
Devin Carty
CEO
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- Full Name
- Devin Carty
- Title
- Chief Executive Officer & Investment Committee Member
- Firm
- Martin Ventures
- Firm Type
- Healthcare-focused venture capital / private equity firm (also operates as an angel investor at the seed stage)
- Investment Stage
- Seed through growth; co-founds and incubates de novo companies
- Check Size
- Not publicly disclosed
- Target Company Profile
- Healthcare companies pursuing "bold ideas" that optimize care for convenience, clinical outcomes, access, and cost; value-based care enablers and alternative delivery models
- Sector Focus
- Healthcare — value-based/primary care, oncology, behavioral & mental health/substance use, orthopedics, healthcare analytics, and digital health delivery
- Geographic Focus
- Primarily U.S.; strong Nashville / Southeast concentration
- Location
- Nashville, Tennessee
Background
Devin Carty is the Chief Executive Officer of Martin Ventures, a Nashville-based healthcare venture firm founded by hospital-industry entrepreneur Charlie Martin Jr. Carty leads the firm's investment committee, builds and scales de novo companies, and provides oversight for its 30-plus active portfolio companies. His career is unusually broad for a venture investor: he began as a scientist — a biologist and biochemist working with NASA, where his research examined the effects of vibration on bacterial growth and antibiotic resistance — and served as a medical missionary building clinics in the Congo before moving into healthcare operations and strategy.
Before Martin Ventures, Carty held senior operating roles at large health systems. At Vanguard Health Systems he served as corporate Chief Experience Officer and Chief Marketing Officer, helping grow the organization to roughly 29 hospitals and about $6.5 billion in revenue ahead of its 2011 IPO and 2013 sale to Tenet Healthcare. He then became corporate Chief Talent Officer and Chief Strategy Officer at Cancer Treatment Centers of America (later acquired by City of Hope), where he is credited with helping the organization reach a 93rd-percentile employee engagement score, a patient-experience NPS of 96, and roughly 20% year-over-year revenue growth. He has also worked as a management-consulting partner advising major health systems on strategy and M&A.
As an operator-investor, Carty has co-founded several healthcare companies rather than simply backing them — including Wellvana, Reimagine Care, Trilliant Health, and Clariture Health. He sits on or chairs numerous boards, including Wellvana (co-founder and chairman), Reimagine Care (co-founder and chairman), Trilliant Health (chairman emeritus), StationMD, Mployer, Peregrine Health, Integrative Life Network, and Hashed Health, as well as civic and system boards such as the Nashville Healthcare Council, Nashville Classical Charter School, and Mercy Health.
Investment Thesis & Focus
- Invests almost exclusively in healthcare, with an emphasis on value-based care enablement and models that shift providers from fee-for-service to outcomes-based payment.
- Backs "bold ideas" that, per the firm, optimize healthcare for convenience, clinical outcomes, access, and cost for patients — reflecting founder Charlie Martin's stated view of the gap between available medicine and actual delivery.
- Operates as a builder, not just a check-writer: Carty frequently co-founds and incubates companies (Wellvana, Reimagine Care, Trilliant Health, Clariture Health) and takes chairman/board seats to help scale them.
- Sector depth spans primary care, oncology, behavioral/mental health and substance-use treatment, orthopedics, and healthcare analytics.
- Invests across the lifecycle — from seed/angel stage through growth — and favors experienced healthcare operators and physician co-founders (e.g., partnering with physicians Saleh Jaafar and Jairo Melo to launch Wellvana).
Notable Investments
- Wellvana — Co-founded value-based care enabler; supports 45,000+ providers and 220+ health systems, ~1M+ patients, ~$13B medical spend managed. Raised an $84M round in March 2023 (co-led by Heritage Group and Valtruis, with Memorial Hermann), bringing total funding to ~$140M.
- Reimagine Care — Co-founded home-centered, value-based cancer care company (Nashville). Raised a $25M Series A led by Santé Ventures, Martin Ventures, and LRVHealth; secured a strategic investment from Oncology Ventures in January 2024.
- Trilliant Health — Co-founded healthcare analytics company; recapitalized by Primus Capital.
- Clariture Health — Co-founded digital-marketing technology company for health systems.
- Contessa Health — Home-based care company; acquired (reported ~$250M).
- American Well (Amwell) — Telehealth; IPO (multi-billion-dollar enterprise value).
- Ovia Health — Acquired by LabCorp.
- Valify — Acquired by HCA Healthcare.
- Jvion — Acquired by JMI Equity.
- Avizia — Acquired by American Well.
- Healthcare Bluebook — Recapitalized by Primus Capital.
- One Drop — Recapitalized by Bayer.
- Clockwise.MD — Acquired by DocuTAP.
- Other current holdings include StationMD, Peregrine Health, Mployer, Livara, and Hashed Health.
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