Bloom Advises On Creation Of Country’s Largest Urology Platform
- December 3, 2019
The Bloom Organization (“Bloom”) is pleased to announce that its clients, New Jersey Urology (“NJU”) and Urology Management Associates (“UMA”), have partnered with the physicians of Urology Care Alliance (“UCA”). The partnership creates the largest urology group in the United States, with 155 providers in 60 locations, including six cancer treatment centers.
The transaction is representative of Bloom’s growth and expertise in advising physicians and private equity investors in the physician practice management space. Henry Bloom, President and Founder of The Bloom Organization, said, “Our firm has spent decades working with physicians and we are now leveraging our knowledge and experience to help our clients grow large platforms. Many investors in the health services industry are buzzing about growth and liquidity events, and it’s our job to navigate that path and execute like we have with NJU and UMA.”
Urology is one of the specialty groups that has recently experienced consolidation, but a similar consolidation trend is happening across the healthcare services sector. “When we look at the recent track record of large groups in ophthalmology, pain management, and gastroenterology, our view is that urology is going to maintain a high transaction volume in the coming years,” said Brian Liberty, Senior Vice President of The Bloom Organization. “There are still many physician groups that are weighing their options. Being part of a large group is not always the answer. However, I do think it’s in every physician’s best interest to explore the opportunities on the market and make informed decisions. There are a lot of market forces right now that make it hard for small groups to compete with health systems and large independent groups,” Mr. Liberty continued.
Bloom first represented NJU and UMA as a sell-side advisor in their partnership with Prospect Hill Growth Partners before being retained as a buy-side advisor for NJU and UMA. Mr. Bloom added, “Everyone understands that our job is to get the best price possible for our clients. But in our line of business where physicians are dependent on ‘the big group’ for income and for overall work satisfaction, it’s equally important to identify the partner with which the physicians can live happily ever after. We enjoy working with NJU and UMA because they have embraced a model that puts physicians first.”
Physicians or investors interested in working with The Bloom Organization should contact Mr. Henry Bloom at 305-974-0700.
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.
About New Jersey Urology:
NJU is the largest urology practice in the United States. The practice provides complete urologic care and comprehensive individualized treatment at more than 60 convenient locations, including six 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.
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.