|Triton Pacific Capital Partners Announce Partnership with Genesis Healthcare Partners as the founding platform in its physician services organization, Urology Partners of America|
|By GLOBE NEWSWIRE|
|Tuesday, 04 May 2021 09:16|
LOS ANGELES, May 04, 2021 (GLOBE NEWSWIRE)
LOS ANGELES, May 04, 2021 (GLOBE NEWSWIRE) -- Triton Pacific Capital Partners, a Los Angeles-based private equity firm, is pleased to announce a partnership with Genesis Healthcare Partners (“GHP”) as the founding platform in its physician services organization, Urology Partners of America (“UPA”).
Genesis Healthcare Partners (https://www.mygenesishealth.com/) is the largest independent urology group on the West Coast, with 34 physicians and 14 advanced practitioners operating out of 15 locations in the greater San Diego area. In addition to a best-in-class clinical program covering three sub-specialties (urology, gastroenterology, and radiation oncology), Genesis has a robust management services organization (“MSO”) with extensive platform infrastructure. GHP also offers numerous ancillary services, most notably a pathology lab, pharmacy, and three radiation oncology sites (including a CyberKnife). Genesis is led by a highly accomplished management team comprising elite physician leadership and seasoned business professionals.
“Genesis is an ideal partner for UPA,” said Joe Davis, Managing Partner and Head of Healthcare at Triton Pacific. “It brings unmatched clinical capabilities backed by a comprehensive suite of management services that will form the foundation of the UPA MSO.”
UPA (https://www.uropartner.com/) is a highly differentiated physician services platform established by Triton Pacific with the goal of transforming urology and gastroenterology care delivery across the Western States. UPA will partner with leading physician practices, creating a cohesive, quality-oriented clinical culture and facilitating best practice sharing across the platform. UPA affiliated practices will gain access to a broader suite of services, providing a meaningful benefit to both physicians and patients. Focusing initially on the fragmented West Coast landscape, UPA will build significant size, scale, and geographic coverage that will enhance the platform’s value proposition to payors. UPA has a deep pipeline, with several other physician groups under LOI.
“UPA represents a unique opportunity to develop a preeminent platform in markets with highly attractive characteristics,” said Marshal Salomon, UPA CEO. “Our goal is to build the business to 200+ physicians within the next few years.”
The UPA management team and Triton Pacific’s extensive track records of building successful healthcare services businesses and physician services platforms provide a compelling advantage to UPA and its constituent groups. Mr. Salomon brings over 20 years of executive leadership experience in multi-site healthcare organizations. He co-founded Vantage Oncology, a provider of high-quality, community-based cancer care with 200+ physician partners and affiliates in 13 states. Mr. Salomon most recently served as CEO of The Oncology Institute, a Southern California-based oncology practice, and previously served as CEO of InterDent, a leading dental services organization. Dr. Edward Cohen, who serves as CEO of Genesis, also joins UPA as President.
“We are excited to partner with UPA and Triton Pacific in the next stage of our evolution,” said Dr. Cohen. “They understand the issues that matter most to physician groups and have a clear vision for the future of the platform.”
Triton Pacific has capitalized UPA with a material capital commitment to fund partnerships with urology and gastroenterology practices across the Western States. Florac, Beach Point Capital Management, and GMB Capital Partners participated in the investment. Terms of the Genesis deal were not disclosed.
About Triton Pacific Capital Partners
Triton Pacific Capital Partners has organized more than 50 private equity investment partnerships and a public, non-traded BDC and has completed 27 private equity transactions. Triton Pacific has a highly focused healthcare investment team with a demonstrated track record of successfully sourcing, acquiring, and managing healthcare investments. UPA is the healthcare team’s ninth platform investment.