HealthQuest leads $100M financing for Ajax Health III

HealthQuest leads a $100M financing to form Ajax III. The capital will target investing in companies in the areas of medtech, healthcare services, and healthcare IT that focus on truly innovative approaches to addressing major issues in healthcare. HealthQuest Capital led the funding, with participation from Polaris Partners.

"Ajax represents a unique opportunity for HealthQuest to deploy capital at scale by investing in a platform where we have very strong conviction in the team," said Garheng Kong, MD, PhD, HealthQuest's founder and managing partner. "We are continuing to build a long-term partnership where our capital and network will complement Duke and the Ajax team's incredible operational acumen to catalyze innovative medical companies."

"We are excited about the progress of Ajax II companies and are thrilled to continue our partnership with Garheng and HealthQuest, as well as Polaris," said Duke Rohlen, Chairman and CEO of Ajax Health. "The HealthQuest team has been integral to the momentum Ajax II has built to date and we look forward to continuing to leverage its expertise to identify and execute on new opportunities for Ajax III."

Ajax III follows the $100 million previously raised in April 2019 for Ajax II.