Expert team
We are a multidisciplinary team of investors, clinicians, scientists, operators and executives with proven experience across the healthcare system.
Healthcare and Life Sciences
Supporting the companies shaping a stronger healthcare system
Partnering with innovative companies to improve clinical outcomes and solve healthcare's most pressing challenges
~$8.5b
Healthcare and Life Sciences investments since 20201
35+
Healthcare and Life Sciences investments since 20202
$140b+
Firm assets under management*
1. Healthcare and Life Sciences equity invested and committed as of 8/31/26
2. Healthcare and Life Sciences investments as of 8/31/26
What we do
What we do
We target investments of $100m to $2b+ in companies spanning life sciences, pharma services, providers, payors, healthcare technology and healthcare services.
Why partner with Sixth Street?
We pair deep knowledge of scientific, clinical, regulatory, commercial and operational dynamics with flexible capital and a long-term partnership approach to deliver tailored solutions that help companies meet their financing and growth goals.
Global platform
Our Healthcare and Life Sciences team sits across the entire Sixth Street platform, giving us the ability to draw on resources spanning sectors, geographies and capital structures.
Long-term capital for healthcare
We specialize in creating highly customized financing solutions to meet the nuanced demands of healthcare and life sciences businesses.
Strategic capital solutions
Bringing a creative, flexible approach to every partnership, with the ability to provide capital at scale
When partners turn to us
Growth capital
Flexible capital to fund organic growth, new sites, product launch and commercial scale-up
Acquisition finance
Committed and delayed-draw capital to fund M&A, tuck-ins and de novo expansion as platforms consolidate
Capital solutions
Bespoke structures up and down the capital structure, sized and shaped around a company's cash flows and development timelines
Recapitalizations
Balance sheet resets and shareholder liquidity that let founders and sponsors extend their ownership and continue building for the long term
Collaboration in action
Growth capital
BridgeBio Pharma is a commercial-stage biopharmaceutical company developing genetic medicines for rare diseases. Sixth Street led a $1b perpetual convertible preferred equity investment, including $800m funded at close, giving BridgeBio access to scaled, flexible capital treated as equity on its balance sheet to fund commercialization across its rare disease portfolio. The structure was built over several months of iterative work with management to match the company's funding needs.
Acquisition finance
Paratek Therapeutics is a commercial-stage biopharmaceutical company focused on antibiotics for drug-resistant infections. Sixth Street provided debt financing to support Paratek's combination with Radius Health, a commercial-stage company focused on osteoporosis and bone health, both backed by B-FLEXION Life Sciences. The financing created a scaled platform with a more balanced portfolio and strong free cash flow conversion to deleverage organically.
Acquisition finance
Datavant helps healthcare organizations securely activate data, automate workflows and power AI-ready experiences across the healthcare ecosystem. Sixth Street made a significant strategic investment in Datavant in support of the company's merger with Ciox Health. The combination created a scaled health data platform, backed by a partner able to underwrite a large, complex business at the leading edge of healthcare data.
Capital solution
Blueprint Medicines is a global precision therapy company developing therapies for cancer and blood disorders. Sixth Street provided a strategic financing of up to $910m, combining a $250m royalty purchase on Blueprint's lead products with a senior secured credit facility of up to $400m and a further $260m facility to support business development, structured to account for potential label expansion. The financing strengthened Blueprint's balance sheet with non-dilutive capital to drive innovation and growth. Blueprint announced its acquisition by Sanofi in June 2025 with an equity value of $9.1b.
Recapitalization
Apellis Pharmaceuticals is a commercial-stage biopharmaceutical company focused on complement-mediated diseases. Sixth Street provided a non-dilutive credit facility of up to $475m, with $375m funded at close, to refinance an existing development funding liability and materially reduce near-term cash burn. A delayed-draw tranche and access to a third-party working capital line gave Apellis added flexibility as its commercial products scaled. Apellis was acquired by Biogen in March 2026 for $5.6b.
Recapitalization
Velocity Clinical Research is a leading, fully integrated clinical trial site management organization, operating clinical sites across the U.S. and Europe. Sixth Street provided a $615m credit facility, including a $585m senior secured term loan and a $30m revolver, to fully recapitalize the business alongside GHO Capital. The financing added balance sheet headroom and reduced cash interest, positioning Velocity to continue executing its growth strategy.
News and insights
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