Integrated Emergency Medicine Specialists Inc and BelHealth Investment Partners LLC have teamed up to launch Integrated Care Physicians Inc, a specialty provider of physician services to hospitals. No financial terms were disclosed.
New York, New York – August 16, 2017 – Integrated Emergency Medicine Specialists, Inc. (“IEMS”), a leading emergency medicine provider, and BelHealth Investment Partners, LLC (“BelHealth”), a New York-based healthcare private equity firm, today announced the formation of Integrated Care Physicians, Inc. (“ICP” or the “Company”). IEMS’s group and practice management operations will become the foundation for ICP. Terms of the transaction were not disclosed.
Founded in 2015 and headquartered in Naples, Florida, IEMS is a leading provider of emergency department services. Specifically, IEMS provides emergency department medical directorship and management services, which includes recruitment, credentialing and qualifying for third-party billing contracts and requirements. IEMS was founded by two experienced emergency medicine entrepreneurs, Dr. Hunter Brown and Charles Barnicoat, who will continue on the management team.
BelHealth’s investment thesis is to create a regional, diversified platform with a physician-centric culture in the specialty provider space with an initial focus on hospital emergency departments. The emergency department is commonly referred to as the hospital’s front door – responsible for driving admissions and referrals to specialists and diagnostics. With high volume demands and reimbursement pressure, it is increasingly important for emergency department staff to move patients quickly and comprehensively through the department. The Company will initially focus on the Florida market and believes there is an opportunity to dramatically expand the Company’s presence within the state.
Dr. Hunter Brown, Founder and Chief Executive Officer of IEMS, said “Charlie and I are excited to partner with BelHealth as we continue our growth and expansion in Florida across new hospitals. BelHealth’s investment and extensive healthcare network will be incredibly valuable as we start this next chapter of growth. We look forward to leveraging their experience and building our strong platform into a leading emergency department provider, focused on high quality patient care.”
Scott Lee, Managing Director of BelHealth, stated “We are confident in our ability to build ICP into a leading specialty provider of physician services to hospitals. Hunter and Charlie have built a solid foundation, and the Company has developed a strong brand in southwest Florida that is known for quality patient care. By leveraging the Company’s staffing model, processes, protocols and communication with physicians and hospital administration, we believe there are several organic contract opportunities that can be earned post-closing.”
Harold S. Blue, Founder and Managing Partner of BelHealth added, “We have evaluated numerous opportunities in the provider space and are thrilled to be partnering with two terrific founders that have built a strong clinical business poised for rapid growth. We are already evaluating multiple complementary acquisitions in emergency medicine as well as other specialty provider areas. We will augment the current team with experienced corporate industry executives and focus on organic growth while aggressively pursuing add-ons in strategically important geographies.”
About Integrated Emergency Medicine Specialists
Founded in October 2015 and headquartered in Naples, FL, IEMS is a provider of emergency department staffing and management services, focusing on process improvement and quality patient care. Specifically, IEMS provides emergency department medical directorship and management services, including recruitment, credentialing and qualifying for third-party billing contracts and requirements.
About BelHealth Investment Partners
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm invests across three core healthcare segments: Services, Products and Distribution. BelHealth is investing from its current $350 million fund.