LEE EQUITY, INTEGRATED MEDICAL PROFESSIONALS AND THE UROLOGY GROUP FORM SOLARIS HEALTH
Transaction creates one of the nation’s largest independent urological services providers
NEW YORK, NY - June 16, 2020 - Private equity firm Lee Equity Partners announced today that New York-based Integrated Medical Professionals (IMP) and Cincinnati-based The Urology Group (TUG) have partnered to form Solaris Health, a management services organization. This unprecedented combination creates one of the nation’s largest independent providers of urological and other specialty services. Terms have not been disclosed.
Solaris Health has been established to support growth in IMP and TUG, two industry-leading practices with strong patient satisfaction scores, and to pursue additional partnerships. The partnership aligns the skills and talents of 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. The vision for Solaris Health is to build a national platform that attracts leading independent urological partners who are committed to providing quality and value in healthcare. Together, the physicians at Solaris Health can serve as an innovative disruptor in the field of urology at a scale which can transform urology care in America.
“This transaction is a game-changer in the field of urology,” said Eric Mason, MD, MBA, newly appointed Solaris Health CEO. “It provides independent physicians access to market leading resources and technology and empowers them to set new standards in providing high quality, cost-effective patient care.”
The two urology practices come with strong leadership, top quality physicians and premier business infrastructures to help increase membership of Solaris Health. Deepak A. Kapoor, M.D., who is IMP Chairman and CEO, will serve as Chairman and Chief Ecosystem Officer of Solaris Health, and as Market President in the New York area. Gary Kirsh, M.D., who is president of TUG, will serve as President of Solaris Health and as Market President in the Greater Cincinnati market. Both Dr. Kapoor and Dr. Kirsh will join the Board of Solaris Health in these capacities and are excited to be involved in actively promoting the vision of a transformative national urology enterprise.
Providers in both groups are active in clinical and academic research, participate in postgraduate medical education, and lecture nationally and internationally on cutting edge breakthroughs in medicine.
“We are excited to partner with the talented teams at IMP and TUG. They are both nationally recognized for their healthcare expertise,” said Lee Equity Partner Mark Gormley. “Lee Equity brings institutional capital to invest in this new national platform, and in the local markets served by IMP and TUG.”
“This new partnership presents an opportunity for doctors who are national thought leaders to work collaboratively, taking advantage of complementary skills to redefine best practices in healthcare across the country,” said Dr. Kapoor.
“Through this partnership we are elevating quality of care to the public,” said Dr. Kirsh. “At The Urology Group, we are excited to collaborate with other free-standing urology providers that share our vision for providing the highest quality care while also delivering on healthcare value for the public.”
Cross Keys Capital was advisor to IMP and Provident Healthcare Partners was advisor to TUG.
Learn more at www.solarishealthpartners.com
About Integrated Medical Professionals
Integrated Medical Professionals (IMP), a clinical affiliate of The Icahn School of Medicine at Mount Sinai, is a pre-eminent urology-centric multi-specialty practice in the United States. IMP is comprised of over 100 physician and advanced practice providers who see patients in neighborhood offices and who are also on staff at the leading hospitals in the New York Metropolitan Area. Visit www.imppllc.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. 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. Visit www.LeeEquity.com.