Physicians Dialysis Acquires Seven Dialysis Facilities in New Jersey and Texas
May 04 2017 - 9:00AM
Physicians Dialysis today announced that it has closed on the
acquisition of seven dialysis facilities located in New Jersey and
Texas from DaVita Inc. (NYSE:DVA). Based in Miami, Florida,
Physicians Dialysis has been operating, developing and acquiring
clinic and home-based dialysis programs for nearly thirty
years. It now has fifteen locations across eight states.
“This acquisition is operationally and geographically in keeping
with our strategic growth plan and furthers our mission of
providing world-class and innovative dialysis care,” said Dr. Allan
Jacob, Chairman and Founder of Physicians Dialysis. “We welcome our
new patients, physician partners, Medical Directors and employees
to the Physicians Dialysis family.”
The seven acquired dialysis facilities were divested by DaVita
in connection with its acquisition of Renal Ventures Management,
LLC and the U.S. Federal Trade Commission’s (“FTC”) approval
of that transaction.
“Over the past several years, Physicians Dialysis has expanded
into new markets. This acquisition presents a unique opportunity
for Physicians Dialysis to enter both the New Jersey and Texas
markets with a network of ‘best-in-class’ facilities,’” said Daniel
Jacob, President of Physicians Dialysis. “We have retained all of
the dedicated clinical employees and established a regional
corporate office in New Jersey to support the acquired facilities
and further our continued growth across the country. This
acquisition broadens our footprint and will allow us to further
develop relationships with new and existing physician
partners.”
GMF Capital LLC provided capital alongside Physicians Dialysis
to facilitate this acquisition and operational support to
accelerate its growth and continued expansion. “As a physician-led
company, Physicians Dialysis genuinely understands the needs of its
patients,” said Dan O’Keefe, Managing Director at GMF Capital. “We
are delighted to partner with the Company’s talented management
team to grow the company and allow it to enhance treatment
solutions for the increasing number of patients suffering from
end-stage renal disease.”
In addition to Physicians Dialysis’ core dialysis clinic
business, the company is the largest provider of staff assisted
home hemodialysis in Florida as well as alternate site dialysis
services for nursing homes, rehab hospitals and federal and state
correctional facilities.
“As pioneers in the staff assisted home hemodialysis market, we
believe there is a strong demand for this modality in the New
Jersey and Texas markets and we expect in the near term to offer
this treatment option to our patients,” said Steven Jeger, Vice
President of Business Development at Physicians Dialysis.
About Physicians Dialysis
Physicians Dialysis is a Florida-based healthcare provider
focused on the dialysis industry. Through its affiliated entities,
the company owns and operates dialysis facilities on the east coast
and southern United States. The company was founded by Allan Jacob,
MD, a Board Certified nephrologist, who remains active in its
leadership. Dr. Jacob started his dialysis career in 1983 by
opening his first center in North Miami Beach, FL. In 1990 Dr.
Jacob founded Orion Medical Enterprises, now known as Physicians
Dialysis. The company initially focused on providing in-center and
home dialysis to the South Florida market and has since grown into
a highly diverse independent Florida-based dialysis provider.
Physicians Dialysis also owns and operates a pharmacy licensed in
eight states, a clinical research division focusing on
advancements in nephrology care and dialysis treatment and two
licensed and accredited Durable Medical Equipment (DME)
companies.
About GMF Capital LLC
GMF Capital LLC is a private, alternative investment firm
founded in Zurich in 2013. It opened offices in New York in
2015 and has since expanded to other U.S. cities. GMF’s
growth-oriented investment platforms span several asset classes,
including real estate, healthcare and private equity. GMF
leverages its extensive institutional and private experience and
draws upon a deep and diversified network of operators and capital
partners to build unique and varied investment products.
Contact: Meieli Sawyer
The Weinbach Group, Inc.
(305) 668-0070
msawyer@weinbachgroup.com
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