Health systems have bought independent practices in orthopedics, family medicine, women’s health and dermatology this fall. One of the deals came out of a bankruptcy auction, and another is being challenged in court.
Here are five deals involving an independent practice acquired by a health system that Becker’s has reported on since Sept. 1:
1. Cleveland Clinic will acquire Youngstown, Ohio-based Youngstown Orthopaedic Associates, and the practice will join the system Nov. 1. The practice signed a nonbinding letter of intent in June to sell its assets to Cleveland Clinic, according to a lawsuit filed Oct. 1 in Mahoning County Common Pleas Court. In that suit, Boardman, Ohio-based Southwoods Health is seeking to block two of the practice’s partners from taking part in the deal.
2. Harrisonburg, Va.-based Harrisonburg Family Practice has been acquired by Fishersville, Va.-based Augusta Health. The seven-physician practice has served the Harrisonburg community for 50 years. It provides family medicine for patients of all ages, along with lab services, women’s healthcare, in-office procedures and Saturday hours. It will keep its name and location through a transition period and is expected to be integrated into Augusta Medical Group by June 2027.
3. Philadelphia-based Thomas Jefferson University is set to acquire Pottstown (Pa.) Medical Specialists, a 48-year-old physician-owned group, after the group canceled its bankruptcy auction and named Jefferson the successful bidder. Pottstown Medical Specialists filed for Chapter 11 on Aug. 30 in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania. It signed an asset purchase agreement with Jefferson the same day. The agreement covers Jefferson and its controlled affiliates, including Lehigh Valley Physician Group. Jefferson also served as the group’s lender during the bankruptcy. Under the agreement, Jefferson can count the money owed on that loan toward the purchase price, known as a credit bid.
4. Schenectady, N.Y.-based Ellis Medicine has acquired CareNet Medical Group, an independent women’s health and OB-GYN practice that has served the Capital Region since 1983. CareNet’s four physicians and one physician assistant, previously based in Niskayuna and Clifton Park, both in New York, are relocating to existing Ellis Medicine facilities as part of the transition, and patients will keep their current appointments, care plans and providers. Terms of the deal were not disclosed.
5. Rochester Regional Health has acquired Rochester Dermatologic Surgery in Victor, N.Y., adding general dermatology and Mohs surgery capacity in the Finger Lakes. The practice is now Rochester Regional Health Dermatology & Mohs Surgery — Victor, effective Sept. 2. Physicians Sherif Ibrahim, MD, and William Sipprell, MD, along with nurse practitioner Kelly Demchuk, will stay on staff. Gian Vinelli, MD, is joining the practice as RRH expands its clinical resources and appointment access.
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