Today The Bloom Organization announced a new partnership (the “Transaction”) between its client, NJ Urology (“NJU”), and JW Childs (“JWC”). NJU and JWC have formed a new entity (the “MSO”) to provide urology practice management services throughout the country. The Transaction represents the single largest private equity transaction in urology practice management in the United States.
Today, NJU has 100 providers spanning from northernmost to southernmost counties in New Jersey. The MSO structure allows NJU to invest heavily in providing world-class urology services with an emphasis on remaining a physician-led and governed organization. The MSO plans to partner with many more leading Urology groups. NJU and The Bloom Organization are engaging with physician leaders from all regions of the country.
The Transaction comes on the heels of a merger between NJU and Delaware Valley Urology (“DVU”) in April 2018. Recognizing the synergies of a larger scale group, The Bloom Organization facilitated discussions between NJU and DVU physician leadership. Within 3 months of signing an intent to merge, NJU and DVU merged operations. The speed and efficacy of the merger is a testament to the strong physician and back office operational leadership.
JW Childs, led by managing partner Mr. Adam Suttin and operating executes Dr. Lewis Gold and Dr. Mitchell Eisenberg, was vetted from a large field of private equity investors interested in partnership with NJU. The Bloom Organization and NJU highlighted JWC for its physician executives having built large scale, successful healthcare organizations and knowledge of “physician-friendly” transaction structures.
DLA Piper served as NJU’s legal counsel, which was led by US Healthcare Sector Chair, Mr. Joshua Kaye. McDermott, Will & Emery served as counsel to JW Childs.