Palm Medical Centers, a portfolio company of MBF Healthcare Partners, has acquired Lakeland, Florida-based Jay Care Medical Center Inc, a primary care physician medical practice and Parkview Medical Group, an affiliated hospitalist group. No financial terms were disclosed.
CORAL GABLES, Fla.–(BUSINESS WIRE)–Strategic Health Services, LLC d/b/a Palm Medical Centers (“PMC”), an MBF Healthcare Partners II, L.P. (“MBF”) portfolio company, announced today that it has acquired substantially all of the assets of Jay Care Medical Center, Inc., a primary care physician medical practice and, Parkview Medical Group, LLC, an affiliated hospitalist group (collectively “Jay Care” or the “Company”).
Founded by Dr. Japinder Singh in 1999, Jay Care is headquartered in Lakeland, Florida and has seven locations across Polk and Hillsborough Counties. The Company employs 22 medical providers and serves approximately 9,000 Medicare patients, 7,500 Medicaid patients, and 15,000 Affordable Care Act and commercially insured patients.
Miguel B. Fernandez, Chairman of MBF, said, “We believe that there are significant opportunities in the Central Florida market caused by recent payor and provider mergers. As a result, we are focused on significantly expanding our presence in this market and see Jay Care as a great platform to execute on our consolidation strategy.”
“Jay Care will serve as the foundation for our growth strategy in Central Florida as we continue to partner with other providers and leverage our experience in the managed care space. The combination of Jay Care and Palm Medical Centers will include 14 medical centers that serve more than 28,000 Medicare and Medicaid patients across Florida,” said Juan M. Ortiz, CEO of PMC.
Dr. Singh, founder and CEO of Jay Care, said, “We are pleased to be joining Palm Medical Centers and we believe that our mutual focus on patient engagement and healthy outcomes will continue to drive our success moving forward.”
About Strategic Health Services, LLC
Strategic Health Services, LLC d/b/a Palm Medical Centers is a provider of primary care services to more than 43,000 Medicare, Medicaid and commercially insured patients across Florida. Partnering with numerous managed care organizations, Palm Medical Centers offers convenient and coordinated medical care with a focus on quality. In addition to primary care services, the company coordinates cardiology, dentistry, optometry, pediatrics, podiatry, psychiatry and other specialist services. For more information, please visit www.palmmedicalcenters.com.
About MBF Healthcare Partners II, L.P.
MBF Healthcare Partners II, L.P. (“MBF”) is an industry-focused private equity firm dedicated to the healthcare sector that invests in leveraged buyouts, growth capital investments and recapitalizations. The Principals of MBF have substantial operating experience in healthcare and have held senior management positions in both private and publicly-traded healthcare companies. MBF principals have managed and helped build some of the nation’s most innovative and successful healthcare companies. The firm is headquartered in Coral Gables, Florida. For more information, please visit www.mbfhp.com.