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HealthCare Royalty Partners (HCRx) is a royalty acquisition company based in Stamford, Connecticut, that invests in royalties from commercial-stage and near-commercial-stage biopharmaceutical assets. The firm provides non-dilutive capital solutions by purchasing royalty streams on products across multiple therapeutic areas, with a significant focus on rare and orphan diseases, which comprise 52% of its portfolio. HCRx manages approximately $3 billion in assets under management as of November 30, 2025, having committed over $7 billion in capital across 55+ products. KKR acquired majority ownership of HCRx in July 2025 for $3 billion, with Clarke Futch retaining leadership. The firm has provided funding to partners such as Liquidia Corporation for Yutrepia commercialization and acquired royalties from Bayer on a Bridge Bio cardiovascular drug. HealthCare Royalty Partners was founded in 2006 by Clarke B. Futch.
Key people at HealthCare Royalty Partners.
Key people at HealthCare Royalty Partners.
HealthCare Royalty Partners has 5 tracked investments across 3 companies. The latest tracked deal is $35.4M Debt / Other Equity in Suneva Medical in July 2015.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jul 29, 2015 | Suneva Medical | $35.4M Debt / Other Equity | — | Almirall, Polaris Partners |
| Feb 17, 2015 | Invuity | $20.0M Other Equity | Wellington Management | Gregory Lucier, Interwest Partners, Kleiner Perkins, Valence Life Sciences |
| Sep 19, 2014 | Cardiorentis | $57.8M Other Equity | Healthcare Royalty Partners | — |
| Mar 1, 2014 | Invuity | $36.0M Series E | Healthcare Royalty Partners | Amoon Fund, Domain Associates, InterWest, Osage University Partners, Vivo Capital, Kleiner Perkins, Valence Life Sciences |
| Jan 9, 2014 | Suneva Medical | $55.0M Debt / Series B | Brian Chee | Comerica Bank |
