Emergency Care Partners (“ECP”), a leading regional provider of emergency medicine and outsourced emergency department management services to hospital facilities across Louisiana, New York, and Pennsylvania, today announced the completion of a strategic merger with Illinois Emergency Medicine Specialists (“IEMS”), a Chicago-based provider of outsourced emergency department management services in Illinois.
Bill Yarbrough, CEO of Emergency Care Partners stated, “We are very excited to welcome IEMS as a member group of ECP. Their long history together as physician partners and the strength of their local health system relationships makes them an ideal addition to our national group.”
The combined emergency medicine platform will service departmental operations at 26 hospitals, supported by a combined clinical workforce of 600 physicians and mid-level providers, treating approximately 900,000 ER patient visits annually. IEMS’s physician partners will join as ECP shareholders and Ted Patras, M.D. will continue to serve as President of IEMS.
Dr. Patras commented, “We are excited about joining the ECP team. This new partnership allows us to bring enhanced efficiencies and deliver the best quality outcomes and patient experiences for the entire health system.”
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In terms of strategy, the combined business will continue its service-intensive approach to managing small- and medium-sized emergency departments, leveraging ECP’s unique business model that combines local physician equity partnerships and its differentiated technology platform to ensure local service accountability and care quality at each ECP facility served. Further, ECP’s physicians, including legacy physician partners, continue to serve as meaningful shareholders in the combined company.
ECP is backed by Varsity Healthcare Partners (“VHP”), a lower middle-market healthcare services private equity investment firm with expertise in growing care provider platforms, along with Regal Healthcare Capital Partners, a New York-based healthcare services growth equity and buyout firm.
Sheppard, Mullin, Richter & Hampton LLP acted as legal adviser to ECP and VHP, while Nexus Health Capital and Katten Muchin Rosenman LLP acted as financial and legal advisors to IEMS.
Date: September 23, 2019
Source: Business Wire
