Salt Lake City, April 13, 2023–(BUSINESS WIRE)–Enhanced Healthcare Partners (“EHP”), a leading private equity firm specializing in transformative, mid-market healthcare businesses, is pleased to announce that its portfolio company, Vitalize Health, has acquired a controlling stake in Physicians. Led by the Independent Physicians Association of New York (“IPA NY”), following a recent $100 million equity and debt capital raise led by EHP. Headquartered in Suffolk County, IPA NY is one of the largest multi-specialty IPAs in the country with over 3,000 providers.
Vytalize is a leading value-based care platform created to help independent physicians and practices improve patient care and lower costs through evidence-based, data-driven medicine. Building on the existing foundation of a long-term partnership between the two organizations, Vytalize has acquired a controlling interest in IPA NY’s management company, Practice Management of America (“PMA”), which provides clinical care management, care coordination and administrative services. 1,000 locations.
EHP made its initial investment in Vytalize in March 2022.
“In one year of our partnership, Vytalize has seen exceptional growth in its care delivery infrastructure and geographic presence,” commented Samarth Chandra, EHP General Partner. “EHP recognizes that the additional capital and strategic M&A will drive Vytalize’s momentum and drive sustainable relationships for its care delivery network – ultimately improving the healthcare experience and empowering patients with their health outcomes.”
The addition of IPA NY to the Vytalize platform aligns with the company’s mission to strengthen value-based primary care practices and transform the healthcare experience.
Both Vytalize and IPA NY have a strong market presence within the tri-state area and share a commitment to supporting independent physicians and patients,” said Vytalize Co-Founder and CEO Faris Ghawi. “IPA NY’s provider base will allow Vytalize to grow its core business and commercialize and provides a great opportunity to expand on Medicare Advantage.”
EHP led Vytalize’s $100 million financing round with debt capital backing from Monroe Capital.
About Sophisticated Healthcare Partners
Enhanced Healthcare Partners is a leading healthcare-focused private equity firm dedicated to making minority and majority investments in founder and entrepreneur-led middle-market companies. The EHP team manages approximately $1 billion in equity capital and is comprised of professionals with deep healthcare, operations, consulting and investment management experience. The firm seeks to invest in companies between $50-$250 million in venture value, fostering the development of deep partnerships with management and founders and building outstanding organizations. For more information, visit www.enhancedhealthcare.com.
About VYTALIZE Health
Vytalize Health is a risk-bearing provider enablement platform that addresses the healthcare industry’s biggest challenges with its cutting-edge value-based care delivery system. Vytalize partners with more than 3,000 leading providers to improve the quality of care through evidence-based medicine and a patient experience rooted in compassion. By delivering the right data at the right time to clinicians and their staff in the workflow, Vytalize makes its partners more efficient and effective, allowing them to focus on proactive, personalized medicine to improve the value of care and lower costs. Learn more at www.vytalizehealth.com.
About Monroe Capital
Monroe Capital LLC is a leading boutique asset management firm specializing in the private credit markets across a variety of strategies, including direct lending, asset-based lending, specialty finance, opportunistic and structured credit, and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the US and Canada. Monroe prides itself on being a value-added and user-friendly partner for business owners, management, and both private equity and independent sponsors. Monro’s platform offers a wide variety of investment products for both institutional and high net worth investors focused on generating high quality “alpha” returns regardless of business or economic cycles.
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