Pharos Capital Group-backed Complete Health acquired two primary care practices in Birmingham, Alabama: Northside Medical Associates and Adamsville Family Medicine. The deal brings Complete Health’s add-ons to 10 since the platform was established in 2018.
Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced that its primary care group platform, Complete Health, has acquired two Birmingham, AL primary care practices, Northside Medical Associates (“Northside”) and Adamsville Family Medicine (“Adamsville”). Terms of the transactions were not disclosed. Complete Health is a physician-driven, value-based group dedicated to quality patient outcomes.
“We believe primary care will be the driver of healthcare cost reduction,” said Jim Phillips, Partner at Pharos. “Through Complete Health, we offer patients access to a quality-focused and value-oriented healthcare approach. We have seen this year’s pandemic illustrate the urgency of understanding and addressing patient needs through an integrated provider, focusing on continuous proper care that leads to better outcomes and improved overall health.”
Northside, founded in 2001 with three physicians, has grown to 28 providers in four medical offices, and has an imaging center and full-service diagnostic laboratory. Its main, 80,000-square-foot campus is in Pell City with additional locations in Moody, Springville, and Trussville. Northside offers primary care as well as laboratory, imaging, urgent care, and an in-house pharmacy. Providing quality and compassionate healthcare for nearly twenty years, Northside concentrates on the provider-patient relationship with healthcare for the entire family.
Established in 2001 by Dr. Albert Smith and Dr. Mark Richman, Adamsville Family Medicine, located in Adamsville, AL, is known for its personalized patient care; the group has a wide-ranging expertise in disease management and wellness.
Jeff Preuss, CEO of Complete Health, said, “We welcome Northside and Adamsville to the Complete Health family. We are proud of our wellness-oriented innovative care model that offers comprehensive, top-notch services to our communities, and we are excited to be growing quickly in Birmingham and across the southeast U.S.”
Including Northside and Adamsville, Complete Health has made ten add-on investments since it was established in 2018.
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About Complete Health
Complete Health is a physician-centric, professionally managed, technology-enabled primary care group delivering excellent quality support services and patient health outcomes. The group, based in Jacksonville, Florida, has practices in metro-Birmingham, AL and metro-Daytona, FL, with plans to grow across the Southeast. Complete Health builds on existing practices to embrace value-based care concepts, reduce physician administrative burden, and focus on patient care and quality outcomes – all while lowering the total cost of care. For more information about Complete Health visit www.completehealth.com.
About Pharos Capital Group
Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is a physician-founded private equity firm focused on growing healthcare companies which lower the total cost of care, improve patient outcomes and expand access to care. Pharos invests to reduce healthcare inequalities in underserved markets across the United States, especially within urban and rural communities. Since inception, Pharos has invested in 54 companies and currently has over $1.1 billion of assets under management. Pharos typically invests $25-$50 million in rapidly growing middle market companies seeking later stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations.