PE-backed Solaris Health buys Michigan Institute of Urology

Solaris Health, which is backed by Lee Equity Partners, has acquired Michigan Institute of Urology, an advanced urology practice.

Solaris Health, which is backed by Lee Equity Partners, has acquired Michigan Institute of Urology, an advanced urology practice. No financial terms were disclosed.

PRESS RELEASE

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Solaris Health Holdings announced today that Michigan Institute of Urology (MIU), serving southeastern Michigan, has joined as an affiliate practice. Terms have not been disclosed.

MIU becomes the third Midwestern urology practice this year to join Solaris. Chicago-based Associated Urological Specialists (AUS) teamed with Solaris in March. Advanced Urology Associates (AUA), Joliet, IL, signed on in October.

Other members of Solaris, the nation’s leading provider of independent urological services, include metropolitan New York-based Integrated Medical Professionals (IMP), Cincinnati-based The Urology Group (TUG) and Philadelphia-based MidLantic Urology (MLU). New York-based Lee Equity Partners, is a financial partner in Solaris.

The newest Solaris affiliate, MIU, is the most advanced private urology practice in Michigan with 60 providers delivering state-of-the-art care in 19 locations. Mitchell Hollander, MD, CEO of MIU, will serve as Solaris’ Chief Innovation Officer and Vice Chairman of the Board of Solaris.

The addition of MIU means that Solaris now aligns the skills and talents of over 330 providers who care for nearly 500,000 unique patients each year at more than 134 sites in New York, Ohio, Pennsylvania, Kentucky, Indiana, Illinois and Michigan.

“We welcome MIU as a practice that shares our vision to develop a national practice predicated on clinical excellence and business best practices,” stated Solaris Chairman and Chief Ecosystem Officer Deepak A. Kapoor, MD. Solaris President, Gary M. Kirsh, MD added, “By choosing to scale nationally, MIU physicians will maintain their high standards of patient care and gain access to the resources needed to successfully navigate an increasingly complex and consolidated health care system.”

“The size, scale and innovation advantages presented by this national network of urology practices redoubles our dedication to providing patients the most up to date, state of the art care,” said MIU’s Dr. Hollander. “We’re always striving for better outcomes, and ensuring excellence is met in all facets of our practice.”

“The addition of Michigan Institute of Urology, one of the leading urology practices in the United States, boosts the momentum we are building for even greater expansion,” said Eric Mason, MD, MBA, Solaris Health CEO.

McDermott Will & Emery LLP served as legal counsel to Solaris. Edgemont Partners acted as exclusive financial advisor to MIU and Kirkland & Ellis LLP served as legal counsel to MIU.

Learn more at www.solarishealthpartners.com.

About Solaris Health
Solaris Health is a leading national healthcare platform committed to enhancing access to specialty healthcare and continually improving patient outcomes. Empowering community providers allows us to make sure that every decision we make puts patient care at the forefront. We are growing to meet the changing needs of the healthcare providers, and to develop innovative ways to better deliver value and state-of-the-art care to our patients. Solaris Health is proud to be among the most innovative medical organizations in the United States.

Visit www.solarishealthpartners.com.

About Michigan Institute of Urology
Michigan Institute of Urology is one of the largest independent urologic sub-specialty groups in the United States, with 19 offices located throughout southeast Michigan. The practice, comprised of over 60 providers, is at the forefront of delivering the most advanced urologic care for men, women and children. MIU is committed to continuously improving the practice of urology through its research department with over 20 ongoing interventional, observational and biomarker trials.
Visit www.michiganurology.com