Varsity Healthcare Partners Completes Recapitalization and Growth Capital Partnership with Professional Emergency Medicine Management (PEMM) and Professional Emergency Physicians Associates (PEPA)
Sep. 13, 2018
NEW YORK--(BUSINESS WIRE)--Sep 13, 2018--Varsity Healthcare Partners (“VHP”), a leading lower middle-market private equity firm focused on healthcare services, announced today the completion of a joint recapitalization transaction and growth capital partnership with the shareholders of Professional Emergency Medicine Management (“PEMM”) and Professional Emergency Physicians Associates (“PEPA”), both leading providers of emergency medicine and emergency department management services to hospitals across Louisiana. The combined-platform company, to be known commercially as Emergency Care Partners (“ECP” or “the Company”), will pursue accelerated growth through selected acquisitions and organic new contract wins relating to the provision of emergency care services.
ECP’s client base is primarily hospitals with emergency departments servicing annual emergency patient visits of 50,000 or less, and its footprint is in secondary and tertiary markets across Louisiana and other targeted states. ECP’s growth will leverage PEMM’s and PEPA’s clinical reputation and managerial infrastructure, in addition to maintaining a unique approach of utilizing local physician equity partnerships to align incentives in coordination with PEMM’s and PEPA’s innovative customer analytics platform that measures and validates local service quality and departmental efficiency.
VHP is partnering in this transaction with the current management and recognized clinical leadership of both PEMM and PEPA, along with executive talent that is to be recruited to the Company, all of whom will ensure sustained operational and clinical excellence at a local level on behalf of ECP’s hospital customers. Management and clinical leaders of the former PEMM and PEPA will also continue to be meaningful equity owners in the combined and recapitalized company, ECP.
About Professional Emergency Medicine Management (PEMM) and Professional Emergency Physicians Associates (PEPA)
Headquartered in Lafayette, Louisiana, PEMM and PEPA, respectively, are leading providers of emergency medicine and emergency department management services, primarily to small and medium-sized hospitals across Louisiana. Their clinical operations currently include 11 customer hospitals, supported by 160 emergency medicine physicians and 150 advanced practice providers that, in aggregate, care for more than 350,000 patients annually. PEMM’s and PEPA’s proprietary customer analytics platform, which seamlessly interfaces with each hospital’s IT platform to capture critical service quality and departmental efficiency metrics, validates and ensures local service quality and a consistent patient experience within each customer’s emergency department. In addition, PEMM’s and PEPA’s unique local equity partnerships with emergency physician leaders align local economic incentives and quality standards, helping to bring together the clinical leaders and the hospital customer sites they manage.
About Varsity Healthcare Partners
Varsity Healthcare Partners (VHP) is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP has been successful in developing and executing a tailored value-creation plan, in partnership with the leadership of each company, that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. VHP draws upon its extensive healthcare industry experience and relationships, as well as its hands-on partnership approach, to effectively drive growth and maximize value. For more information please visit: www.varsityhealthcarepartners.com.
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CONTACT: Prosek Partners
Mickey Mandelbaum / Nick Rust, 212-279-3115
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA NEW YORK
INDUSTRY KEYWORD: HEALTH HOSPITALS SMALL BUSINESS PROFESSIONAL SERVICES ACCOUNTING BANKING FINANCE HUMAN RESOURCES LEGAL OTHER PROFESSIONAL SERVICES GENERAL HEALTH
SOURCE: Varsity Healthcare Partners
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PUB: 09/13/2018 11:05 AM/DISC: 09/13/2018 11:05 AM