Matt Holt

We as a firm have been building out our team and our organization, including the build out of our operating partner, supporting team, our team of investment professionals,

increasingly has a track record of replicating a success.

So there's the team complexion within our own firm.

And then ultimately there's also the team members at the portfolio companies themselves.

That allows us to underwrite, value creation,

targets, value creation approaches that have previously worked.

So while it looks like it may be bold or taking more risks from the outside in, really what's happening is we're re-underwriting elements of value creation where we've been successful previously.

We also are able to avoid mistakes that we have made in the past.

And we catalog those lessons learned.

And ultimately, our business model is a

It's a constant and continuous improvement process.

And ultimately, that's allowed us to stay ahead of the market and embed on sort of the next generation of opportunities we see in the industry.

Ultimately, what the venture market is really good at is corralling the best talent in the world, building and designing modern, cutting-edge product roadmaps, building out best-in-class engineering capabilities and correspondingly products, combining

that element of the market with access to scale, scaled access to data, scaled access to workflow, scaled access to customers is where private equity can add a lot of value and marrying ultimately innovation with access to scale has the effect of speeding up the commercial adoption of those modern and innovation tools really led by an accelerating technology market today.

There are three major issues with the current state of the US health care system.

Number one, we continue to have suboptimal health outcomes as measured by comparison stats versus other countries, especially relative to the historical investment in the industry.

the economics associated with the industry.

Suboptimal health outcomes is a major issue across things like mortality rates, infant mortality rates.

I could list a whole set of clinical KPIs where we're really laggard and we shouldn't be in this country.

Number two, growing costs.