Varsity Healthcare Partners, a US-based healthcare private equity firm, has acquired Surgical Affiliates Management Group Inc. (SAMGI), an American provider of surgical hospitalist programs to acute-care hospitals. The deal closed on April 14, 2020, and was announced on December 31, 2020, with Summit Partners and Triple Tree advising Varsity Healthcare Partners.
| Acquirer | Varsity Healthcare Partners (US) |
|---|---|
| Target | Surgical Affiliates Management Group Inc. (SAMGI) (US) |
| Value | Undisclosed |
| Type | Acquisition |
| Date Announced | December 31, 2020 |
| Date Closed | April 14, 2020 |
| Buy-side Advisors | Summit Partners, Triple Tree |
| Sell-side Advisors | Not Disclosed |
| Legal Buy-side Advisors | WilmerHale, Dorsey & Whitney |
| Legal Sell-side Advisors | Not Disclosed |
Deal Mechanics
The transaction details remain undisclosed. Varsity Healthcare Partners was represented by Summit Partners, a leading global venture capital and growth equity firm, as well as by investment banking advisory firm Triple Tree. Legal counsel for the acquiring entity included law firms WilmerHale and Dorsey & Whitney.
Strategic Rationale
The rationale behind this acquisition lies in Varsity Healthcare Partners' desire to bolster its portfolio with SAMGI's hospitalist programs, which aim to provide surgical coverage for acute-care hospitals.
Financial Context
With the deal value undisclosed and no specific financial terms mentioned, further details about the transaction's monetary aspects remain unavailable. The absence of disclosed key terms such as debt financing or equity stake specifics limits additional insights into Varsity Healthcare Partners' strategic and financial motives beyond the stated rationale.
Advisors
The acquisition involved Summit Partners, a global venture capital firm, and Triple Tree, an investment banking advisory firm. Legal representation for the buy-side was provided by law firms WilmerHale and Dorsey & Whitney.
Outlook
The acquisition of SAMGI is expected to position Varsity Healthcare Partners more prominently within the healthcare sector, leveraging SAMGI's expertise in surgical hospitalist programs. With the growing demand for such services in acute-care hospitals, this move could offer significant strategic and operational benefits.