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The Bloom Organization, a leading healthcare investment bank and physician-focused M&A advisor, is pleased to announce the successful closing of a transaction between its client, Medicenter, and Summit Health.  The transaction closed on December 6, 2021.  Summit Health is the largest independent multispecialty, outpatient-focused physician group in the United States and represents the shared vision of Summit Medical Group and CityMD.  With over 140 locations, CityMD is the largest urgent care provider in the New York metropolitan area.

Founded by Dr. Robert E. Scully, Medicenter’s two walk-in Urgent Care Centers operating in Suffolk County, Long Island have been serving the needs of the surrounding community for over 30 years.  Dr. Robert E. Scully and his medical staff at the Huntington Station and Northport locations have seen generations of patients in both 2,700+ sq. ft. clinics, open 7 days a week. 

“We are incredibly pleased with the speed at which we were able to close this transaction, having begun conversations with interested parties only a few months ago.  This serves as a testament not only to the exceptional practice that Dr. Scully has built, but to Bloom’s industry expertise, strong relationships, and meticulous sales process. The competitive bidding process yielded several interested parties, and ultimately the right choice for Medicenter was Summit Health CityMD.” said Brian Liberty, Managing Director at The Bloom Organization. 

Dr. Robert E. Scully noted, “The Bloom team was instrumental in bringing the transaction to completion, and in a particularly expeditious time frame.  The team managed the entire process from start to finish, and I commend the skill with which they handled the complexities of the process as well as the negotiations.  As I witnessed the laborious nature of the due diligence process, it became evident that I needed a team of professionals on my side.  I could not have imagined going through this process without Bloom.”

The Bloom team included Brian Liberty, Managing Director, and Hallie Berk, Vice President.  Garfunkel Wild, P.C. served as the seller’s legal counsel.

The Bloom Organization has 30+ years of experience working exclusively on healthcare transactions assisting physicians, health systems and private equity firms in market consolidation strategies.  For more information, please contact Hallie Berk, Vice President Business Development at Bloom.