General Atlantic has hired Tracy Bahl as a its first healthcare special advisor. Bahl was formerly chief executive officer of Uniprise, division of UnitedHealth Group.
Before joining UnitedHealth Group, Bahl held various executive positions at CIGNA HealthCare, most recently as senior vice president of CIGNA’s Commercial Health Plan business segment. He also held senior positions at UniHealth America, Maxicare Health Plans and the National Institute for Cardiovascular Technology.
General Atlantic has many investments in the healthcare sector and has acquired healthcare companies in several countries. Among the firm’s current and past portfolio companies in the sector are Indian pharmaceutical research and manufacturing company Organosys, German pharmaceutical services company CompuGROUP and Chinese drug research and development service provider WuXi PharmaTech.
The healthcare sector has seen a spike in activity in recent months. The Blackstone Group and 3i have both hired healthcare advisors this fall, and the sector has seen several large deals including Vestar Capital Partners’ $1.1 billion (€751 million) acquisition of US cancer treatment chain Radiation Therapy Services and CVC’s A$1.2 billion ($1 billion, €729 million) exit from Australia and New Zealand-based DCA Agedcare Group.