The primary care operator MDVIP is being traded in a new deal announced last week. Goldman Sachs Asset Management Private Equity, the primary investing area within Goldman Sachs, and Charlesbank Capital Partners, a middle-market private investment firm with more than $15 billion of capital raised since inception, are taking majority ownership in MDVIP from Leonard Green & Partners. MDVIP was bought by Leonard Green & Partners in 2017 from Summit Partners, and the latter has maintained minority ownership until now. No financial terms were disclosed in the new deal.
MDVIP provides membership-based healthcare with a national network of over 1,100 primary care physicians serving 357,000 patients. Affiliated physicians of MDVIP limit the size of their practices, which affords them the time needed to provide patients with more individualized service and attention, including an annual, comprehensive preventive care program and customized wellness plan. The company was founded in 2000.
The company recently introduced a Women’s Health Program that pairs gynecological health with preventive primary care, and will use the new investments from Goldman Sachs Asset Management Private Equity & Charlesbank Capital Partners to expand further. The transaction is expected to close in the fourth quarter.
