Build thriving communities by partnering with premier patient-centric healthcare companies that improve the access, affordability, and quality of care for underserved and vulnerable populations
Ascend was founded in 2019 by dedicated professionals with complimentary experiences and a common vision: transform the delivery of healthcare to vulnerable and disadvantaged communities.
Ascend is led by co-founders In Seon Hwang, former global head of Healthcare at Warburg Pincus and member of the Executive Management Group, and Dr. Richard Park, founder and former CEO of CityMD, a leading patient-centric healthcare services company in New York and New Jersey.
Why did we create Ascend? What is our purpose?
Ascend is more than a private equity firm; it is a purpose driven partnership of two long-time friends. Deeply rooted in our personal life stories and our commitment to help build thriving communities, we saw a special opportunity to invest in entrepreneurs and companies that focus on underserved and vulnerable populations.
In Seon Hwang
I was born in a house without indoor plumbing. In so many ways, I shouldn’t even be here.
I vividly remember the feeling of being a terrified 7-year old child moving to the United States with my parents and three sisters. It was the early ’80s, and we had no money, no English language skills, no professional capabilities, and no resources. There were too many mouths to feed, and only a small inkling of how we would survive in this great country. I can still recall the anxiety and shame that my family experienced in our struggle to pay the bills and make rent.
The success that my family has today is only partly a testament to the power of hard work, high hopes, and positive intentions. We desperately needed help to access capital and operational mentorship to unlock our potential. This is something that so many communities continue to lack today.
At Ascend, we must fundamentally make great investments in order to have successful partnerships with our investors. We can apply our skills and resources to invest in differentiated companies that are making a meaningful, positive difference in vulnerable communities. From our beginnings to our later success, Rich and I have been uniquely training ourselves for this mission at Ascend.
Dr. Richard Park
As a first-born child of struggling immigrants who believed themselves to be second-class, yet grateful citizens of this great nation, I understand the implications of isolation and feeling like you don’t belong. Even today, I still struggle to feel like I belong.
After attending medical school in the Bronx, I was drawn to the emergency room. I found emergency medicine to be the most egalitarian practice of healthcare because everyone looks the same in a patient gown.
As the founder of CityMD, my team and I served kindness to patients of every type – from the Upper East Side to the South Bronx. We demonstrated persistent improvements because of our strong culture of kindness, quality, and efficiency in handling over 15 million patient visits over 9 years.
As a father, I am privileged to care for 2 adult children with special needs as they climb their own mountain of not belonging or fitting in. I wonder and worry about the quality and kindness of care they will receive as none of us are young and healthy forever.
Building Ascend with the purpose of creating a profitable and therefore sustainable system of care for underserved and vulnerable populations is not only an occupation, but a mission we share with families of all backgrounds. We all need a place where we belong and are cared for.
Ascend is dedicated to partnering with entrepreneurs and companies that are working to improve the lives of patients, physicians, and providers. In our commitment to improving the access, affordability, and quality of care, Ascend seeks to overcome the fragmentation of care-delivery through an integrated, operational strategy and a growth-oriented investment approach.
Ascend is founded on the belief that improving care quality and clinical success takes more than just financial capital – it requires the empowerment of physicians and patient communities through compassion, humility, and understanding. At Ascend, we are investing to support physicians with better resources, coordination, operational support, and technology to deliver the exceptional care we believe every patient and family should have access to.
What Makes Us Different
Team expertise in multi-site physician practice management, value-based healthcare delivery, network management, technology integration, and operational support.
Deep experience in building organized and coordinated healthcare delivery models with data and technology that are committed to improving patient lives.
Specific sub-sector focus within healthcare services, value-based care, information, and technology.
Alignment of interests between patients, providers, and payors to elevate the standard of care
Innate connection and understanding of communities with underserved and vulnerable populations to foster improvement and development