CHICAGO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Physician Growth Partners (“PGP”) is pleased to have advised Pediatric Affiliates PA (“PediAff”), a large, New Jersey-based pediatric network, in its partnership with Webster Equity Partners (“Webster”), one of the leading healthcare-focused private equity firms in the country. The partnership will enable PediAff to expand its differentiated, outcome driven approach to pediatric care across the Northeast and beyond.
Led by CEO Dr. Ira Haimowitz and CMO Dr. Robert Shanik, PediAff serves as one of New Jersey’s largest pediatric groups, operating in six locations across New Jersey with a focus on underserved patient populations. Their market leading clinical outcomes and unmatched patient accessibility has resulted in a truly differentiated practice providing access to the highest quality of care. This, combined with their focus on underserved populations, has enabled them to bend the cost curve and greatly impact healthcare in New Jersey. The partnership with Webster will allow PediAff to expand the model they have built – which they believe can transform pediatric healthcare delivery and outcomes everywhere. Additionally, PAffiliates recently enhanced their practice offering with behavioral health services, another transformational initiative the Webster partnership will accelerate.
Physician Growth Partners served as the exclusive transaction advisor to Pediatric Affiliates in its evaluation, negotiation, and execution of this transaction.
Dr. Haimowitz said, “The process of selling one's medical practice can be an extremely daunting one. Having Michael Kroin, Jeremy Murphy, and the entire Physician Growth Partners team guiding us through every step of the way was truly invaluable. They came to fully understand the merits of our practice and what separated us from other pediatric groups, articulating it in a way that resonated with potential partners. Their knowledge helped steer us in the right direction as we ultimately found the right partner for our next chapter. Their tireless efforts and commitment from start to finish will always be remembered - we could not have done this without them.”
PGP Vice President Jeremy Murphy commented, “Pediatric Affiliates is one of the most exciting platforms we’ve had the opportunity to advise through a transaction process. Dr. Haimowitz and Dr. Shanik’s mission has been, and always will be, providing the most accessible, highest quality care to the families they serve. Their pursuit of that mission and their passion in accomplishing it led to the creation of a model we feel can truly transform pediatric healthcare delivery and quality across the country. Webster is the perfect partner to make that a reality. We cannot wait to see what this partnership accomplishes.”
PGP CEO Michael Kroin, added, “This was an extremely exciting process with an even more exciting outcome. Pediatric Affiliates has built something special, but they were at a key inflection point in their trajectory that required a partner with capital and operational resources to realize its full potential. Webster couldn’t be a better fit in helping them do just that. We’re excited to see their reach extend well beyond the state of New Jersey and the impact they will make in the pediatric healthcare space.”
About Physician Growth Partners
Physician Growth Partners is one of the most active national healthcare transaction advisory firms dedicated to representing physician platforms in transactions with private equity. PGP creates value by providing operational support, strategic positioning, and transaction advisory, delivering an optimal outcome for its clients.
