US Acute Care Solutions (“USACS”), a national leader in emergency medicine and hospitalist services, today announced a partnership with Emergency Physicians at Porter Hospitals, P.C. (“EPPH”), a Denver-based emergency physician practice that staffs facilities for Centura Health, the region’s healthcare leader.
“We are thrilled to have EPPH join EMP as co-founders of U.S. Acute Care Solutions. They are a highly regarded practice with exceptional quality and a strong partnership mentality, and we look forward to working together as partners to build and grow our company,” said Dr. Dominic Bagnoli, CEO of USACS. “We also believe that EPPH joining USACS is a great indication of the growing interest in our new model, which combines majority physician ownership with outstanding nationwide clinical and operating capabilities.”
“As a democratic physician group, EPPH is excited to join the unique platform that USACS is building,” said Dr. Mark Prather from EPPH. “It was critical for us to become part of an organization where we would continue to be owners, to provide excellent patient-centered care and to be closely aligned with our hospital partners.”
As a USACS co-founder, EPPH physicians will all become shareholders of USACS and remain highly involved in the governance and clinical leadership of their practice. Said Dr. Prather: “We are not just employees, we are owners. That has always made a big difference in both culture and performance. No one else in the market is doing this.”
EMP and capital partner, Welsh, Carson, Anderson & Stowe, created USACS, a physician-led company and market alternative where practices and hospital systems can partner to build both their businesses and a national platform with the resources, business support and capital of a substantial enterprise. The USACS and EPPH partnership agreement, which has been approved by the shareholders of EPPH, is subject to customary closing conditions, and is expected to close by year-end.
Ropes & Gray LLP served as legal counsel to USACS. Quadriga Partners is acting as the financial advisor to EPPH, and Brownstein Hyatt Farber Schreck, LLP is serving as its legal counsel.
Established in May 2015 by Emergency Medicine Physicians and Welsh, Carson, Anderson & Stowe, USACS is focused on becoming the national leader in emergency, hospitalist and observational medicine. USACS offers emergency medicine and hospitalist practices a strategic partnership as well as the clinical resources, business support infrastructure and capital backing required to be successful. USACS’ 900 physicians and 300 advanced practice providers deliver high quality emergency care to over 2.7 million patients each year at more than 70 hospitals in leading healthcare systems across the country.
Formed in 1987, EPPH is a leading provider of outsourced emergency medicine services in Denver, Colorado. EPPH serves as the exclusive provider for five facilities in the Centura Health system. One of the largest physician groups in the region, EPPH treats more than 100,000 adult and pediatric patients.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries: healthcare and information/business services. Since its founding in 1979, the firm has organized 16 limited partnerships with total capital of $23 billion. The firm is currently investing Welsh, Carson, Anderson & Stowe XII, L.P. See www.welshcarson.com to learn more.