Bloom Announces Closing of Multiple Independent Louisiana-based ENT Practice Transactions
- June 3, 2024
- in
The Bloom Organization (“Bloom”), a national investment bank focusing on mergers and acquisitions advisory in the healthcare and business services sectors, today announced that its clients, Hebert Medical Group, Lafayette ENT Specialists, and ENT Associates of Northeast Louisiana, have partnered with Audax Private Equity (“Audax”) portfolio company Elevate ENT Partners (“Elevate”), a multi-state platform providing management resources and capital support to ear, nose, and throat (“ENT”) practices. The deal marks Bloom’s 9th ENT & Allergy transaction since 2021. Bloom continues to be the go-to advisor to ENT & Allergy physicians and physician groups across the United States.
Bloom’s recent ENT & Allergy transactions include:
- Louisiana ENT and Sinus: Based in Baton Rouge with 12 board-certified otolaryngologists and 14 advanced practitioner providers across 6 locations.
- Southern ENT Associates: Comprised of 6 board-certified otolaryngologists and 9 advanced practitioner providers across 6 locations in Thibodaux, Raceland, Houma, Morgan City, New Iberia, and Youngsville.
- ENT Associates of Northeast Louisiana: Based in Monroe with 2 board-certified otolaryngologists and 2 advanced practitioner providers.
- Lafayette ENT Specialists: Comprised of 3 board-certified otolaryngologists and 3 advanced practitioner providers across 6 locations in Lafayette, Lake Charles, and Vidalia.
- Hebert Medical Group: Comprised of 1 board-certified otolaryngologist and 2 advanced practitioner providers across 4 locations in Lafayette, Lake Charles, Jennings and Eunice.
Audax Private Equity is a leading middle-market private equity investor with a history of investments in the physician practice management sector.
“From the very beginning, Elevate stood out as the right organization with which we should partner. They have a strong track record of growth in Texas and Florida and have an impressive plan in place for growth in Louisiana. Furthermore, they share the core values on which our team has built our reputation.” said Dr. Vance Broussard, a partner at Southern ENT Associates. He added, “We were glad we had Bloom on our side throughout this process. Their team has been a crucial resource to us.”
The transactions were led by Brian Liberty and Graham Miller of The Bloom Organization.
Brian Liberty, Managing Director at Bloom, stated “This partnership will ensure independent ENT practice will continue to thrive in Louisiana.” He added, “We at Bloom believe that physician-led practices, with the added support of world-class management and capital, is needed to stay on the cutting edge. These physician-led, patient-first groups are the health care system’s equivalent to small business, and we should celebrate and support them for offering patients an alternative to the high-cost setting of multi-billion-dollar hospital-based healthcare systems.”
When asked about plans for the combined entity post-transaction, Dr. Broussard stated, “I’m most excited to see our continued growth throughout the state. Working alongside some of the best ENT practices in the region will allow our teams to share best practices, grow, and provide best-in-class services to our patients.”
The Bloom Organization has 30+ years of experience working on healthcare services transactions assisting physicians, health systems, home health companies and private equity firms in market consolidation strategies and strategic partnerships. For more information or to discuss potential monetization opportunities, please contact The Bloom Organization at (305) 974-0700 or info@bloomllc.com.