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The Bloom Organization (“Bloom”) represented its client, Palm Beach Digestive Associates (“PBDA”), as sell-side advisor in its acquisition by Medical Specialists of The Palm Beaches (“MSPB”).  PBDA is the premier Gastroenterology Practice & Colonoscopy Clinic in South Florida. 

Established almost 20 years ago, Palm Beach Digestive Associates specializes in the evaluation, management and treatment of all aspects of gastroenterology and gastrointestinal endoscopy.  Their expertise and market presence were highly attractive and accretive to MSPB’s top-quality care throughout Palm Beach and the surrounding counties in Florida.

MSPB is a primary care-focused, multi-specialty physician group practice serving Palm Beach and Broward counties in Florida.  They are supported by equity investment from Ascend Capital Partners (“Ascend”), as well as management partners at CareAbout (“CareAbout”), a management company and service provider that helps to empower physicians, enable value-based care success, and energize growth & scale.  Jason Bond, Head of Growth and Business Development at CareAbout, led buy-side efforts.

The physicians from PBDA join MSPB’s network of nearly 100 providers spread across over two dozen locations, offering an array of services which now include Gastroenterology.

The Bloom Organization previously represented PBDA physician owner Dr. Moshe Hirth in a joint venture with his surgery center.  “We worked with Dr. Hirth and his team on the ASC transaction, and built a relationship that made this second opportunity familiar and smooth” said Brian Liberty, Managing Director at Bloom and team lead for both transactions.  “Both were a lot of work, and we are especially pleased with the outcome with MSPB.”

Adam Peterson, Vice President at Bloom, worked both transactions as well.  “Despite rising interest rates and increased cost of capital, we continue to see high levels of interest in solid physician owned groups.  We ran a competitive process and were very happy with how the market spoke”, he said.

Dr. Hirth commented: “It has been a pleasure to work with the team at Bloom.  I had high hopes for my practice transaction after what they were able to do with our surgery center.  They exceeded those expectations, negotiated very favorably for me, and I am thrilled with the results.” 

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 or to discuss potential monetization opportunities, please contact The Bloom Organization at (305) 974-0700 or info@bloomllc.com.