InnovaCare Health, backed by private equity firms Summit Partners and Bain Capital Private Equity, announced on November 8 the completion of its acquisition of Pak Medical Group, a physician-led medical group based in New Braunfels, Texas.
As part of the InnovaCare family, Pak Medical Group will be supported by the organization’s management services organization (MSO) network, InnovaCare Partners. Pak Medical Group clinicians and team members now also have greater access to enhanced clinical tools, management expertise and other resources to ensure patients always receive the highest quality and most personalized care.
Since 2018, Pak Medical Group has served patients with high-quality, compassionate healthcare across Central and South Texas and the Texas Hill Country. With 29 clinicians across seven locations, the group treats roughly 16,000 patients annually and employs more than 120 team members.
InnovaCare Health provides integrated and value-based healthcare services through an integrated portfolio of medical groups, health plans, medical service organizations, clinical networks and more. The organization now empowers more than 150 providers and their practices in Florida and Texas with clinical, administrative, and operational resources.
According to the LevinPro HC database, this marks the 513th Physician Medical Group transaction of 2022 and the 14th in the primary care subsector. This also marks InnovaCare Health’s first acquisition since Bain Capital made a majority investment in the company in November 2021.
