PE Deals

Canadian Business Growth Fund invests in Specialty Medical Partners

Based in Toronto, Specialty Medical Partners is a consolidator of independent cardiology, respirology and internal medicine healthcare facilities.

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  • Specialty Medical Partners also completed its acquisition of Ottawa Cardiovascular Centre Group, a cardiology platform
  • The proceeds of CBGF’s investment supported the acquisition and will provide working capital and funding for future acquisitions
  • The deal marks CBGF’s 30th minority investment

Canadian Business Growth Fund (CBGF) has invested in Specialty Medical Partners, a Toronto-based consolidator of independent cardiology, respirology and internal medicine healthcare facilities. No financial details of the transaction were disclosed.

Specialty Medical Partners also completed its acquisition of Ottawa Cardiovascular Centre Group, a cardiology platform comprised of three clinics located in Ottawa.

The proceeds of CBGF’s investment supported the acquisition and will provide working capital and funding for future acquisitions, according to a release.

Specialty Medical Partners helps physicians manage their assessment-based practices by reducing day-to-day administrative and operational burdens. It is headed by co-founders Michael Black, CEO, and Graham Neil, CFO. They are joined by Olia Galeva, COO, and Krishna Sharma, chief medical officer.

CBGF was launched in 2018 with the backing of 13 Canadian bank and non-bank financial institutions. The Toronto-based private equity firm provides patient minority capital and strategic support to Canadian mid-market businesses.

The Specialty Medical Partners deal marks CBGF’s 30th minority investment.