US Acute Care Solutions Physician-Owners to Buy Out Private Equity Partner WCAS
Press Release
Feb 9, 2021
USACS Executive Chairman of the Board of Directors, Dominic J. Bagnoli, MD, FACEP, FAAEM, said, “We are extremely grateful to our partners at WCAS, who helped form USACS in 2015 with the stated goal of bringing together like-minded, independent physician practices committed to perpetual physician ownership. WCAS’ faith in our vision of physician ownership has created the opportunity for our physicians to take full control of our future.
“For years, skeptical observers noted it would only be a matter of time before physicians lost control of their practices entirely. We were determined to prove them wrong, and we have succeeded,” Dr. Bagnoli concluded.
Brian T. Regan, General Partner at WCAS, said, “All of us at WCAS are proud of our involvement with USACS. That has been especially true these past 12 months when everyone involved, from physicians and advanced practice providers, to non-clinical support staff, to the group’s hospital partners came together as one to care for patients as the first line of defense against COVID-19. USACS has an extremely bright future as its physicians and system partners take full ownership.”
James Frary, USACS Chief Executive Officer, said, “Soon the world will put an end to the greatest global health crisis of our lifetimes, and USACS will emerge stronger than it entered thanks to the determined efforts of our physicians, APPs and non-clinical employees.
“Together with our health system partners, our physicians taking full ownership of the group will further position USACS as the premier destination for acute care clinicians and the premier partner for health systems that value high-quality, patient-focused acute care.”
Mr. Frary continued, “There is no question this move signals growth ahead for USACS, and it distinguishes us as the standard bearer in our industry for the scaled partnership model.”
This transaction is facilitated in part by an investment made by funds managed by affiliates of Apollo Global Management, Inc. (together with its subsidiaries, “Apollo”).
Apollo Partner and Head of U.S. Hybrid Value, Jason Scheir, said, “Apollo is excited to advance the USACS physician ownership model, which we view as strategically differentiated in the industry. This transaction allows USACS to continue to be controlled by its physician owners and positions the business for additional growth with capital and strategic support from Apollo’s Hybrid Value business.”
The transaction is subject to customary closing conditions and expected to close in Q1 2021. Barclays, Greenhill and Deutsche Bank acted as financial and strategic advisors to USACS and Ropes & Gray and McDermott Will & Emery served as legal counsel.
About USACS
Founded by 15 emergency medicine and hospitalist physician groups across the country, USACS is the national leader in physician-owned integrated acute care, including emergency medicine, hospitalist and critical care services. USACS provides high-quality care to approximately 6 million patients annually across more than 260 programs and is aligned with leading health systems across the country.
###
Media Contact
Marty Richmond
Corporate Communications Department
US Acute Care Solutions
330.493.4443 x1406
[email protected]
Related News
Press Release
Oct 1, 2024
Dr. L. Anthony Cirillo Elected American College of Emergency Physicians (ACEP) President-Elect
CANTON, Ohio, October 1, 2024 – US Acute Care Solutions (USACS), the nation’s largest physician-owned emergency and inpatient medicine practice, announced today that L. Anthony Cirillo, MD, FACEP, Director of Government Affairs, has been elected as the American College of Emergency Physicians (ACEP) President-Elect. The ACEP Council elected Dr. Cirillo president on Saturday, September 28, prior to their annual ACEP Scientific Assembly Conference in Las Vegas, NV. As a member of ACEP for more than 30 years, Dr. Cirillo has served in numerous leadership positions, most recently as Chair of the Board, completing his back-to-back three-year terms. He was also named the 2018 recipient of ACEP's Colin C. Rorrie, Jr., PhD Award for Excellence in Health Policy. Dr. Cirillo began with a USACS legacy group in 2004 and has served in various clinical, quality, and leadership roles during his tenure. The focus of his work has been, and continues to be, bridging the gap between healthcare and health policy. Chris Hummer, USACS Chief Executive Officer, said, “We are immensely proud of Dr. Cirillo for all he has accomplished, both on behalf of USACS and ACEP. His steadfast determination to advance the emergency medicine specialty is inspiring, and we are fortunate to have him as an integral member of our team.” “It is a true honor to be named ACEP President-Elect,” said Dr. Cirillo. “My passion for the emergency medicine specialty is deeply rooted and this role is the perfect opportunity to continue serving my fellow emergency medicine colleagues, ensuring a bright future for all those who choose to follow in our footsteps.” Dr. Cirillo earned his medical degree from the University of Vermont College of Medicine and completed his emergency medicine residency at the University of Massachusetts Medical Center where he was Chief Resident. About USACS Founded by emergency medicine and inpatient physicians across the country, USACS is solely owned by its physicians and hospital system partners. The group is a national leader in integrated acute care, including emergency medicine, hospitalist, and critical care services. USACS provides high-quality care to approximately ten million patients annually across more than 400 programs and is aligned with many of the leading health systems in the country. Visit usacs.com for more. ### Media Contact Marty Richmond Corporate Communications Department US Acute Care Solutions 330.493.4443 x1406 [email protected]
Press Release
Jul 1, 2024
US Acute Care Solutions Names Dr. Tanveer Gaibi Regional Vice President of East Division
CANTON, Ohio, July 1, 2024 – US Acute Care Solutions (USACS), the nation’s largest physician-owned provider of hospital-based emergency and inpatient medicine, announced today that it has named Tanveer Gaibi, MD, MBA, FACEP, a Regional Vice President of its East Division. Most recently, Dr. Gaibi served as Chairman of Emergency Medicine at Inova Fairfax and Vice President of Strategic Development for the USACS East Division. With a diverse leadership background spanning rural, urban, and tertiary care academic centers, Dr. Gaibi has been a key contributor in USACS' business development endeavors across the East Division. His extensive clinical experience and proven operational success have been instrumental in shaping business strategies and driving organic growth initiatives. President of the USACS East Division, Martin Brown, MD, FACEP, said, “Dr. Gaibi has been a tremendous asset for both our division and our practice. He continually embraces an enterprise-wide perspective and utilizes his certified coaching skills to invest in the development of his colleagues. We are thrilled to have him join our leadership team.” Dr. Gaibi said, “I am eager to serve our practice in this capacity and make an impact. Our talented divisional leadership team has generated an outstanding amount of momentum that I look forward to perpetuating. I am grateful for their confidence in my leadership abilities to fill this critical role.” Dr. Gaibi is a board-certified emergency physician who completed a seven-year BS/MD program at SUNY Upstate Medical University. He went on to complete his emergency medicine residency at the University of Maryland. Later, he earned his MBA from the University of Virginia Darden School of Business. About USACS Founded by emergency medicine and inpatient physicians across the country, USACS is solely owned by its physicians and hospital system partners. The group is a national leader in integrated acute care, including emergency medicine, hospitalist, and critical care services. USACS provides high-quality care to approximately ten million patients annually across more than 400 programs and is aligned with many of the leading health systems in the country. Visit usacs.com for more. ### Media Contact Marty Richmond Corporate Communications Department US Acute Care Solutions 330.493.4443 x1406 [email protected]