Downers Grove, Ill.-based DuPage Medical Group has a new investment partner — Ares Management Private Equity Group.
Here are five things to know.
1. DMG is among the largest U.S. independent, multispecialty physician groups.
2. Under the strategic partnership, DMG's practice management company, DMG Practice Management Solutions, and its subsidiary Boncura Health Solutions will continue to be directed and governed by physicians, DMG said. BHS and DMG Practice Management Solutions will also be partially owned by the physicians.
3. DMG CEO Mike Kasper said the transaction will lead to additional service lines, care sites and physicians, as well as an enhanced integrated outpatient delivery model.
4. The $1.45 billion transaction, which closed Tuesday, also includes Ares' acquisition of Summit Partners' stake in DMG Practice Management Solutions, DMG said. Summit will no longer be an investment partner.
5. Commenting on the transaction, Mr. Kasper said, "As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led. Ares understands and supports our core mission, which is to maintain and enrich our patient-focused, doctor-directed culture. This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG's growth initiatives, such as population health, expansion into new geographies and additional service offerings. We believe this endeavor will ultimately enhance our ability to reach and treat patients. This is our path forward."
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