Outcome Capital Expands Its HealthTech and Digital Health Practice with the Addition of Karl Hess as Managing Director

BOSTON–(BUSINESS WIRE)–Outcome Capital, a highly specialized life sciences and healthcare advisory and investment banking firm, today announced that Karl Hess has been appointed as Managing Director in its Boston office. Mr. Hess will lead the firm’s HealthTech and Digital Health segment, a rapidly growing practice area that is benefiting from Outcome’s 20+-year track record of successful transactions and managed transformation opportunities for its life sciences clients.

Having worked with and advised hundreds of digital health companies, healthcare and life sciences investors, customers, and partners, Mr. Hess is known as a leading expert on successful digital health business models, commercialization, investment strategies, and underlying technologies. He has been instrumental in the design, development, and commercialization of dozens of innovative products and services, representing hundreds of millions of dollars in incremental revenues and more than $20 billion in transactions. His work has spanned the digital health continuum, including medical devices, software (SaMD), digital health tools and therapeutics, health optimization, and population health management platforms.

Mr. Hess was most recently Interim President and CEO of Texas Health Aetna, a health innovation company created by Texas Health Resources and Aetna, a CVS Health Company. He was formerly founder and CEO of Kalico Partners, LLC, a population health management organization, and Chief Digital Health Officer of Collain Healthcare, a former subsidiary of LG CNS. Prior to Collain, Mr. Hess held the role of Vice President of Corporate Development at Welltok, Inc., a digital health and wellness company revolutionizing the way population health managers align consumer actions and behaviors with the right incentives and rewards. In one of his earliest digital health endeavors, Mr. Hess was a key member of the commercial team at Welldoc, Inc., helping to bring the company’s BlueStar platform—one of the world’s first and most successful digital therapeutics—to market. Earlier in his career, he worked for several startup and Fortune 500 molecular diagnostics, biopharmaceutical, medical technology companies, and consulting firms, including Becton Dickinson, Life Technologies, Genentech, and PRTM, across product development and management, market, business and corporate development, licensing, and M&A.

Dr. Oded Ben-Joseph, Managing Director at Outcome Capital, commented, “We have experienced considerable growth from mid- to growth-stage digital companies looking for sound strategies for mergers and acquisitions, private debt and equity placement, and other strategic and corporate finance advisory services. Unique among investment banking firms, our strategic approach to value enhancement relies on significant corporate and operational experience. Karl’s operational expertise complements our growing life sciences team and bolsters our background in digital technologies within the life sciences industry.”

“Having directly led payer, provider, and numerous other tech-focused startup organizations, my experience and perspective complements the other managing directors here at Outcome and informs our understanding of the continual evolution and impact of technology and interconnectedness within the healthcare and life sciences industries,” said Mr. Hess. “With the massive amounts of funding that have gone into the digital health space in recent years, we expect to see a coming wave of consolidation. Investors, boards, and CEOs need to plan for where they want to be when that wave hits. Outcome Capital can give organizations a competitive advantage by helping them navigate the changes that are certainly coming and maximize the value of their offerings and their company valuations.”

In addition to his new role at Outcome Capital, Mr. Hess also serves as Managing Director of OnDigitalHealth Consulting, LLC, a specialized strategy consulting firm that he founded to serve the burgeoning and rapidly diversifying digital health industry, serving clients across the healthcare and life sciences spectrum. He is also a Consulting Advisor to Novo Holdings, A/S, via its U.S. subsidiary, Novo Ventures.

About Outcome Capital

Outcome Capital (outcomecapital.com) is a highly specialized life sciences and healthcare advisory and investment banking firm, providing innovative companies with a value-added, market-aligned approach to mergers & acquisitions, partnering and corporate finance. The firm leverages its proven ‘strategy-led execution’ approach to value enhancement by assisting management teams and their boards in navigating both financial and corporate markets and implementing the best path for success. The firm’s strength stems from its multi-disciplinary, industry experts who draw from their broad relationships and a wide range of scientific, operational, strategic and transactional expertise across the value chain. Comprised of former CEOs, business development executives, venture capitalists, PhD/MD-level scientists and clinicians, and experienced commercialization experts, Outcome’s team is driven to propel innovation from bench to bedside.


Michelle Linn

Bioscribe, Inc.