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November 2020. Physician Growth Partners (PGP) is pleased to have represented Urology Austin and its affiliated businesses (collectively “UA” or the “Company”) in establishing a partnership to form Urology America to develop a national, best in class urology platform.
UA was established in 2003 through the strategic combination of three premier independent urology practices in the greater Austin market. The Company grew to dominate the market and solidified itself as the top-quality urologic care provider and a nationally recognized clinical thought leader.
Twenty-three shareholders lead UA’s clinical operations. This includes management of the various service lines, including comprehensive medical and surgical urology, a state-of-the-art radiation oncology center, a full-service pathology lab, and an in-house pharmacy, among other ancillary services. UA’s clinical network exceeds 50 providers across more than 20 locations, with more than 250 support staff across the business.
PGP served as the exclusive advisor to Urology Austin, as they evaluated strategic alternatives and consummated a new partnership to form Urology America, with the goal of developing the leading national urological platform centered around cutting-edge clinical care.
Speaking on the transaction process, Patrick Murphy, former CEO of Urology Austin, commented, “Our entire process with PGP has been outstanding. I’ve worked with countless advisors over my almost 30 years in healthcare on M&A partnerships, and never has one been so involved as Michael and the PGP team. What impressed me the most was their interest in learning our business from top to bottom to ensure everything was covered properly throughout the deal. They were with us every step of the way from beginning to end. Their diligence and assistance in navigating through the issues gave us the assurance the outcome we achieved was a success.”
Michael Kroin, Managing Partner of Physician Growth Partners, added, “PGP is incredibly pleased with the outcome we achieved alongside UA. The shareholders had the preeminent regional platform and were ready to replicate it at the national level. The Company’s trust in PGP allowed us to both work quickly and get creative to meet Urology Austin’s goals and succession plans. The formation of Urology America in developing a national platform while maintaining clinical excellence is what the shareholders and management team of UA were seeking when we set out on this process. We look forward to seeing the platform grow into the leader they aspire to be.”
The newly formed Urology America platform is focused on growing both organically and through partnerships with other leading independent urology groups across the country that share their dedication to exceptional clinical care and progressive thought leadership within Urology.
Physician Growth Partners is a boutique healthcare service platform dedicated to advising physician practices in transactions with private equity. They create value by providing operational support, strategic positioning, and transaction advisory, ultimately realizing an optimal outcome for their clients.
For more information about Physician Growth Partners, please contact the company.