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Varsity Healthcare Partners Adds Steve Hamman as Executive-in-Residence

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Former President of Blue Cross Blue Shield Illinois will support and grow Varsity’s investments in innovative companies focused on improving patient experiences and reducing costs

STAMFORD, Conn., April 11, 2024-- Varsity Healthcare Partners (“VHP,” “Varsity” or the “Firm”), a healthcare-focused private equity investment firm, today announced the addition of Steve Hamman to its leadership team as an Executive-in-Residence. Based out of Chicago, Mr. Hamman has partnered with VHP to identify, evaluate, and invest in healthcare companies that seek to improve experiences and reduce costs for patients across the U.S. healthcare system.

Mr. Hamman joins VHP after more than three decades at Health Care Service Corporation (“HCSC”), the largest customer owned health insurer in the U.S., where he most recently served as President of Blue Cross Blue Shield Illinois (“BCBSIL”). Prior to his time as President, Mr. Hamman served in several senior positions over the course of his tenure, during which he meaningfully expanded the types and quality of care available to HCSC’s members, providers, and customers. Specifically, he was responsible for HCSC’s network and provider partnership strategy and investments, provider and network analytics, and affordability of care across HCSC’s five markets; developed and deployed HCSC’s value-based care strategy, which directly resulted in shared savings, capitation, bundled reimbursement models, and accountable care organizations for more than eight million HCSC-covered lives; and launched five new Medicare Advantage and Medicaid network products that created over 300,000 new government program members.

“VHP has established itself as a well-respected healthcare firm with a collaborative, partnership-based model that directly aligns with my approach throughout my career. I am excited to leverage my experience and network to support Varsity as it seeks to partner with organizations that implement a meaningful value-based care approach and relentlessly pursue new value creation,” added Mr. Hamman.


Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP’s collaborative partnership approach involves driving significant operational and managerial enhancement early in the life of each platform investment followed by the execution of an aggressive and multidimensional growth plan. The investment team is supported by a highly differentiated Operating Partner program consisting of dedicated healthcare executives across all major functional operating areas. As such, VHP is able to provide exceptional strategic and operational support necessary to maximize the performance and success of each platform investment. VHP is committed to true partnerships emphasizing core values based on transparency, respect and accountability.

For Varsity Healthcare Partners
Mickey Mandelbaum or Julia Sidi
Prosek Partners /

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