The Bloom Organization Advises One of the Nation’s Largest IPAs in Transaction with Vytalize Health
- April 16, 2023
The Bloom Organization (“Bloom”), a leading healthcare services focused investment bank, is pleased to announce that its client, Independent Practice Association of New York, Practice Management of America and affiliated entities (together, “IPA NY”), has completed a strategic partnership with Vytalize Health Inc (“Vytalize”), a leading risk-bearing provider enablement platform and portfolio company of Enhanced Healthcare Partners (“EHP”).
Headquartered in Suffolk County, New York, IPA NY is one of the largest and fastest growing at-risk, value-based healthcare services companies, managing care for more than 150,000 patients with ~$1 billion in annual healthcare costs under management. Through a patient centered approach, the company partners with over 3,000 primary care physicians and specialists across 1,000+ locations to deliver clinical care management and care coordination services that improve clinical outcomes and reduce medical costs.
“The vision for IPA NY was always to find the right strategic partner to help accelerate the full potential of value-based care for our robust network of primary and specialty care providers. Vytalize is an emerging market leader and together, we can bring superior data and technology to engage and strengthen independent providers. This ensures their patients come first and they receive the right care at the right place at the right time and receive comprehensive care that improves their outcomes while also reducing healthcare costs overall,” said Michael Guarino, Founder and CEO at IPA NY.
Michael Guarino continued, “Through a competitive market process, Henry Bloom and Steven Weiss at The Bloom Organization were integral in navigating us successfully through a complex transaction, finding the best partnership, and ultimately maximizing value. This is the second time I’ve engaged Bloom as our exclusive sell-side M&A advisor and is a testament to their in-depth knowledge of the healthcare market and expertise in managing the negotiation process.”
Steven Weiss, Senior Vice President at Bloom, added, “We have enjoyed partnering with Michael and Marissa Guarino, and the rest of the IPA NY team. It has been incredibly rewarding to have executed on the shared vision that we all had at the start of the transaction journey, helping IPA NY find the right partnership that will best scale the organization and further develop its comprehensive best in class services to independent physicians. We look forward to following its continued success.”
McDermott Will & Emery LLP represented IPA NY and Vytalize as legal counsel in connection with the transaction.
ABOUT THE BLOOM ORGANIZATION
The Bloom Organization has 30+ years of experience working exclusively 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 firstname.lastname@example.org.
ABOUT INDEPENDENT PHYSICIAN ASSOCIATION OF NEW YORK
Independent Physician Association of New York (IPA NY) is a leading healthcare organization dedicated to improving the quality of care for patients across New York State, promoting collaboration and coordination among independent physician practices to deliver high-quality patient-centered care. IPA NY’s network of nearly 3,000 primary care providers and specialists is committed to providing comprehensive, cost-effective and coordinated healthcare services to patients with a focus on preventive care and disease management. IPA NY physicians and healthcare providers work together to ensure patients receive the right care, at the right place, at the right time.
ABOUT VYTALIZE HEALTH
Vytalize Health is a risk-bearing provider enablement platform addressing the healthcare industry’s biggest challenges with its cutting-edge value-based care delivery system. Vytalize partners with more than 2,500 leading primary care providers to improve the quality of care through evidence-based medicine and a patient experience rooted in kindness. By delivering the right data at the right time in the workflow to physicians and their staff, Vytalize makes its partners more efficient and effective, allowing them to focus on proactive, personalized medicine to improve the value of care and lower costs.
ABOUT ENHANCED HEALTHCARE PARTNERS
Enhanced Healthcare Partners is a leading healthcare-focused private equity firm dedicated to making minority and majority investments in founder and entrepreneur-led lower middle-market companies. The EHP team has managed approximately $1 billion in equity capital and is comprised of professionals with deep healthcare, operations, consulting and investment management experience. The firm seeks to invest in companies between $50-$250 million in enterprise value, driving deep partnerships with management and founders to catalyze growth and build great organizations.