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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.
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 |
Key people at HealthCare Royalty Partners.
