The Bloom Organization Advises NJ Multi-Specialty Practice on Partnership with Optum/United Healthcare
- July 2, 2021
The Bloom Organization (“Bloom”) is pleased to announce that its client Coastal Healthcare (“Coastal”) has joined Riverside Medical Group (“Riverside”), a division of Optum/United Healthcare. Coastal is a multi-specialty group practice of over 60 providers predominantly located in Monmouth and Ocean counties in New Jersey that has been providing exceptional patient care since 1998. Riverside has become the dominant physician practice in the state and as they continue their expansion throughout New Jersey, the acquisition of Coastal jumpstarts Riverside’s expansion into Central Jersey.
“We guided the physicians at Coastal through a comprehensive analysis of their strengths and market opportunities ultimately leading them to the decision to join Riverside,” said Robert Goettling, Head of Transaction Services at Bloom. “The combination was a clear example of 1 + 1 = 3 for the Coastal physicians, Riverside and Optum,” further commented Mr. Goettling. “The Coastal physicians are acutely aware of the transition to value-based care and the need for a strong partner to navigate those waters in New Jersey,” said Dr. Eric Abrams, President of Coastal. He further noted, “Riverside/Optum gave us the perfect combination of quality and size to help ensure our success well into the future.”
The Bloom Organization is focused on representing entrepreneurial owners of healthcare practices considering their strategic options, whether it is selling an interest, creating a new partnership, or growing through acquisition. We’ve used this experience to complete more than $5 Billion in transactions on behalf of our clients. As the industry leader of Mergers & Acquisitions for physicians and their practices, our proven track record and credibility with buyers enables us to help our clients realize the best financial and non-financial outcomes. For more information, please contact Hallie Berk, Vice President Business Development at Bloom or fill out the following form.