MIAMI, July 01, 2019 (GLOBE NEWSWIRE) -- ClareMedica Health Partners, LLC one of Florida’s premier health care organizations focused on the delivery of primary care to seniors, announced today that it has received a majority equity investment from Beecken Petty O’Keefe & Company, a leading Chicago-based private equity firm focused exclusively on the health care industry. The transaction is effective immediately and financial terms were not disclosed.
“ClareMedica was founded on the philosophy of putting the patient first,” stated Roberto Palenzuela, Chief Executive Officer of ClareMedica. “If done right, the by-product of this philosophy is a great business model and the team at BPOC share our vision in this regard. They are a strong financial partner with a keen understanding of the Medicare space and we are delighted to be included in their mix of portfolio companies.” Palenzuela continued, “The equity investment from BPOC now sets the stage for a series of practice acquisitions that the company is contemplating which we expect will expand our market footprint throughout the State of Florida.”
“As the Medicare eligible population continues its high-growth trajectory, finding delivery-of-care platforms designed specifically for this demographic is becoming more and more challenging. We have been following the progress of ClareMedica since its foundation and believe it has all the elements required to address this growing market, both at a state and national level,” commented Peter Magas, Partner at BPOC. “We look forward to partnering with the ClareMedica team and supporting the company’s long-term growth objectives,” he concluded.
Kirkland & Ellis LLP served as legal advisor to Beecken Petty O’Keefe & Company.
ClareMedica was represented in the investment transaction by the law firm of Greenberg Traurig, LLP. The Greenberg Traurig transaction team, led by David Wells, also assisted ClareMedica with numerous primary care practice acquisitions and capital raising since its inception.
JMP Securities LLC served as exclusive financial advisor to ClareMedica in connection with the transaction.
About ClareMedica Health Partners
ClareMedica is a growing health care company that provides and coordinates comprehensive health care services for Medicare Advantage, Medicaid, and other customers through a network of employed and affiliated physicians. We deliver accountable care for all health care stakeholders by employing a patient-centric care model that adds value and provides solutions for a changing health care industry. Our network has over 70 providers and continues to grow. To learn more about ClareMedica Health Partners, LLC, please visit the company’s website at www.claremedica.com.
About Beecken Petty O’Keefe & Company
Beecken Petty O’Keefe & Company is a Chicago-based private equity management firm founded in 1996 to invest in middle-market buy-out transactions, recapitalizations, and growth platforms in the healthcare industry. BPOC has structured, managed and realized investments on behalf of institutional and individual investors for over two decades. Since inception, BPOC has raised four funds with aggregate capital commitments of over $1.3 billion. www.bpoc.com
