Provident Healthcare Partners Advises Sunshine Radiology in Transaction with Envision Healthcare
BOSTON and LOS ANGELES, Jan. 10, 2017
BOSTON and LOS ANGELES, Jan. 10, 2017 /PRNewswire/ — Provident Healthcare Partners is pleased to announce that its client, Sunshine Radiology, LLC (“Sunshine”), has completed a transaction to join Envision Healthcare. Sunshine is a leading subspecialized radiology group in Central Florida currently providing services to nine hospitals, eight breast centers, and one hospital-owned outpatient imaging center in the greater Tampa marketplace. Provident Healthcare Partners (“Provident”) served as exclusive financial advisor to Sunshine Radiology.
In discussing this transaction, Provident’s Michael Mahoney stated, “It was an absolute pleasure to represent Sunshine Radiology through this process. The organization has established an impeccable reputation for providing high-quality radiology services to its hospital partners within the Florida Hospital System, and with Envision Healthcare, Sunshine’s physicians and management team have found a partner that will help the group continue to thrive as interpretation volumes grow.”
Founded in 2008 by Dr. David Rippe, Dr. Ronald Prati, and Roberta Cove, Sunshine is comprised of 35 board-certified radiologists and is the exclusive provider of professional radiology services to Florida Hospital West Region, which is a division of Adventist Health System.
“Having each worked within the Florida Hospital System for 25+ years, the founding of Sunshine Radiology in many ways represented the culmination of our careers for Dr. Rippe, Dr. Prati, and myself. Given the deeply personal ties to the group and our health system, it was paramount for us to enter into this transaction process with the best possible guidance from an investment banking firm that not only understood mergers and acquisitions, but also appreciated the unique intricacies of physician groups and our sentiments as founders,” commented Roberta Cove, CEO of Sunshine. “Provident exceeded all expectations, and we could not be more pleased with the result of the transaction.”
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for middle-market healthcare companies. Within physician services in particular, Provident has successfully closed over 20 transactions on behalf of physician group clients since the beginning of 2015. The firm has a vast network of high-level, senior industry contacts, a thorough knowledge of market sectors and specialties, and unsurpassed experience and insight into the M&A process. Provident uncovers value and opportunities that others often overlook to create transaction premiums for its clients. For more information, visit the Provident website www.providenthp.com.
Provident Healthcare Partners
Gina Casiello, Senior Analyst
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SOURCE Provident Healthcare Partners