Cincinnati-based private equity firm, RC Capital, announced on May 31 that it acquired James River Cardiology. By partnering with James River Cardiology, RC Capital formed Aligned Cardiovascular Partners.
Provident Healthcare Partners advised James River Cardiology and Kaufman & Canoles served as the legal counsel, while McDermott Will & Emery LLP served as legal counsel to RC Capital. The financial terms of the deal were not disclosed.
James River Cardiology operates out of six locations in the Richmond, Virginia MSA. According to its website, the practice is run by a team of eight physicians and a support staff of nine nurses and physician assistants.
Founded in 1994, RC Capital seeks to invest in commercial-stage medical technology companies operating in the healthcare services, medical devices and healthcare information technology sectors.
According to data captured in the LevinPro HC database, this acquisition represents the 249th Physician Medical Groups (PMG) transaction of the year, and the 12th in the cardiology specialty. Private equity firms and/or their portfolio companies represent 62% of the PMG buyers.
