NATIONAL UROLOGY MEDICAL GROUP FORMED WITH PRIVATE EQUITY
NATIONAL UROLOGY MEDICAL GROUP FORMED WITH PRIVATE EQUITY
… Solaris Health is a national leader in urology medicine …

NATIONAL UROLOGY MEDICAL MANAGEMENT GROUP FORMED WITH PRIVATE EQUITY

A combination of two medical groups with robust plans for additional growth

John G. Baresky

Two medical groups largely focused in urology and associated patient care have joined together with the support of private equity and formed a medical management services firm. Solaris Health is a new healthcare organization launched through combining The Urology Group (TUG) based in Norwood, Ohio (a Cincinnati suburb) and Integrated Medical Professionals (IMP) headquartered in Farmingdale, Michigan. Lee Equity Partners is the private equity firm that engineered the deal.

Two well-established urology-centric practices with multiple locations

TUG began as a collaboration between physicians in 1994 that formed The Urology Group in 1996. TUG has Joint Commission (JCAHO) Gold Seal, Utilization Review Accreditation Commission (URAC), American College of Radiology (ACR) and College of American Pathologists (CAP) accreditations.

Solaris Health has multiple patient care attributes

  • Indiana
  • Kentucky
  • New York
  • Ohio

The focus on the present and future advancement of care aligned with urology will continue. Some of the treatments and services Solaris will offer include:

  • Benign prostatic hyperplasia (BPH)
  • Biomarker studies
  • Clinical trials enrollment and participation
  • Fertility issues
  • Oncology (prostate cancer clinics, radiation therapy, surgery)
  • Penile prosthetics
  • Urinary incontinence
  • Urinary tract infection (UTI)
  • Vasectomy

Consolidation and upscaling of medical groups across the United States is an ongoing trend

  • Increased operating costs
  • Sourcing and retaining medical professionals
  • Rising competition from other large medical groups or those operated by hospitals and health systems
  • Financing diagnostic, surgical and other medical equipment
  • Additional government regulations with more complexity
  • Reduced reimbursement from managed care organizations (MCOs) and government payers like Medicaid and Medicare

Through the formation of Solaris and by onboarding additional urology practices, it can continue to grow and reduce the burdens represented by these issues.

COVID-19’s impact on healthcare private equity and commercial trends

Conversely, COVID-19’s impact will also increase the demand for private equity resources in healthcare moving forward. Changes in patient care and the need to catch up with growth plans will foster interest in private equity as the right option to move past the clinical and cost quicksand of COVID-19.

Healthcare private equity can be a pivotal difference-maker in for physician groups and other healthcare provider organizations

Hospitals and health systems have been acquired by private equity firms but the scope and complexity of running them can be daunting even for the savviest private equity ventures. They require very large sums of financial and staff resources at the onset then typically require more to stay competitive.

Medical group practices like TUG, IMP and Solaris Health are much easier for them to profitably engage with. It also helps when they are centered in a specific medical specialty like urology. There are roughly 12,500 urologists in the United States and by bringing clusters of them into a single organization economies of scale are brought to bear plus significant reimbursement leverage against payers is created.

Lee Equity Partners is a mid-sized private equity contender

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