Edgemont Capital Partners Completes Sale of Decatur Radiology to Envision Healthcare
Acquisition highlights accelerating consolidation in radiology services; Transaction is Edgemont’s fourteenth on behalf of hospital-based physician groups and second in radiology this year
NEW YORK and DECATUR, ILI October 17, 2018 – Edgemont Capital Partners, L.P. has acted as exclusive financial advisor to Decatur Radiology Physicians (“DRP”) in the sale of the company to Envision Healthcare Corp (owned by KKR & Co.) The transaction closed on October 12, 2018 and was led by Jeff Swearingen, Managing Director and Co-founder of Edgemont, and head of the firm’s Physician Services Group, supported by Vitaliy Marchenko, Vice President, and Arya Palakurthi, Associate. Edgemont is the preeminent healthcare-focused middle market investment bank, serving the advisory needs of healthcare providers and entrepreneurs for more than 15 years.
DRP’s sale continues the trend of hospital outsourced clinical services consolidation driven by regulatory pressures, and most recently, the implementation of the Medicare Access and CHIP Reauthorization Act of 2015. It marks the 83rd transaction in radiology since 2008. DRP’s physicians provide comprehensive radiology services for the sole large hospital in Decatur, IL, with over 140,000 reads annually.
“Edgemont was able to tailor the transaction process to our individual needs as a radiology practice and demonstrated incredible M&A expertise,” said Dr. Mark Brumit, President of DRP. “Jeff and his team were available and responsive to us and were ideal advisors for this important milestone.”
Edgemont’s Physician Services Group serves practices across a broad range of hospital and office-based specialties, including radiology, emergency medicine, hospitalist medicine, anesthesiology, dermatology, ophthalmology, gastroenterology, orthopedics, ENT, urology, urgent care, and occupational medicine.
The firm’s role as DRP’s exclusive M&A advisor is its fourteenth closed transaction on behalf of hospital-based physician groups and management companies and second in radiology this year. These transactions have generated approximately $1.5 billion in consideration at closing for Edgemont’s independent group practice clients.
“Our broad and deep transaction experience positions us to understand the needs of both sellers and buyers in this unique marketplace,” said Swearingen. “As a result, we continue to lead the industry in supporting large and mid-sized physician groups in the sales process.”
About Edgemont Capital Partners
Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent healthcare investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services. The firm’s deep healthcare industry knowledge, extensive relationship network, and substantial M&A transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 150 healthcare transactions, representing more than $60 billion in value.
For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.
Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.