Comvest Partners has acquired Interamerican Medical Center Group, a Florida-based managed services organization that provides primary care and specialty services to Medicare, Medicaid and commercial members. Also, Athyrium Capital Management participated in the transaction. No financial terms were disclosed. Oppenheimer & Co. provided financial advice to IMC on the deal.
West Palm Beach, FL, February 2, 2017 – Comvest Partners (“Comvest”) today announced the completion of its acquisition of Interamerican Medical Center Group (“IMC”), a Florida-based managed services organization that provides primary care and specialty services to Medicare, Medicaid and commercial members. Founded in 2004, IMC is headquartered in Miami Lakes, Florida, with 19 medical centers located throughout Miami-Dade, Broward and Orange counties. The acquisition was led by Comvest and includes Athyrium Capital Management.
“There will continue to be increasing demand for Medicare Advantage given its strong value proposition and a growing population of seniors,” said Roger Marrero, Managing Partner at Comvest Partners. “IMC is well positioned to capitalize on these trends as a result of its strong relationships with managed care organizations and its high quality care delivery, which leads to better outcomes, that in turn drives down healthcare costs.”
Jose Garcia, Chairman of IMC, said, “We are pleased to partner with Comvest and leverage their extensive healthcare experience and expertise. Together with Comvest, we look forward to pursuing the numerous opportunities that exist in Florida and other managed care markets.”
McDermott Will & Emery acted as legal advisor to Comvest in connection with the transaction. Oppenheimer & Co. acted as exclusive financial advisor to IMC.
About Interamerican Medical Center Group
Interamerican Medical Center Group provides primary care and specialty services to Medicare, Medicaid and commercial populations through 19 medical centers in Florida. The company delivers high quality medical care to thousands of members for numerous managed care organizations. For more information, please visit www.interamericanmedical.com.
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across the U.S. Since its founding in 2000, the firm has invested over $2.4 billion in over 140 companies. Today, Comvest’s funds have $2.3 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit www.comvest.com.
About Athyrium Capital Management
Athyrium Capital Management, LP (“Athyrium”) is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $3.2 billion in committed capital. The Athyrium team has substantial investment experience in the healthcare sector across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, and healthcare focused services. The team partners with management teams to implement creative financing solutions to companies’ capital needs. For more information, please visit www.athyrium.com.