“As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led,” said DMG CEO Mike Kasper. As part of its investment, Ares also acquired Summit Partners’ stake in DMG Practice Management Solutions, and Summit will exit as an investment partner. Under the terms of the transaction, DMG’s physician group, DuPage Medical Group Ltd., will remain 100% physician-owned-and-directed, and DMG physicians will retain a significant ownership stake in the practice management company. The $1.45 billion transaction closed on August 15, 2017. The investment by Ares will enable continued support for growth initiatives across the entire organization, including DMG’s practice management company, DMG Practice Management Solutions, and DMG’s subsidiary, Boncura Health Solutions. (NYSE:ARES), the global alternative asset management firm. More importantly, we are well positioned to expand and enhance our management service offerings and continue providing our patients the highest quality care.By a News Reporter-Staff News Editor at Investment Weekly News - DuPage Medical Group, one of the nation’s largest independent, multi-specialty physician groups, announced the closing of a strategic partnership with funds managed by the private equity group of Ares Management, L.P. "Our partnership with Ares will allow us to maintain our physician-oriented culture and clinical autonomy. Paul Merrick, President and Chairman of DMG. “We are extremely excited to welcome Ares as our partner, as DMG continues to grow to become the best group for all physicians and patients both within the Chicago area as well as nationally,” commented Dr. This growth will allow DMG to enhance its integrated outpatient delivery model and further enhance its efforts to provide quality, efficiency and access to patients. Kasper specified that DMG patients should expect to see additional service lines, sites of care and physicians as a result of the partnership. We believe this endeavor will ultimately enhance our ability to reach and treat patients.
This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG’s growth initiatives, such as population health, expansion into new geographies and additional service offerings. “Ares understands and supports our core mission, which is to maintain and enrich our patient-focused, doctor-directed culture.
(NYSE: ARES), the global alternative asset management firm.
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Claim your 1-week free trial to StreetInsider Premium here.ĭuPage Medical Group, one of the nation’s largest independent, multi-specialty physician groups, announced the closing of a strategic partnership with funds managed by the private equity group of Ares Management, L.P. Get instant alerts when news breaks on your stocks.
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