Former HCA TriStar President to Join Clayton Associates

NASHVILLE, Tenn., Dec. 16, 2011 /PRNewswire/ -- Clayton Associates, LLC, a leading source of equity capital for early-stage companies in the Southeast, is pleased to announce that Larry Kloess is joining its team. Kloess, the former president of the HCA TriStar division of hospitals, will be a senior advisor with the firm effective January 2012.

For the past six years, Kloess has led the Nashville, Tenn.-based TriStar Health System, providing multi-facility leadership for 17 hospitals and 10 surgery centers across Tennessee, Kentucky, and Georgia. Kloess, who announced his retirement from HCA in September, has more than 30 years of healthcare leadership experience including such roles as chief operating officer of American Pathology Resources, chief executive officer of Centennial Medical Center, and CEO of Conroe Regional Medical Center in Conroe, TX. Kloess is also the immediate past chairman of the Tennessee Hospital Association.

"Larry brings a wealth of healthcare leadership and business expertise to Clayton Associates," said Stuart McWhorter, president of Clayton Associates. "He has known and worked with the principles of our firm for many years and has a keen understanding of both healthcare operations and innovation. We value his unique perspectives and look forward to his contributions to our team."

As part of Kloess's new role, he will advise both the firm and FCA Venture Partners, the venture capital investment manager of Clayton Associates, on current portfolio companies and on prospective investments. FCA Venture Partners, which makes early and growth stage investments, is currently raising its fifth fund with a focus on healthcare and technology.

Matt King, managing partner of FCA Venture Partners, said, "Having someone with Larry's breadth of healthcare experience will give our portfolio companies a better understanding of the needs of today's healthcare executives, operators and end users. In this changing landscape, it's important to have a veteran like Larry on the team."

In addition to expanding its team of senior executives, Clayton Associates co-founder and president Stuart McWhorter will now serve as chairman of the firm, while long time Nashville healthcare veteran and entrepreneur, R. Clayton McWhorter, transitions to chairman emeritus. Clayton McWhorter will maintain his position on the advisory board of FCA Venture Partners.

"Fifteen years ago, when we started Clayton Associates, I had an opportunity of a lifetime: to work with my son in creating something new," said Clayton McWhorter. "It has been one of my proudest accomplishments to work with him and watch our firm grow over these years. But I am confident the best years for Clayton Associates will be under Stuart's continued leadership into the future."

Contact: Rosemary Plorin
Lovell Communications Inc.
(615) 297-7766

SOURCE Clayton Associates