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US Heart & Vascular Announces Partnership with HeartPlace, one of the Largest Cardiovascular Groups in the United States
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
US Heart & Vascular (USHV) has announced a partnership with HeartPlace, the largest physician-owned cardiology practice in Texas. This marks USHV's sixth partnership in Texas and its first in the Dallas-Fort Worth area. The collaboration aims to enhance patient care and reduce healthcare costs, aligning with USHV's vision of supporting independent cardiovascular practices. HeartPlace, founded in 1967 and currently comprising 70 clinicians, seeks to expand its reach beyond North Texas and improve cardiovascular health outcomes. The financial terms of this transaction, which closed on March 31, 2023, were not disclosed. USHV continues to pursue new partnerships across the U.S., further strengthening its network of independent cardiology practices.
Positive
Partnership with HeartPlace enhances USHV's presence in Texas.
HeartPlace is a well-established group with 70 clinicians, contributing to USHV's growth.
USHV's strategy focuses on reducing costs and improving patient care through partnerships.
Negative
None.
The HeartPlace partnership represents USHV’s 6th in Texas and 1st in Dallas-Fort Worth.
NASHVILLE, Tenn.--(BUSINESS WIRE)--
US Heart & Vascular (“USHV”), a leading national provider of support services to cardiovascular physician practices, has partnered with HeartPlace (“HeartPlace”), the largest physician-owned cardiology practice in Texas, focused on all aspects of cardiovascular care.
“We are thrilled to welcome HeartPlace, the premier independent cardiovascular practice in Texas, to the USHV family. US Heart and Vascular continues to support patient-centric, physician-led practices that are dedicated to delivering exceptional patient outcomes,” said Chris Krubert, M.D., Executive Chairman of USHV.
With a growing footprint of partners, a strong management team, and backing from funds managed by the Private Equity Group of Ares Management (“Ares”), USHV is building the premier, physician-led destination for independent cardiovascular providers to improve patient care delivery and reduce costs to the healthcare system. With an expanding foundation of partners in Arizona, Texas, and Kansas, USHV is actively seeking new partnerships with quality practices and entrepreneurial cardiovascular physicians across the country.
“We are excited about our partnership with USHV, as it empowers us to continue realizing our vision of being a premier cardiovascular practice delivering the highest quality care today,” said Rick Snyder, M.D., President of HeartPlace. “As the largest independent group in Texas, we are committed to healthcare excellence that is timely and compassionate and rooted in our dedication to advanced, cutting-edge technology and innovative reimbursement service methods. By partnering with USHV, we are now a strategically positioned independent practice with the tools, expertise, and scale to grow. We look forward to expanding our reach beyond North Texas and working together to improve cardiovascular health outcomes for our patients,” Rick continued.
"The addition of HeartPlace to the USHV physician family, alongside our existing Houston practices, is critically important as we grow our service offering in Texas and across the country. HeartPlace is 100% aligned with our vision of delivering patient-centric, innovative care that will help USHV advance the implementation of value-based care models in cardiology," said Mike Englehart, Chief Executive Officer of USHV.
The financial terms of the transaction were not disclosed. The transaction officially closed on March 31, 2023.
About USHV
Formed in 2021 and headquartered in Nashville, TN, US Heart & Vascular is a leading, national provider of support services to cardiovascular physician practices. USHV focuses on enabling independent cardiologists to thrive and grow by improving patient care and reducing costs to the healthcare system. USHV accomplishes its mission by building collaborative partnerships with the best cardiovascular specialists and providing them with the non-clinical resources they need to deliver optimal care to their patients and communities. USHV has partnerships with eight practices in Arizona, Texas, and Kansas. USHV is actively pursuing new physician partnerships across the U.S.
About HeartPlace
Founded in 1967, HeartPlace is one of the largest independent cardiovascular groups in the United States. From its small beginning in Dallas, HeartPlace has grown to 70 clinicians throughout Dallas-Fort Worth. During this time, HeartPlace has been an innovator in the delivery of cardiovascular care to North Texas. It has also been among the first to offer procedures, including coronary and vascular angiography, angioplasty, and stenting. In addition, HeartPlace physicians have been on the cutting edge in advancements in heart failure, valvular heart disease, electrophysiology, and cardiac imaging. This dedication to innovative tools, techniques, and procedures has guaranteed patients the latest and most up-to-date cardiovascular services available.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. They seek to provide flexible capital to support businesses and create value for their stakeholders and within their communities. By collaborating across their investment groups, they aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2022, Ares Management Corporation's global platform had approximately $352 billion of assets under management, with approximately 2,500 employees operating across North America, Europe, Asia Pacific and the Middle East.
