Today, The Bloom Organization (“Bloom”) announced the closing of a partnership between its client, Premier Urology Group (“PUG”), New Jersey Urology (“NJU”) and Urology Management Associates (“UMA”).
PUG is one of the oldest, most well-respected independent urology groups in New Jersey. Lead by its senior partners, Drs. Ben Fand, Kenneth Ring, Mark Miller, and Williams Terens, PUG engaged The Bloom Organization to explore market opportunities to continue to grow and scale their business. After careful consideration of the ever-changing healthcare landscape, the PUG partners decided the partnership with NJU was a tremendous opportunity to remain an independent practice while continuing world-class patient care.
The NJU-Premier partnership is further evidence of a consolidation trend for physician practices. Brian Liberty, Senior Vice President at The Bloom Organization, said, “We see many physician groups realizing that scale is needed to make a meaningful impact on lowering the cost of care all while improving quality. Creating a cutting edge care delivery model requires significant investments in EMR, ancillary services, people, and clinical pathways. Those investments are just too expensive for smaller groups to make on their own. Thus, we see private equity groups investing in quality physicians and putting infrastructure behind them.”
Like most all private equity backed transactions, PUG came together with UMA and NJU through a division of its business into a Management Services Organization (“MSO”) and a clinical practice (“Practice”). The MSO is the entity that provides the administrative support necessary to run the Practice.
With the closing of the PUG transaction, Bloom continues to build expertise in physician specialty groups, including urology, orthopedics, gastroenterology (“GI”), ophthalmology, pain management, optometry and others. In addition to working with physician practices across the United States, Bloom remains the country’s leading advisor for ambulatory surgery center (“ASC”) transactions.
About New Jersey Urology:
Formed through the merger of New Jersey Urology, LLC and Delaware Valley Urology, LLC in April 2018, NJU is one of the largest urology practices in the United States. The practice provides complete urologic care and comprehensive individualized treatment at more than 50 convenient locations, including five state-of-the-art Cancer Treatment Centers. Utilizing the latest technology and techniques in the industry, NJU offers advanced urologic care with a personal touch. Learn more at www.njurology.com.
About Urology Management Associates:
Urology Management Associates was formed in August 2018 to provide administrative services to New Jersey Urology. The establishment of UMA enables NJU to continue to focus on providing world-class urology services while remaining a physician-led organization. UMA plans to partner with additional urology groups to provide administrative practice management services initially in the greater New York metropolitan area with long-term plans to expand nationally.
About The Bloom Organization:
Bloom has been advising physicians on transactions since 1990. Founded and lead by Mr. Henry Bloom, the Company is based in Aventura, FL and serves clients nationwide. Bloom’s investment banking expertise is in the healthcare services sector. Learn more at www.bloomllc.com