Apogem Capital, Churchill Asset Management, Dextra Partners, Future Standard, Abbott Capital, Twin Bridge Capital Partners rolls One Physics LLC into a continuation vehicle

Blue Sea Capital's continuation vehicle for One Physics LLC represents a strategic move to extend its partnership with a leading provider of medical physics services while securing additional capital for future growth. One Physics, headquartered in Towson, Maryland, is the largest outsourced medical physics services organization in North America, serving over 7,000 healthcare client sites across more than 45 states. The continuation vehicle not only provides liquidity to existing investors but also injects significant new capital to support One Physics' acquisition strategy and organic growth initiatives. The transaction underscores Blue Sea Capital's confidence in One Physics’ market leadership and its potential for continued expansion. Since Blue Sea’s initial investment in 2019, One Physics has executed 22 acquisitions, expanding its national footprint while maintaining a deep local presence across the healthcare sector. The company offers a comprehensive suite of services that are mission-critical for regulatory compliance and patient safety, making it an essential partner for hospitals, imaging centers, and cancer care facilities. Competitively, this deal solidifies One Physics' position in the medical physics market, potentially raising barriers to entry for competitors through its extensive network and scale advantages. The additional capital from the continuation vehicle will allow One Physics to accelerate both organic growth initiatives and strategic acquisitions, further consolidating its leadership in a fragmented market characterized by high regulatory requirements and increasing demand for specialized services. Looking ahead, key challenges for One Physics include managing integration costs and cultural differences associated with new acquisitions while maintaining operational efficiency. Additionally, navigating the complexities of healthcare regulations and ensuring continuous quality improvement will be crucial to sustaining growth momentum post-close. With strong institutional backing from Blue Sea Capital and its partners, One Physics is well-positioned to leverage its market position for continued expansion and value creation in the medical physics services sector.