USACS physicians bought out Alteon private equity shareholders and will issue USACS ownership to hundreds of Alteon physicians
CANTON, Ohio, February 1, 2022 – US Acute Care Solutions (USACS), a national leader in physician-owned emergency medicine, hospitalist, observation and critical care services announced today that it has acquired Alteon Health (Alteon) from its private equity shareholders.
Hundreds of Alteon physicians will become USACS physician owners, and together the two companies will form a leading physician-owned provider of integrated- and post-acute care medicine, serving approximately nine million patients annually in more than 500 hospital-based and post-acute programs in 28 states.
USACS Executive Board Chairman Dominic J. Bagnoli, MD, FACEP, FAAEM, said, “We formed USACS to create a company that would provide a perpetual physician ownership model in order to deliver world-class care to our patients. That ownership model is thriving, and we couldn’t be more excited to welcome 450 new physician owners to our organization.”
“Our scaled physician-partnership is unique in our industry. It is a clear differentiator for us, and it has enabled us to deliver high quality patient care and develop strong, longstanding relationships with our hospital system clients,” said USACS Chief Executive Officer James Frary. “With Alteon on our team, we will further strengthen our existing partner relationships and expand with new key health systems.”
Alteon Chief Executive Officer Steve Holtzclaw, MD, MBA, FACEP, said, “As a physician-founded, physician-led organization committed to building exceptional clinical careers, we are excited about the transition to an ownership model for our physicians. We are equally excited to join forces with USACS to provide the highest quality care to our shared patients and meet the goals of our health system and post-acute partners.”
Sidley Austin LLP and Epstein, Becker & Green served as legal counsel to USACS, and Barclays and Deutsche Bank served as financial and strategic advisors. Greenberg Traurig served as legal counsel to Alteon, and Greenhill served as financial and strategic advisor.
Founded by emergency medicine and hospitalist 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 seven million patients annually across more than 300 programs and is aligned with many of the leading health systems in the country.
With more than 1,300 clinicians serving approximately 200 practice locations nationwide, Alteon is a leading provider of emergency medicine, hospitalist medicine, critical care, post-acute care and virtual and home health services. The physician-led practice is equipped with 50 years of experience in providing high-quality, industry-leading and patient-focused care in diverse medical markets.
Corporate Communications Department
US Acute Care Solutions