Gauge Capital has made an undisclosed investment in Miami Beach Medical Group, which provides at-risk primary care. The capital will be used for growth and to support an acquisition. In addition to the investment, Whitney Bowman, Drew Johnson and Daniel Gedney from Gauge Capital have been added to MMG’s board of managers.
SOUTHLAKE, TX – January 2017 – Gauge Capital, in partnership with the shareholders of Miami Beach Medical Group and its affiliates (“MMG” or the “Company”), has created a new organization that provides practice management services to MMG. The Company, which provides at-risk primary care through seven medical clinics located in Florida, focuses on delivering high quality care to thousands of patients through full-risk contracts with Medicare Advantage health plans while also serving Medicaid and commercial populations. Gauge Capital’s investment provides capital and managerial infrastructure to facilitate an acquisition and growth plan for MMG.
“We are very excited about the partnership with Gauge Capital and the shared vision we have for the next stage of growth. Gauge Capital’s investment provides MMG with a value-added strategic partner to help expand our clinical footprint, both in South Florida and beyond, while maintaining our superior clinical care model and high patient satisfaction,” said Dr. Rodolfo Dumenigo, founder of MMG and Chief Executive Officer of the practice management organization.
Whitney Bowman, Partner at Gauge Capital said, “We are excited to affiliate with Dr. Dumenigo. He is a visionary physician in managed care, and under his leadership, MMG has built a differentiated clinical model focused on delivering high quality care to the Medicare Advantage market. Together we hope to expand on the success the Company has had to date and continue to deliver real value to the patients who entrust their care to MMG.”
As part of the investment, Whitney Bowman, Drew Johnson, and Daniel Gedney from Gauge Capital have joined the Board of Managers of the practice management organization.
About Miami Beach Medical Group (www.miamibeachmedicalgroup.com)
MMG provides at-risk primary care through seven medical clinics located in Florida. The Company focuses on delivering high quality care to thousands of patients through full-risk contracts with Medicare Advantage health plans while also serving Medicaid and commercial populations.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a private equity firm that partners with owners, managers and equity stakeholders of successful middle market companies to maximize their potential. Gauge Capital focuses on investing in growing services and technology-enabled companies in the healthcare services, business services, consumer and food sectors. For more information, please contact Andrew Peix, Principal and Director of Business Development at firstname.lastname@example.org.