The Bloom Organization Advises Texas ENT Specialists on Private Equity Partnership
- January 11, 2021
The Bloom Organization, a healthcare and physician-focused sell-side advisor, today announced that its client, Texas ENT Specialists (“TENTS”), has partnered with Audax Private Equity’s (“Audax”) portfolio company South Florida ENT Associates (“SFENTA”), a Florida-based provider of ear, nose, and throat (“ENT”) care. The combined TENTS and SFENTA entities will become a part of an ENT management services organization (“MSO”), but will retain their respective brands in Texas and Florida.
Based in Houston, TENTS is the largest independent ENT provider in Texas. Through its new affiliation with SFENTA, TENTS will serve as a new platform for growth in the state. Currently, TENTS’ 33 ENT physicians operate in 15 clinical locations throughout the greater Houston area. TENTS physicians are nationally recognized as top-quality clinicians and thought leaders.
Audax Private Equity is a leading middle-market private equity investor with a history of investments in the physician practice management sector.
“Today marks the successful completion of an extensive search to find the ideal private equity sponsor for TENTS’ growth strategy,” said Dr. Cary Moorhead, Board President of Texas ENT Specialists. “Even as the pandemic weighed on our business and the country, we worked lockstep with The Bloom Organization to navigate through it all. Our physicians are excited to join forces with many more of our colleagues throughout the country during the months and years to come.”
“It was an honor and privilege to have represented TENTS in this transaction,” said Brian Liberty, Managing Director of The Bloom Organization. “The TENTS business leaders and physicians are second to none. I believe they have all the tools and attributes of a practice management platform that will bring incremental value to future physician partners.”
DLA Piper LLP (US), led by Joshua Kaye, Partner and Chair of the firm’s U.S. healthcare sector, provided legal counsel to TENTS.
The Bloom Organization would like to recognize Ms. Louise Eddy and Ms. Jennifer Welch for their immeasurable contributions to TENTS. Ms. Eddy served 20 years as Executive Director and CEO of TENTS before passing away in March 2020. Ms. Welch served previously as COO before assuming CEO responsibilities earlier this year.
To speak with The Bloom Organization, please contact Henry Bloom at 305-974-0700.