Phillip Dingle, Managing Partner, HealthEdge Investment Partners

July 2026 — In an interview with Invest:, Phillip Dingle, managing partner of HealthEdge Investment Partners, discusses how disciplined investing, operational expertise, and a diversified healthcare strategy are shaping the firm’s approach in the current market. From navigating tariffs and uneven deal flow to leveraging artificial intelligence and expanding healthcare investments, HealthEdge emphasizes long-term value creation. “We seek buyers who will continue to invest in the businesses we have built, support existing teams, and drive long-term growth,” said Dingle.

What major changes impacted your operations over the past year?

Several factors shaped our operations over the past year. Tariffs had a measurable impact on roughly 10% to 15% of our portfolio, affecting certain businesses more directly than others. In some cases, we were able to adjust pricing to pass along those costs to customers, which helped mitigate the impact. We also experienced a unique situation where we exited a business in early 2025, closing the transaction just as tariff discussions were intensifying. Timing was critical, and it reinforced how external policy changes can influence deal outcomes.

Another key challenge has been the quality of deal flow. While the volume of opportunities has started to recover compared to earlier in the year, the overall quality has been inconsistent. It is not uncommon to begin evaluating a business with enthusiasm, only to discover through diligence that it does not meet expectations. As a result, we have been more selective and have focused heavily on add-on acquisitions within our existing portfolio . Over the past year, we completed several add-ons but closed only one new platform investment in the first quarter of 2025. 

How does your exit from LifeSync reflect your investment strategy?

LifeSync is a strong example of how we approach long-term value creation. When we initially invested, the business generated between $4 million and $5 million in revenue. By the time we exited, it had grown to well over $100 million. That growth came from a combination of organic expansion and strategic add-on acquisitions, supported by a strong management team and effective leadership.

We were able to position the company as an attractive acquisition target and ultimately sold it to a large, well-capitalized buyer. Importantly, the transition was beneficial not only from a financial perspective but also for the team. Many of the employees, including the CEO, remained with the company post-transaction. This reflects our focus on building businesses that are sustainable and attractive to long-term owners, rather than simply preparing them for a quick exit. 

What trends are shaping the healthcare investment landscape today?

We are seeing increased complexity and opportunity across several segments of healthcare. Provider-based businesses, including dental practices, oral surgery groups, hospitalist platforms, and teleradiology, are generally an area of growing interest. However, these businesses come with unique challenges. Working with highly skilled professionals such as physicians and surgeons requires a thoughtful approach, and scaling these businesses — particularly through acquisitions — can be more difficult than anticipated.

Accordingly, we maintain a diversified investment strategy across four key areas: niche medical devices and products, pharmaceuticals and supply chain services, third-party healthcare services, and technology or tech-enabled businesses. This diversification allows us to balance risk and capitalize on opportunities across different parts of the healthcare ecosystem. It also ensures that we are not overly dependent on any single segment, which is especially important in a rapidly evolving industry. 

What differentiates your approach to sourcing and growing portfolio companies?

One of our primary differentiators is our team composition. We are not solely financial engineers; approximately half of our team has operational experience, and several members have served as CEOs. This allows us to evaluate businesses from an operator’s perspective and determine how we can actively improve performance after acquisition.

Another advantage is our investor base, which includes former healthcare executives. This network provides access to proprietary deal flow that is often unavailable through traditional investment banking channels. As a result, we can identify higher-quality opportunities and build relationships earlier in the process.

We also take a conservative approach to leverage. Unlike many larger private equity firms that rely heavily on debt, we avoid overburdening portfolio companies with excessive leverage. This enables management teams to focus on operations and growth rather than financial constraints.

Finally, we prioritize investment over cost-cutting. In the first 12 to 18 months after acquiring a business, we often intentionally reduce profitability by investing in infrastructure, talent, and growth initiatives. While this may impact short-term results, it positions the company for stronger long-term performance and value creation. 

How has being based in Tampa Bay influenced your growth and talent strategy?

Tampa Bay has played a significant role in our development as a firm. Having been based here for decades, we have built deep relationships within the local healthcare community. I have personally lived here for more than 50 years and have had the privilege of volunteering at Tampa General Hospital for over 20 years. That experience has provided exposure to an exceptional talent pool of healthcare executives, including Tampa General Hospital CEO John Couris, and has offered valuable insight into high-performing healthcare organizations.

The region has also benefited from a notable influx of talent in recent years, particularly following the COVID-19 pandemic. Many professionals relocated from the Northeast and Midwest in search of a different lifestyle, which has expanded the local talent pool. This migration has made it easier for us to recruit high-quality professionals, often within close proximity to our headquarters. The continued growth of Tampa as a healthcare hub strengthens our ability to connect with both talent and investment opportunities.

How do you evaluate AI opportunities in healthcare?

AI is an area of significant interest, but it requires careful evaluation. There is a considerable amount of what I would describe as “vaporware,” where expectations exceed practical application. We focus on three primary areas where AI can deliver meaningful value.

First, AI has the potential to improve patient care by accelerating diagnosis and treatment. By leveraging global medical knowledge and research, AI can support providers in making more informed decisions, ultimately improving outcomes and saving lives.

Second, AI can enhance the quality of life for healthcare providers. Physicians and surgeons face increasing administrative burdens, particularly when it comes to documentation. AI tools that streamline note-taking and clinical documentation can reduce that burden, allowing providers to focus more on patient care and maintain better overall well-being.

Third, AI can drive operational efficiencies, particularly in areas such as claims processing and coding. However, this also introduces complex dynamics between providers and payers, as both sides increasingly use AI to optimize their positions. While this can improve efficiency, it also raises questions about long-term sustainability and fairness within the system. 

What are your key priorities for the next two to three years?

Our primary focus is on continued growth and value creation. We plan to expand our team to ensure we have the capabilities needed to deliver strong investment performance. In the near term, we aim to complete two additional deals within the next 12 months.

We are also preparing for the launch of our fifth fund, with fundraising expected to begin later this year or early 2027. Currently, we are investing out of our fourth fund, and our goal is to build a portfolio that delivers consistent, high-quality returns.

Beyond financial performance, we remain committed to responsible exits. We seek buyers who will continue to invest in the businesses we have built, support existing teams, and drive long-term growth. Community engagement also remains a core priority. As a firm rooted in Tampa, we are dedicated to contributing to the region’s development and maintaining strong connections within the community.