GREENVILLE, SC and BOSTON, MA--(Marketwire - May 11, 2010) - Growth equity investor Summit Partners today announced a minority investment in OB Hospitalist Group, Inc., the leading provider of comprehensive Ob/Gyn hospitalist services to hospitals across the United States. OB Hospitalist Group will use the funding to enhance the level of service it provides its customers, and to further develop its infrastructure and depth of management support.
Founded in 2006, OB Hospitalist Group has established a national network of more than 600 board-certified physicians who form dedicated teams that provide hospitals with 24/7 in-house Ob/Gyn coverage. OB Hospitalist Group's unique care delivery model ensures that every pregnant patient who presents emergently is evaluated by a physician prior to discharge from the hospital. The program results in better patient care, reduced liability exposure for partner hospitals, and significantly enhanced professional and personal satisfaction for community physicians.
"The most striking weakness in the majority of obstetric care facilities throughout the nation is the discrepancy in the delivery of emergency services," said Chris Swain, M.D., FACOG, Founder and President of OB Hospitalist Group. "Rather than focusing narrowly on the labor process, we specialize in helping hospitals build sound, financially viable programs that address the full spectrum of women's care." David Swain, Chief Executive Officer of OB Hospitalist Group, added, "Our partnership with Summit Partners will allow us to accelerate plans to bring this level of care to an increasing number of patients and partner hospitals."
"At Summit Partners, we've been making growth equity investments in rapidly growing market-leading healthcare companies for more than 25 years," said Mark deLaar, a Principal with Summit Partners who will join the OB Hospitalist Group Board of Directors. "Today we see a large-scale demand for outsourced services that improve the delivery of hospital-based healthcare -- particularly in the case of emergency obstetric care -- and OB Hospitalist Group is ideally positioned to maintain its market leadership."
"We are impressed with the exceptional care and value OB Hospitalist Group delivers to all constituents -- patients, hospitals and physicians," added Chris Crawford, a Vice President with Summit Partners who will also join the board. "With the support of Summit Partners, OB Hospitalist Group will continue to introduce programs of excellence and expand geographically."
About OB Hospitalist Group
OB Hospitalist Group, Inc. (www.obhospitalistgroup.com) is the leading, physician-founded provider of Ob/Gyn hospitalist programs with a growing network of more than 600 physicians who deliver a new standard of hospital-based emergency Ob/Gyn care. OB Hospitalist Group's comprehensive program goes beyond 24/7 obstetrics coverage to address the full spectrum of women's care, improving patient care and reducing liability exposure for physicians and hospitals. Headquartered in South Carolina, OB Hospitalist Group partners with client hospitals throughout the United States, with current locations in California, Florida, Illinois, Kentucky, New York, North Carolina, Texas, Utah, Virginia and Washington.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity investor that provides private equity and venture capital to rapidly growing companies. Founded in 1984, Summit has raised more than $11 billion in capital and has provided growth equity, recapitalization and management buyout financing to more than 300 growing companies across a range of industries and geographies. Summit Partners seeks outstanding management teams that have built their companies to market leadership. Summit's notable healthcare and life sciences investments include AmeriPath, Anesthetix, American Dental Partners, Aurora Diagnostics, HealthCare Partners, Lincare Holdings, MDVIP and Pediatrix Medical Group.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20-22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.
Contact Information:
Inquiries:
Summit Partners:
Joan Miller
+1-617-824-1047