew into the Sarah Cannon Research Institute. Dr. Burris also serves as the Chairman of the American Society of Clinical Oncology (ASCO). Dr. Burris completed his undergraduate education at the United States Military Academy at West Point, his medical degree at the University of South Alabama, and his internal medicine residency and oncology fellowship at Brooke Army Medical Center in San Antonio. He attained the rank of lieutenant colonel in the US Army, and among his decorations, he was awarded a Meritorious Service Medal with oak leaf cluster for his service in Operation Joint Endeavor.

Education:

Contact:

Professional Experience:

Mr. Vandewater was President and CEO of Ardent Health Services for 20 years until July 2020. Previously he was COO of HCA for over 7 years. In his career, he has served in executive positions ranging from CEO of Vista Hills Medical Center in El Paso to Executive Vice President and Chief Operating Officer at Republic Health Corporation. He currently serves on the board of directors and is a past Chairman of the Federation of American Hospitals, which represents investor-owned and managed community hospitals and health systems throughout the U.S. He has also served on the Health Care Systems Governing Council of the American Hospital Association (AHA).

Education:

Contact:

Professional Experience:

Ms. Bishop is an experienced senior executive who has successfully built, operated and exited four businesses throughout her 30-plus year career in Home Health industry. Ms. Bishop is currently CEO of HomeCare Holdings. Previously she served as Chairman and CEO of Guardian Health for over 10 years before the company was merged into Accentcare. She was the CEO of PlayMaker Health, a CRM software for the home health industry.

Education:

Contact:

Professional Experience:

Dr. Stover is currently Chief Business Development Officer of Nashville Biosciences, a Vanderbilt spinout commercializing one of the largest EMR/biobanks in the World. Previously, he ran Corporate and Business Development at Aegis Sciences Corp., a 1,200-employee healthcare clinical laboratory. Dr. Stover joined Aegis as the Founder and President of Diagnovus, a venture-backed molecular diagnostic company focused on rare, orphan and less frequent diseases. Dr. Stover has also been a senior consultant with Warburg Pincus. He is also an advisor to The Vertical Group, a San Francisco-based Venture Capital firm focused in the Life Sciences. Dr. Stover graduated from the University of Virginia (Cum laude) with a B.S. in Biochemistry and a Ph.D. in Chemistry from Vanderbilt University (Summa cum laude), where he was a National Institute of Health Grant recipient.

Education:

Contact:

Professional Experience:

Mr. Sinha is the founder and CEO of eMids Technologies, a leading Nashville based healthcare IT company. Saurabh brings many years of expertise and experience in information technology, healthcare and global sourcing. As a pioneer in the healthcare IT industry, he established eMids’ healthcare technology capabilities, and successfully led the company to multiple rounds of private equity transactions. Previously, he worked with global outsourcing giant Wipro Technologies. Mr. Sinha serves on the Board of the Nashville Healthcare Council and has been a Nashville Healthcare Council fellow.

Education:

Contact:

Professional Experience:

Mr. Rector is an experienced healthcare executive and board member with over 30 years in private, publicly traded and private equity sponsored companies. He has served as CEO at Corizon Health, Ascension St Thomas Hospital, HCA Bayonet Point Regional Medical Center and South Bay Hospital and was a Vice President of Community Health Systems. He is a Nashville Healthcare Council Fellow.

Education:

Contact:

Professional Experience:

Dr. Masturzo is VP of Clinical Innovation, Home care where she leads the transformation of a fee-for-service business to a value-based care model at Humana. Previously, she was Chief Medical Officer at Misonix & Solsys focused on regenerative wound healing. Prior to that, she was the EVP of Clinical Innovation at Healogics for over 8 years. Prior to that she was the Founder and CEO of Wound Specialists of Greater Cincinnati, and Medical Director at TriHealth, St Elizabeth Healthcare, and UC Health.

Education:

Contact:

Professional Experience:

Mr. Madden has had a 30-year career at Johnson & Johnson (from 1986 to 2017), where he most recently served as Vice President of R&D for DePuy-Synthes and Vice President of Medical Device R&D Transformation from February 2016 to January 2017; as Vice President of New Product Development, Medical Devices from July 2015 to February 2016; and as Vice President of R&D for the Global Surgery Group from January 2012 to July 2015. He currently serves on the board of Novocure, Ossio and Microbot Medical Inc, and previously served on the Board of TSO3.

Education:

Contact:

Professional Experience:

Dr. Lynch is an experienced, successful biomedical entrepreneur and CEO. He has founded and led multiple companies in the orthopedic, dental and skin wound healing fields to large exits. He received his original training as a dentist and periodontist and went on to a Doctorate of Medical Sciences (DMSc) from Harvard Medical School. He has over 250 publications and patents, has received numerous business awards and honors and lectured extensively internationally. Dr. Lynch serves on the governing Board of Directors of Vanderbilt University Medical Center (VUMC), ranked among the top 10-15 medical centers in the United States, employing over 25,000 people with annual revenues of nearly $5 billion. He also Chairs the Board for the nonprofit BioTN Foundation and has served on medical missions to Guatemala.

Education:

Contact:

Professional Experience:

Mr. Karro is a principal of Hillcote Advisors, a firm focused on investing in and restructuring healthcare companies. Mr. Karro has over thirty years of healthcare industry experience. Prior to founding Hillcote, Mr. Karro held a number of senior executive positions in the healthcare industry, including serving as Executive Vice President of Caremark Rx. Mr. Karro served at Caremark Rx from 1998 through 2007 and during his time at Caremark Rx, he was responsible for mergers & acquisitions, integration planning, information technology and Medicare product development. Mr. Karro was also appointed as a charter member of the Governor’s e-Health Advisory Council in Tennessee. Mr. Karro is currently a member of the Board of Directors of: Tivity Health, and Sharecare. Previously, Mr. Karro served on the Board of Directors of Emageon and Angiotech. Mr. Karro earned his Bachelor of Business Administration degree with honors from the Ivey Business School at the University of Western Ontario and started his career with Arthur Andersen & Co.

Education:

Contact:

Professional Experience:

Mr. Doyle is the executive chair of Novocure, a company commercializing a new therapeutic modality for solid tumors using low-intensity electric fields. Recently, Novocure received FDA approval for its first indication, recurrent Glioblastoma Multiforme (GBM), the most virulent form of brain cancer; it is now conducting additional clinical trials. In 2002, Mr. Doyle co-founded medical device venture firm WFD Ventures, which provides financing and business-building expertise to medical device companies with the potential to make a major impact on patient care, working with entrepreneurs, doctors and scientists to improve medical outcomes and maximize the potential of their innovations. A graduate of MIT, Doyle established the MIT FIRST Scholarship for FIRST Robotics Competition participants admitted to MIT.

Education:

Contact:

Professional Experience:

Mr. Casey is Chief Executive Officer of Dentsply Sirona. He has more than 30 years of global health care experience and an outstanding track record in identifying and commercializing medical innovations. He previously served as Chief Executive Officer of the Medical segment of Cardinal Health. Prior to that, Mr. Casey served as Chief Executive Officer of the Gary and Mary West Wireless Health Institute from 2010 to 2012. Previously, Mr. Casey served as Worldwide Chairman for Johnson & Johnson's comprehensive care group and a member of the company's executive committee, where he oversaw its cardiovascular, diagnostic, diabetes and vision care franchises around the world. Mr. Casey serves on the board of the nonprofit Gary and Mary West Senior Dental Center and previously served on the boards of AdvaMed, the James Foundation, Surgical Specialties (formerly Angiotech) and West Corp. He earned a bachelor’s degree in finance and a master of business administration degree from the University of Notre Dame.

Education:

Contact:

Professional Experience:

Dr. Howard 'Skip' Burris serves as President and Chief Medical Officer of Sarah Cannon. He is an associate of Tennessee Oncology, PLLC, where he practices medical oncology. Dr. Burris' clinical research career has focused on the development of new cancer agents with an emphasis on first in human therapies, having led the trials of many novel antibodies, small molecules, and chemotherapies now FDA approved. In 1997, he established in Nashville the first community based early phase drug development program, which grew into the Sarah Cannon Research Institute. Dr. Burris also serves as the Chairman of the American Society of Clinical Oncology (ASCO). Dr. Burris completed his undergraduate education at the United States Military Academy at West Point, his medical degree at the University of South Alabama, and his internal medicine residency and oncology fellowship at Brooke Army Medical Center in San Antonio. He attained the rank of lieutenant colonel in the US Army, and among his decorations, he was awarded a Meritorious Service Medal with oak leaf cluster for his service in Operation Joint Endeavor.

Education:

Contact:

Professional Experience:

Mr. Vandewater was President and CEO of Ardent Health Services for 20 years until July 2020. Previously he was COO of HCA for over 7 years. In his career, he has served in executive positions ranging from CEO of Vista Hills Medical Center in El Paso to Executive Vice President and Chief Operating Officer at Republic Health Corporation. He currently serves on the board of directors and is a past Chairman of the Federation of American Hospitals, which represents investor-owned and managed community hospitals and health systems throughout the U.S. He has also served on the Health Care Systems Governing Council of the American Hospital Association (AHA).

Education:

Contact:

Professional Experience:

Ms. Bishop is an experienced senior executive who has successfully built, operated and exited four businesses throughout her 30-plus year career in Home Health industry. Ms. Bishop is currently CEO of HomeCare Holdings. Previously she served as Chairman and CEO of Guardian Health for over 10 years before the company was merged into Accentcare. She was the CEO of PlayMaker Health, a CRM software for the home health industry.

Education:

Contact:

Professional Experience:

Dr. Stover is currently Chief Business Development Officer of Nashville Biosciences, a Vanderbilt spinout commercializing one of the largest EMR/biobanks in the World. Previously, he ran Corporate and Business Development at Aegis Sciences Corp., a 1,200-employee healthcare clinical laboratory. Dr. Stover joined Aegis as the Founder and President of Diagnovus, a venture-backed molecular diagnostic company focused on rare, orphan and less frequent diseases. Dr. Stover has also been a senior consultant with Warburg Pincus. He is also an advisor to The Vertical Group, a San Francisco-based Venture Capital firm focused in the Life Sciences. Dr. Stover graduated from the University of Virginia (Cum laude) with a B.S. in Biochemistry and a Ph.D. in Chemistry from Vanderbilt University (Summa cum laude), where he was a National Institute of Health Grant recipient.

Education:

Contact:

Professional Experience:

Mr. Sinha is the founder and CEO of eMids Technologies, a leading Nashville based healthcare IT company. Saurabh brings many years of expertise and experience in information technology, healthcare and global sourcing. As a pioneer in the healthcare IT industry, he established eMids’ healthcare technology capabilities, and successfully led the company to multiple rounds of private equity transactions. Previously, he worked with global outsourcing giant Wipro Technologies. Mr. Sinha serves on the Board of the Nashville Healthcare Council and has been a Nashville Healthcare Council fellow.

Education:

Contact:

Professional Experience:

Mr. Rector is an experienced healthcare executive and board member with over 30 years in private, publicly traded and private equity sponsored companies. He has served as CEO at Corizon Health, Ascension St Thomas Hospital, HCA Bayonet Point Regional Medical Center and South Bay Hospital and was a Vice President of Community Health Systems. He is a Nashville Healthcare Council Fellow.

Education:

Contact:

Professional Experience:

Dr. Masturzo is VP of Clinical Innovation, Home care where she leads the transformation of a fee-for-service business to a value-based care model at Humana. Previously, she was Chief Medical Officer at Misonix & Solsys focused on regenerative wound healing. Prior to that, she was the EVP of Clinical Innovation at Healogics for over 8 years. Prior to that she was the Founder and CEO of Wound Specialists of Greater Cincinnati, and Medical Director at TriHealth, St Elizabeth Healthcare, and UC Health.

Education:

Contact:

Professional Experience:

Mr. Madden has had a 30-year career at Johnson & Johnson (from 1986 to 2017), where he most recently served as Vice President of R&D for DePuy-Synthes and Vice President of Medical Device R&D Transformation from February 2016 to January 2017; as Vice President of New Product Development, Medical Devices from July 2015 to February 2016; and as Vice President of R&D for the Global Surgery Group from January 2012 to July 2015. He currently serves on the board of Novocure, Ossio and Microbot Medical Inc, and previously served on the Board of TSO3.

Education:

Contact:

Professional Experience:

Dr. Lynch is an experienced, successful biomedical entrepreneur and CEO. He has founded and led multiple companies in the orthopedic, dental and skin wound healing fields to large exits. He received his original training as a dentist and periodontist and went on to a Doctorate of Medical Sciences (DMSc) from Harvard Medical School. He has over 250 publications and patents, has received numerous business awards and honors and lectured extensively internationally. Dr. Lynch serves on the governing Board of Directors of Vanderbilt University Medical Center (VUMC), ranked among the top 10-15 medical centers in the United States, employing over 25,000 people with annual revenues of nearly $5 billion. He also Chairs the Board for the nonprofit BioTN Foundation and has served on medical missions to Guatemala.

Education:

Contact:

Professional Experience:

Mr. Karro is a principal of Hillcote Advisors, a firm focused on investing in and restructuring healthcare companies. Mr. Karro has over thirty years of healthcare industry experience. Prior to founding Hillcote, Mr. Karro held a number of senior executive positions in the healthcare industry, including serving as Executive Vice President of Caremark Rx. Mr. Karro served at Caremark Rx from 1998 through 2007 and during his time at Caremark Rx, he was responsible for mergers & acquisitions, integration planning, information technology and Medicare product development. Mr. Karro was also appointed as a charter member of the Governor’s e-Health Advisory Council in Tennessee. Mr. Karro is currently a member of the Board of Directors of: Tivity Health, and Sharecare. Previously, Mr. Karro served on the Board of Directors of Emageon and Angiotech. Mr. Karro earned his Bachelor of Business Administration degree with honors from the Ivey Business School at the University of Western Ontario and started his career with Arthur Andersen & Co.

Education:

Contact:

Professional Experience:

Mr. Doyle is the executive chair of Novocure, a company commercializing a new therapeutic modality for solid tumors using low-intensity electric fields. Recently, Novocure received FDA approval for its first indication, recurrent Glioblastoma Multiforme (GBM), the most virulent form of brain cancer; it is now conducting additional clinical trials. In 2002, Mr. Doyle co-founded medical device venture firm WFD Ventures, which provides financing and business-building expertise to medical device companies with the potential to make a major impact on patient care, working with entrepreneurs, doctors and scientists to improve medical outcomes and maximize the potential of their innovations. A graduate of MIT, Doyle established the MIT FIRST Scholarship for FIRST Robotics Competition participants admitted to MIT.

Education:

Contact:

Professional Experience:

Mr. Casey is Chief Executive Officer of Dentsply Sirona. He has more than 30 years of global health care experience and an outstanding track record in identifying and commercializing medical innovations. He previously served as Chief Executive Officer of the Medical segment of Cardinal Health. Prior to that, Mr. Casey served as Chief Executive Officer of the Gary and Mary West Wireless Health Institute from 2010 to 2012. Previously, Mr. Casey served as Worldwide Chairman for Johnson & Johnson's comprehensive care group and a member of the company's executive committee, where he oversaw its cardiovascular, diagnostic, diabetes and vision care franchises around the world. Mr. Casey serves on the board of the nonprofit Gary and Mary West Senior Dental Center and previously served on the boards of AdvaMed, the James Foundation, Surgical Specialties (formerly Angiotech) and West Corp. He earned a bachelor’s degree in finance and a master of business administration degree from the University of Notre Dame.

Education:

Contact:

Professional Experience:

Dr. Howard 'Skip' Burris serves as President and Chief Medical Officer of Sarah Cannon. He is an associate of Tennessee Oncology, PLLC, where he practices medical oncology. Dr. Burris' clinical research career has focused on the development of new cancer agents with an emphasis on first in human therapies, having led the trials of many novel antibodies, small molecules, and chemotherapies now FDA approved. In 1997, he established in Nashville the first community based early phase drug development program, which grew into the Sarah Cannon Research Institute. Dr. Burris also serves as the Chairman of the American Society of Clinical Oncology (ASCO). Dr. Burris completed his undergraduate education at the United States Military Academy at West Point, his medical degree at the University of South Alabama, and his internal medicine residency and oncology fellowship at Brooke Army Medical Center in San Antonio. He attained the rank of lieutenant colonel in the US Army, and among his decorations, he was awarded a Meritorious Service Medal with oak leaf cluster for his service in Operation Joint Endeavor.

Education:

Contact:

Professional Experience:

Mr. Vandewater was President and CEO of Ardent Health Services for 20 years until July 2020. Previously he was COO of HCA for over 7 years. In his career, he has served in executive positions ranging from CEO of Vista Hills Medical Center in El Paso to Executive Vice President and Chief Operating Officer at Republic Health Corporation. He currently serves on the board of directors and is a past Chairman of the Federation of American Hospitals, which represents investor-owned and managed community hospitals and health systems throughout the U.S. He has also served on the Health Care Systems Governing Council of the American Hospital Association (AHA).

Education:

Contact:

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Any information you receive from Courage is believed to be accurate. Nevertheless, neither Courage nor its agents are liable for any deficiencies in the accuracy, completeness, availability or timeliness of such information. The information provided on this Website does not necessarily reflect the most up to date or current information available. THE INFORMATION AND OPINIONS EXPRESSED HEREIN IS PROVIDED WITHOUT ANY WARRANTY OF ANY KIND. ANY PROJECTIONS, OUTLOOKS OR ASSUMPTIONS SHOULD NOT BE CONSTRUED TO BE INDICATIVE OF THE ACTUAL EVENTS WHICH WILL OCCUR. ANY PROJECTIONS, MARKET OUTLOOKS OR ESTIMATES IN THIS DOCUMENT ARE FORWARD LOOKING STATEMENTS AND ARE BASED UPON CERTAIN ASSUMPTIONS. FURTHERMORE, COURAGE DOES NOT UNDERTAKE TO UPDATE FORWARD-LOOKING STATEMENTS. OTHER EVENTS WHICH WERE NOT TAKEN INTO ACCOUNT MAY OCCUR AND MAY SIGNIFICANTLY AFFECT SUCH OUTLOOKS OR ESTIMATES.

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