Chase Capital Partners, the private equity arm of Chase Manhattan Corp., has formed a partnership to invest in midsize medical product companies.
Fairfield Chase Medical Partners LLC, based in Clearwater, Fla., has $50 million earmarked for investment.
Charles T. Orsatti, a health care consultant to Chase Capital Partners for the last 10 years, will run Fairfield. He was formerly the chairman and chief executive of Fairfield Medical Products Corp., which he sold in 1995.
"The medical product sector of the health care market is experiencing enormous changes," Mr. Orsatti said. "In the past few years we have come across numerous opportunities to invest in and build midsize medical product companies."
Chase Capital Partners bills itself as the largest private equity affiliate of a U.S. commercial bank, with $6.5 billion under management throughout the world.