Longtime MatrixCare leader John Damgaard is partnering with private equity firm Waud Capital Partners to acquire companies and build a new healthcare information technology software platform.

Damgaard was CEO of MatrixCare for six years and has more than 25 years of management experience in health IT. He has  a commitment of $150 million in equity capital from Waud as he shapes this new venture.

John Damgaard
John Damgaard

Damgaard helped grow MatrixCare and make it a post-acute industry leader, earning Best in Klas designations in 2017, 2018 and 2019.  ResMed acquired MatrixCare in 2018 for $750 million. Damgaard stepped down last fall.

Prior to MatrixCare, Damgaard was senior vice president and COO of Mediware Information Systems, which provides clinical software solutions, including blood management, cell therapy, medication management and business intelligence-based performance management solutions.

“This is a critical period for the healthcare economy, and the opportunity to improve patient outcomes and reduce inefficiencies through software and analytics has never been greater,” Damgaard said last week. ”With the Waud Capital team’s deep domain expertise in healthcare and technology, I truly believe we can make a meaningful impact together.”

Waud is a growth-oriented private equity firm with total capital commitments of approximately $3.2 billion. The firm partners with management teams in healthcare services and business and technology services. Since its founding, Waud has completed more than 300 investments, including platform companies and follow-on opportunities. 

“We are thrilled to partner with John in our effort to acquire and build a world-class HCIT platform,” said Matt Clary, Waud Capital partner. “John’s track record demonstrates consistency in strategic vision and sector thought leadership, with a commitment to human capital development and product excellence, culminating in significant value creation for investors.”