RALEIGH – NovaQuest Private Equity, which can trace its heritage back to Quintiles long before that firm became IQVIA through a merger, is taking on a new name.

The firm is now known as QHP Capital. But its mission of focusing on life sciences for investments and acquisitions isn’t change, QHP says.

“The QHP brand represents the collective experience of our team and a long-standing track record of investing in the healthcare industry, including 20 years of independently underwriting opportunities,” the partners said in a join statement Thursday. “We will remain focused on our core strategy of developing partnerships with companies at key inflection points, in the process enhancing operations and scaling the commercial efforts of these already thriving businesses.”

QHP is short for Q Healthcare Partners, the “Q” a tribute to the Quintiles legacy, the firm said.

Partners include: Jeff Edwards, Michael Sorensen, Vern Davenport, Ashton Poole and Matt Jenkins. Some 20 people work at QHP.

QHP is very active in investments and deals with assets under management totaling $1.98 billion. Its most recent fund which closed earlier this year totaled $500 million and three investments have been made, QHP notes.