With nine transactions announced, the Physician Medical Group sector posted the highest deal volume of any health care services sector. In seven deals, the buyer was a hospital or hospital system; in the remaining two, a hospitalist PPM.
In the largest deal, as measured by the number of physicians “acquired,” Dallas-based Eagle Hospital Physicians, a hospitalist PPM, is acquiring Inpatient Management, another hospitalist management company based in St. Louis. The target manages 13 practices with over 90 hospitalists in California, Iowa, Indiana, Kansas, Louisiana, Michigan, Missouri, North Carolina, Nebraska and Washington. This acquisition, the company’s second sizeable one in two months, expands Eagle’s geographic presence to 17 states, the number of physicians it manages to 350 and the number of client hospitals it serves to 44. Atlanta-based Brookwood Associates advised Inpatient Management on the current transaction.
Sound Physicians, another privately held hospitalist PPM, based in Tacoma, Washington, acquired Bay Area Inpatient Group, a physician group practice based in Fairfield, California, and specializing in providing hospitalist services. This acquisition adds to the buyer’s existing network of 12 hospitalists in the Bay Area.
Hospital operator Tenet Healthcare Corp. (NYSE: THC) is acquiring CardioVascular Associates, a physician group based in Birmingham, Alabama, and specializing in cardiology. The practice’s 30 physicians and 195 employees provide services from 10 locations throughout the state. Brookwood Medical Center, a subsidiary of THC, and CardioVascular Associates are teaming up to form CardioVascular Associates of the Southeast.
White Plains Hospital Center, a 292-bed acute care facility in White Plains, New York, is acquiring White Plains Surgical Specialists, fka Weber, Weber and Yee, a a nine-physician group practice focused on surgery. The target practice is to become the first member of White Plains Hospital Physician Associates (WPHPA), a newly formed division of the hospital, developed with the intent of aligning local practicing physicians with the hospital…Want to read more? Click here for a free trial to The Health Care M&A Monthly and download the current issue today