HealthCare Partners

Integrated healthcare services delivery system
Invested in
2005
Status

Merged with DaVita 2012

Location
Torrance, CA
Sector
Healthcare & Life Sciences
Sector
Healthcare & Life Sciences
Website

"Summit brought much more than capital to our relationship. They know our industry, have access to great resources and helped tremendously during a period of rapid growth and expansion. They were very much a partner in our success."

Dr. Robert Margolis
Founder and CEO
|
HealthCare Partners
6x

EBITDA growth during Summit’s investment

765,000

Patients served at the time of Summit’s exit

$4.4B

Merged with DaVita in 2012, in one of the largest healthcare services transactions in history

6x

EBITDA growth during Summit’s investment

765,000

Patients served at the time of Summit’s exit

$4.4B

Merged with DaVita in 2012, in one of the largest healthcare services transactions in history

Founded and led by Dr. Robert Margolis, HealthCare Partners (HCP) is a leading integrated healthcare delivery system and is a role model for integrated and coordinated care, leading the transformation of the national healthcare delivery system to assure quality, access and affordable care for all. Although HCP was profitable, growing well and had a strong balance sheet, its physician owners sought an experienced healthcare investor to help them plan and execute a growth strategy.

How Summit Partners Helped

  • Provided equity and helped raise institutional debt, assisting with the selection of an investment banker, rating agency process and marketing to investors
  • Worked with management on strategic growth initiatives, including a focus on acquisitions in additional geographic regions
  • Sourced several attractive acquisition opportunities, including two that closed and expanded HCP into three more states: JSA Medical Group, which added Florida and Nevada, and brought substantial value to HCP in subsequent years; and Arizona Integrated Physicians, which added Arizona
  • Assisted in initiating and developing a formal corporate development team to pursue a pipeline of acquisition targets
  • Served as an active advisor to the CEO and management team throughout the investment, including assisting in the evaluation of strategic exit opportunities

In 2012, DaVita and HCP completed a merger to acquire HCP for approximately $4.4 billion plus other incentive consideration, forming DaVita HealthCare Partners. HCP’s senior management team has continued to manage HCP as a subsidiary of the merged business.

The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since HealthCare Partners is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is an investor in a Summit fund and may have conflicts arising from his past role with HealthCare Partners due to the company’s relationship with Summit.

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