Here are four things to know:
1. Cross Keys’ Managing Director Bill Britton and Vice President Marjorie Change led the transaction.
2. Per the deal, LCAA will join TeamHealth’s efforts to offer medical solutions to nearly 3,500 acute and post-acute facilities and physicians groups.
3. LCAA’s sale to Team Health represents the 47th Physician Group Practice deal Cross Keys completed on behalf of its Physician Group Practice clients.
4. Cross Keys is an independent investment bank which has completed the sale or merger of more than 50 transactions of independent physician group practices, healthcare providers, services and technology companies.
“More than ever before, uncertainty within the healthcare system is driving groups to explore their options and bring in a partner with value-added resources that most groups cannot provide on their own – all the while realizing the equity value they have built up within their practice,” Mr. Britton said. “Quality practices are highly sought by the larger groups, looking to expand or establish their presence in a new market or to strengthen already-existing positions. Valuations remain high but will not stay this way forever, particularly for the markets that have experienced a lot of consolidation.”
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