Ascend Capital Partners in New York has announced an equity investment in Allied Physicians Group, an independent provider of pediatric care, and Adjuvant.Health, a provider of physician-led medical practice administration.
The investment will help Allied and Adjuvant.Health, both of which are headquartered in Melville, expand more deeply into comprehensive primary care services, and extend the reach and depth of preventive, acute and chronic care management for patients.
The details of the investment were not disclosed.
“Allied Physicians Group and Adjuvant.Health have been successful because they recognize that efficient, technology-driven care and practice administration improve the patient-physician relationship and optimize health outcomes,” Dr. Richard Park, managing partner of Ascend Capital Partners, said in a statement.
“We look forward to supporting their continued efforts to improve access and affordability, while delivering quality patient care,” Park added.
Ascend Capital is a healthcare-focused private equity partnership that invests in communities and entrepreneurs that improve healthcare access, affordability and quality for the vulnerable and underserved. Allied comprises more than 35 primary care offices across the New York market, with 150 clinicians who see more than 180,000 patients. Adjuvant.Health provides medical practices with consultative services including administrative consulting, marketing, practice services, information technology as well as culture and leadership training.
“We are excited to be working with Ascend Capital Partners and CareAbout’s highly experienced management team to grow our footprint, expand the services we offer and improve the delivery of care,” Dr. Kerry Frommer Fierstein, CEO of Allied Physicians Group and Adjuvant.Health, said in a statement.
“As organizations, we collectively share a similar mission of improving healthcare access, affordability, and quality, which will enable us to continue to operate in a way that empowers our physicians and lets us put our patients’ needs first,” she added.
As part of the investment, CareAbout, a management services organization that is affiliated with Ascend Capital Partners, will partner with Adjuvant.Health to improve healthcare delivery and clinical quality