Scientific Health Development ("SHD") is a boutique investment company located in Dallas, TX. SHD invests in early-stage, innovative healthcare-related technologies and products.


The genesis of SHD reaches back over 20 years. After meeting with a young, unproven radiology student working out of his garage on a new medical device in the field of cardiology, Philip Romano, well known in the restaurant business, became the technology's only outside investor and began managing the business matters. The student was Julio Palmaz and the device, the Palmaz® stent, became the first coronary stent brought to market by Johnson & Johnson, in what quickly become a multi-billion dollar market. Following this highly successful investment, Romano continued his angel investing in the healthcare space. Later he teamed up with Stuart Fitts, who had sold his business, to continue to pursue healthcare investment opportunities. At this point the pair decided to form an investment vehicle that would be dedicated to healthcare investing but continuing the principles and strategy utilized in their angel investing.


SHD's first fund, formed in 2006, is fully invested and has produced four exits to date. SHD II, formed in 2010, is also fully invested and has produced three liquidity events to date. SHD III, formed in 2015, has made seven portfolio investments and each continues to increase in value. SHD IV, formed in 2021, is in the process of finalizing its fundraise, and has invested in one portfolio comany to date. As SHD has grown its team and refined its investment thesis, we stay true to our core and serve a specific niche. We continue to raise and manage relatively small funds for a purpose. We focus on early-stage innovative medical technology that require smaller amounts of funding and have attainable, near term value inflection points that could lead to an exit. We maintain a very productive relationship with our portfolio companies, providing a number of skills, disciplines and experience that are needed by a young, capital efficient company.