On March 7 WaveEdge Capital LLC, an independent healthcare and life sciences investment bank, announced that it served as the exclusive sell-side M&A advisor to Sequoia Health in its sale to Tri-Valley Medical Group.
Sequoia, one of the largest independent physician associations in central California, has more than 1,300 leading primary care and specialty physicians. It serves more than 145,000 patients annually and operates out of 27 locations in California.
Tri-Valley Medical Group, a portfolio company of Massachusetts-based private equity firm Webster Equity Partners, is a physician platform that provides primary care and population health management services to members in Southern California.
This is Tri-Valley Medical Group’s first acquisition of the year. The financial terms were not disclosed.
WaveEdge’s Managing Partner, John Selig, said, “We are pleased to have worked with these stellar teams to complete a transaction with such potential for future growth and expanded services for patients.”
According to data captured in the LevinPro HC database, this acquisition marks the 106th Physician Medical Group (PMG) transaction of 2024 and the eighth in the internal medicine specialty. Between January 1, 2023 and March 7, 2023, 110 PMG transactions were reported.
