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Hospitals Partnering with Private Equity: A Strategic Realignment

Hospitals Partnering with Private Equity: A Strategic Realignment

by | Jun 7, 2023 10:20 am | Hospitals, Private Equity

Levin Associates attended AHLA’s Health Care Transactions Conference on April 17-19, 2023, and the insights shared below are from panel discussions our writer observed in person and from follow-up conversations with panelists. Partnerships with private equity-backed groups and other non-traditional healthcare entities have created new opportunities for hospital systems to be even more strategic about their operations. One of the recurring themes discussed at the AHLA conference was that many traditional health systems are dealing with cash flow problems – and that partnerships with third-party groups represent a potential solution. As referenced in our previous article “A Growing Trend:... Read More »
KKR-Backed Covenant Physician Partners Adds a New ASC in Southern California

KKR-Backed Covenant Physician Partners Adds a New ASC in Southern California

by | Jun 6, 2023 2:48 pm | Ambulatory Surgery Centers, Other Services, Private Equity

Covenant Physician Partners, a portfolio company of KKR, announced on June 6 its merger with Wilshire Center for Ambulatory Surgery. Wilshire Center for Ambulatory Surgery is an ambulatory surgery center (ASC) in Los Angeles, California. The ASC has two operating rooms. Covenant Physician Partners is a national physician services organization operating in 20 states in partnership with 70 practices and nearly 850 providers. It delivers a full range of administrative and clinical support functions to its partnered physicians and their staff. Covenant provides patient care in nine ASCs and seven physician practice locations throughout California. The addition of the Los Angeles MOB expands... Read More »
Elevate ENT Enters Louisiana with Acquisition of Louisiana Ear, Nose, Throat and Sinus

Elevate ENT Enters Louisiana with Acquisition of Louisiana Ear, Nose, Throat and Sinus

by | Jun 1, 2023 10:24 am | Physician Medical Groups, Private Equity

Elevate ENT Partners, backed by Audax Private Equity, announced on May 30 that it acquired Louisiana Ear, Nose, Throat and Sinus (LENTS). The transaction makes LENTS the first Elevate ENT practice in the state of Louisiana. Financial terms of the deal were not disclosed. LENTS provides patients in the Baton Rouge and surrounding communities with ear, nose and throat (ENT) and sinus treatment. According to the company’s website, there are 14 physicians on staff. With more than 75 otolaryngology centers and 120 physicians, Elevate ENT Partners invests in private ENT and allergy practices across the United States. It provides scalable infrastructure to help practices reach the next... Read More »
Trinity Hunt Partners Announces Majority Investment in Centricity Research

Trinity Hunt Partners Announces Majority Investment in Centricity Research

by | Jun 1, 2023 9:47 am | Other Services, Private Equity

Trinity Hunt Partners announced on May 31 a majority investment in Centricity Research, a leading clinical research services provider specializing in conducting Phase I-IV clinical trials across more than 40 therapeutic areas.  With more than 35 locations across the United States and Canada, Centricity has the capabilities and expertise to partner with pharmaceutical sponsors and contract research organizations in the design and execution of clinical trials. The company’s centralized processes, patient recruitment capabilities, integrated technology and dedicated team of clinical research professionals have conducted more than 2,500 studies and more than 100 FDA and Health Canada drug... Read More »
RC Capital Acquires James River Cardiology

RC Capital Acquires James River Cardiology

by | May 31, 2023 1:34 pm | Physician Medical Groups, Private Equity

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... Read More »
Hospitals Partnering with Private Equity: A Strategic Realignment

TA Associates Announces Strategic Growth Investment in Alpha II

by | May 25, 2023 3:53 pm | eHealth, Private Equity

TA Associates, a Boston-based private equity firm, announced that it has signed a definitive agreement to make a significant growth investment in Alpha II. As part of the transaction, Alpha II’s existing shareholder WestView Capital Partners will reinvest alongside TA Associates to maintain a minority position in the company. Alpha II is a provider of revenue cycle management (RCM) technology solutions to healthcare providers across the care continuum. TA Associates has invested in more than 560 companies around the world and raised more than $48.6 billion in capital since its founding in 1968. It leads buyouts and minority recapitalizations in the technology, financial services,... Read More »