Transaction Represents the Sixth Acquisition
Since Partnering with Ascend and CareAbout Health, and first
practice in Palm Beach Gardens to
become part of MSPB's expanding network
NEW YORK, June 17, 2024 /PRNewswire/ -- Medical Specialists
of the Palm Beaches (MSPB), a leading primary care-focused,
multi-specialty physician group practice in South Florida, today announced the acquisition
of Family Medical Center, a physician practice based in
Palm Beach Gardens, FL. This is
MSPB's first acquisition in Palm Beach
Gardens and its sixth acquisition since a major investment
and other support provided by Ascend Partners and CareAbout
Health.
"On behalf of the entire MSPB family, we are delighted to
welcome Dr. Fahmy, Kara Jolley,
Heidi Holland, and their team and we
look forward to working closely with Family Medical Center," said
Casey Waters, CEO of Medical
Specialists of the Palm Beaches (MSPB). "The acquisition of Family
Medical Center is an important one for us, as it speaks to MSPB's
overall vision of becoming the premier healthcare delivery system
in South Florida, offering our
patients access to the top providers who provide the highest
standard of care in our community."
"We are excited to be part of the MSPB network because it will
enable us to continue to provide the highest levels of care for our
patients, with a continued emphasis on not only treating patients'
existing conditions, but we also working with patients to maximize
prevention strategies," said Amir
Fahmy, MD, President, Family Medical Center. "In addition,
we look forward to leveraging MSPB's experience in growing and
managing physician practices like ours with their value-based care
capabilities."
MSPB provides its practices with a strong foundation to deliver
on the quadruple aim of value-based care: to improve outcomes, care
and patient experience, increase provider satisfaction, while
lowering medical costs.
About Medical Specialists of the Palm Beaches
(MSPB)
MSPB, founded in 1995, is a primary care-focused,
multi-specialty physician group practice, serving South
Florida. MSPB is a value-based care focused, integrated healthcare
delivery system, committed to providing comprehensive, high-quality
care, with respect and integrity for our patients and the
community. MSPB now has more than 125 Providers, spread across 37+
offices in Palm Beach and Broward counties and
offers primary care, cardiology, interventional cardiology,
neurology, hematology & oncology, gastroenterology, colorectal
surgery, concierge medicine and laboratory services. For more
information, please visit: mspbhealth.com.
About Ascend Partners
Ascend Partners is a
growth-oriented, healthcare-focused private equity partnership
whose mission is to build thriving communities by investing in
companies and entrepreneurs who are improving healthcare access,
affordability, and quality for vulnerable and underserved
populations. Founded in 2019, Ascend is led by co-founders In Seon
Hwang, former global head of Healthcare at Warburg Pincus and
member of the Executive Management Group, and Dr. Richard
Park, founder and former CEO of CityMD, a leading patient-centric
healthcare services company in New York and New Jersey.
For more information, please
visit www.ascendpartners.com.
About CareAbout Health
CareAbout Health provides
management, resources, value-add services, technology, and other
support to its portfolio of medical groups and healthcare focused
companies. CareAbout Health is helping align incentives to create a
world where patients, providers, and payers work together in a
seamless, coordinated manner toward common goals: higher quality,
lower costs, better outcomes, and healthier communities. For more
information, please visit www.careabout.com.
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SOURCE CareAbout Health