Genstar Capital Names Former UnitedHealthcare CEO as Operating Partner

Extensive Experience in Managed Care Complements Healthcare Investment Team

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Apr 07, 2010, 08:45 ET

SAN FRANCISCO, April 7 /PRNewswire/ -- Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of the life science, healthcare services, software, financial services, and industrial technology industries, today announced the appointment of Robert J. Sheehy, an experienced healthcare executive who served as CEO of UnitedHealthcare, as an Operating Partner and member of its Strategic Advisory Board (SAB).

Mr. Sheehy served with UnitedHealth Group for more than 20 years, from 1986 to 2008, becoming CEO of UnitedHealthcare in 2000. In 1986 he had his first large regional role as President and Chief Executive Officer, Lincoln National/UnitedHealthcare Ohio, Kentucky, and Tennessee and over the next 12 years he held various multi-state and single-state responsibilities in the Midwest principally around the Ohio market. He led all of United's acquisitions that were health plan focused during this period of the company's extensive growth. He was named President and Chief Operating Officer, UnitedHealthcare in 1998 and after serving as CEO for seven years he became Senior Vice President UnitedHealth Group in 2007. Prior to joining UnitedHealthcare he was one of the early employees of Peak Health Plan from 1982 to 1986 before it was acquired by UnitedHealth Group, joining as Director of Operations and becoming CEO of Southern Colorado in 1984.

"As UnitedHealthcare grew to become one of the most successful and diversified managed care organizations, Bob played a leading role in strategy, operations and acquisitions, adding great value to United over the course of more than 20 years," said Jean-Pierre L. Conte, Genstar's Chairman and Managing Director. "We look forward to benefiting from his breadth and depth of knowledge and experience in the healthcare sector as we continue to expand our investing efforts in this field."

James D. Nadauld, a Genstar Principal who leads the firm's healthcare services practice, added, "Genstar's Operating Partners bring a unique level of industry specific expertise to our firm, and we're enthusiastic about partnering with Bob to enhance our investment activities in the healthcare services sector."

Genstar Capital's Strategic Advisory Board provides portfolio companies with a rich source of operating experience and strategic insight. Composed of influential senior executives who are current or former leaders of major corporations, the SAB includes executives who have served in senior capacities with such leading companies as Abbott Laboratories, Andersen Consulting, Pharmacia & Upjohn, CNA Insurance Companies, ITT Corporation, Oracle, Ingersoll Rand, Axia Health Management, MedImmune, Inc., WellPoint, Siebel Systems, and ICOS Corporation.

About Genstar Capital, LLC

Genstar Capital (www.gencap.com) is a leading private equity firm that for over 20 years has been actively investing in high quality middle-market companies. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating talent and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the life sciences, healthcare services, financial & business services, software & software services and industrial technology industries.