Investment firm signs fifth healthcare acquisition deal as it buys New York-based Health Plus Management
Bahrain-based Investcorp has announced its acquisition of a US provider of business management and operations services for independent physician practices in the physical medicine and rehabilitation market.
The terms of the transaction for Health Plus Management were not disclosed.
Health Plus represents Investcorp’s fifth healthcare deal.
Based in Long Island, New York, Health Plus provides physician-owned practices with an administrative solution for outsourcing non-medical, front and back office operations.
Services include site selection and buildout, front and back office management, marketing, human resources support, technology and reporting.
Health Plus supports physicians across all phases of growth – from start-up and launch of new sites to practice expansion and improvement of efficiencies within well-established practices.
Hazem Ben Gacem, co-CEO of Investcorp, said: “The acquisition of Health Plus is in line with Investcorp’s strategy of investing in successful founder-run businesses and in companies that are experts in their industry. Health Plus has a proven track record of helping physicians establish their own practices and we are excited to work alongside Stuart Blumberg, the CEO and founder, as the company garners momentum to excel in its next stage of growth.”
Health Plus was founded in 1994 by its current CEO, Stuart Blumberg, who remains a shareholder and will continue to lead the company in this next phase of growth.
“We’re thrilled to be partnering with Investcorp, a firm we feel is fully aligned with our growth strategy and truly understands the markets we serve,” said Blumberg. “Our goal has always been to help our clients achieve full clinical autonomy, reduce the administrative burden and allow them to focus on patient care as they build practices positioned for long-term success. We believe Investcorp’s expertise and experience will help us to achieve just this.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.