Operator-led private equity.
Ironstone is a private equity and asset management firm. We acquire established businesses with strong unit economics, install operating discipline, and exit at materially expanded EBITDA, margins, and multiples. Currently concentrated in healthcare revenue cycle management and AI-enabled healthcare operations.
The operating model.
[01]
Acquire.
Disciplined sourcing of established businesses with strong unit economics, recurring revenue, and identifiable operating gaps. Concentrated today in healthcare RCM and specialty-billing — where the modernization gap is widest.
[02]
Operate.
One operating model installed across every platform we own: standardized workflows, proprietary automation, AI for the hard problems, and an analytics layer that runs weekly, not monthly.
[03]
Exit better.
We exit at materially higher multiples than we entered. Multiple expansion is fundamental value creation — operating discipline, integration, and bolt-ons. Not financial engineering.
Our Strategy
[01]
Workflow standardization
The return on an operating business sits in the workflow, not the software. We install one validated process across every platform we own — eliminating the patchwork that drives most operating economics in the wrong direction.
[02]
Automation and AI
We automate the work that should never have been manual — and run AI where pattern detection actually matters. Always paired with a human review point. Never a black box.
[03]
Analytics matching work cadence
Leadership runs the business weekly, not monthly. The reporting layer reflects that — every platform sees its operating metrics on the same schedule, in the same shape, with the same definitions.
The Leadership.
Peter Nguyen
Founder, Chairman & chief executive officer
Peter is the Founder, Chairman and CEO of Ironstone. His career spans investment banking — including strategic-team appointment — Google, founding and exiting an enterprise software company, and senior operating roles across global technology and financial services. He invests as a private-equity principal in tech-enabled service businesses and brings deep regulated-environment experience to Ironstone's operating model. Executive MBA, UCLA. PMP, Lean Six Sigma, PHR, Change Management Professional.
Partner with Ironstone
Dallas, TX
Summerlin, NV
invest@ironstonecap.com