The Urology Group (“TUG”), a nationally recognized Cincinnati-based provider of urological services with 37 physicians and 14 locations, has partnered with Lee Equity Partners and Integrated Medical Professionals (“IMP”) to form Solaris Health, a management services organization. The partnership creates one of the largest independent providers of urological services in the nation, with over 150 providers who have upwards of 525,000 patient encounters a year at more than 60 sites in New York, Ohio, Kentucky, and Indiana. Provident Healthcare Partners (“Provident”) served as exclusive financial advisor to The Urology Group. Katten Muchin Rosenman served as legal counsel to The Urology Group. The terms of the transaction were not disclosed.
“We could not have been happier with our representation by the Provident team. Our transaction process, like many, went through several twists and turns, and ups and downs. Through thick and thin, Provident was with us every step of the way, ensuring a successful outcome for our company and its shareholders. For any founder-led organization looking to scale, I recommend Provident without any reservations, and with great enthusiasm,” commented Gary Kirsh, President of TUG, who will now serve as President of Solaris Health.
“Provident is a first class ‘gold standard’ firm with sophistication and dedication to help and support its clients to achieve their goals. The Provident team is passionate about what they do to help their clients,” stated Earl Walz, CEO of TUG, who will now serve as CEO of the Ohio Market for Solaris Health.
“The Urology Group has long been known as a premier network of urologists in the United States, serving patients in the community for over 20 years. We are proud to have helped bring to fruition a vision of building the leading independent provider of comprehensive urological care in combination with their colleagues at IMP. Provident believes that in partnership with Lee Equity, Solaris will have tremendous success in growing and partnering with other leading independent providers across the country,” noted Kevin Palamara, Managing Director at Provident.
Learn more at www.solarishealthpartners.com.
About The Urology Group
The Urology Group is a leading independent group of urologists and other specialists in the United States, with 37 physicians on staff. Headquartered in Cincinnati, Ohio, the group provides subspecialized care for all diseases of the urinary tract in men and women. The Urology Group’s physicians serve patients at most of the region’s hospitals, and at the group’s centrally located 55,000-square foot urology-dedicated advanced care facility. The group operates offices extending from Northern Kentucky to Middletown, Ohio, and from Southeastern Indiana to Adams County, Ohio. For more information, visit www.UrologyGroup.com.
About Lee Equity Partners
Lee Equity is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $100 million in middle market control buyouts and growth capital financings in companies with enterprise values of $100 million to $300 million which are located primarily in the United States. The firm invests in a range of industries where the team has deep relationships developed over decades, including business services, financial services, and healthcare services. Lee Equity has $2.4 billion in assets under management and has invested in more than 80 lower middle market companies and add-on acquisitions. For more information, visit www.LeeEquity.com.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including the urology specialty. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a number of buyers such as private equity firms and strategic consolidators. For more information, visit www.providenthp.com.
Contact: Provident Healthcare Partners
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