The Bloom Organization Represents Premier Texas Cardiovascular Group, CardiaStream, in Market Consolidation Transaction

  • April 6, 2023
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The Bloom Organization (“Bloom”) served as exclusive sell-side investment banker and advisor for Cardiovascular Associates of East Texas (“CAET” dba “CardiaStream”) and its affiliated entities.  CardiaStream, headquartered in Tyler, Texas, is the region’s preeminent group for treating cardiovascular diseases.  Their physicians have varying certifications in Nuclear Medicine, Electrophysiology, Cardiac Intervention, Echocardiography, and Peripheral Vascular & Venous Disease.

“The landscape for cardiology practices varies quite significantly from one geography to another; not only regions of the US, but even neighboring states,” said Bob Goettling, Principal at Bloom. “We ran a competitive process and received a number of offers that were very compelling.  Upon selection of the best strategy for the group, a multi-party transaction was achieved with a Health System, management company, and the physicians that will create the largest cardiology delivery system in East Texas.  Our experience with both the doctors at CardiaStream and buyer pool strengthened the thesis that cardiology is hugely attractive for consolidation, but complex in the approach and structuring,” said Goettling.

CAET occupies a 43,000 square foot facility housing physician clinics, a vein center, research, echocardiography testing, nuclear stress testing, vascular ultrasound, Holter monitoring, and a state-of-the-art ambulatory surgery center (ASC) and cardiac catheterization lab.  Bloom Vice President Adam Peterson noted, “There were certainly a lot of moving pieces to consider in a transaction of this size and nature.  Corporate structures, third party ownership interests, and a hybrid office-based lab (OBL) with ASC were just a few.  It was a pleasure to work with, and learn from, the doctors and leadership at the health system and the management company.”

The Bloom Organization is currently engaged with experts in cardiology and other medical specialties.  Physician owners and practice administrators looking to explore transaction and liquidity opportunities should contact The Bloom Organization at (305) 974-0700 or info@bloomllc.com.

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