Ascend Capital Partners and CareAbout acquired Medical Specialists of the Palm Beaches, Inc. (MSPB) on December 5.
MSPB has more than 85 Providers, across more than 25 offices in Palm Beach County and Broward County, Florida. MSPB offers primary care, cardiology, neurology, hematology/oncology, concierge medicine and laboratory services.
Ascend Capital Partners, founded in 2019, is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability and quality for vulnerable and underserved populations.
CareAbout is a management company and service provider that helps to empower physicians, enable value-based care success and maximize growth.
With this acquisition, MSPB will use the funding to expand its footprint and value-based care offerings, enhance patient education efforts and invest in additional clinical specialty services to serve additional patients throughout South Florida. The terms of the acquisition were not disclosed.
According to the LevinPro HC database, this acquisition marks the 559th Physician Medical Groups (PMG) transaction of 2022. This is a 35% increase from the 413 PMG deals announced between January 1, 2021, and December 5, 2021.
