Spectrum Medical Partners Inc, a portfolio company of HealthEdge Investment Partners LLC, has acquired Fort Myers, Florida-based M&H Med Housecalls LLC, a provider of physicians and mid-level care providers in the post-acute setting. No financial terms were disclosed. As part of the deal, Stacy Hermina, chief operating officer of M&H, will join Spectrum as COO of Southwest Florida Post-Acute.
Tampa, Florida – October 2, 2018 – Spectrum Medical Partners Inc. (“Spectrum” or the “Company”), a portfolio company of HealthEdge Investment Partners, LLC (“HealthEdge”), announced today that it is continuing to expand its hospitalist practice in Florida with the addition of M&H Med Housecalls, LLC (“M&H”).
Based in Fort Myers, M&H provides physicians and mid-level care providers to patients in the post-acute setting, including skilled nursing facilities, assisted living facilities, and patient home visits in the greater Ft. Myers and Naples area. The addition of this practice is expected to add over 25,000 encounters across 20 facilities to the Spectrum platform.
M&H marks Spectrum’s second add-on acquisition following HealthEdge’s investment and partnership with Central Florida Inpatient Medicine in March 2017, which provided the Company with a foundation to continue building a leading hospitalist provider via acquisitions and organic expansion. Spectrum closed its first add-on earlier in 2018 with the acquisition of Cape Coral Hospitalists, expanding its Orlando-based service area to include Southwest Florida.
As part of the M&H transaction, key management team members will join Spectrum’s management. Stacy Hermina, Chief Operating Officer of M&H, will join Spectrum as Chief Operating Officer of Southwest Florida Post-Acute.
“The addition of M&H underscores Spectrum’s ongoing commitment to providing the most effective acute and post-acute care in Florida. Our goal is to deliver the best possible patient outcomes while mitigating the health risks and expenses associated with post-acute care for all our value based community partners.” says Dr. Krishan Nagda, Spectrum’s Chief Executive Officer.
Scott Heberlein, a Partner at HealthEdge shared, “We are pleased to add M&H to the Spectrum platform and have Ms. Hermina join the regional leadership team. In establishing a solid operating model that addresses the hospitalist coverage needs across the acute and post-acute spectrum, we look forward to further expanding delivery of this vital service in other key Florida markets.”
ABOUT SPECTRUM MEDICAL PARTNERS
Spectrum Medical Partners is a leading provider in hospital medicine and post-acute services. The Company utilizes over 200 medical doctors and nurse practitioners serving patients in area hospitals in Central Florida and Tampa Bay Market and over 70 skilled nursing facilities and other post-acute settings. Spectrum Medical Partners’ growth has been driven by its mission of being a leader in provider support to Value Based Care partners throughout the healthcare continuum. For more information on Spectrum, please visit www.spectrummedpartners.com or contact Michelle Pribble at (407)647-2346.
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, please visit www.healthedgepartners.com or contact Elizabeth Breslin at (813)490-7104.