Emergency Care Partners Completes Growth Recapitalization in Partnership With MidOcean Partners
Structured Equity Raise Positions the Company for Accelerated Future Growth and Provides Liquidity for Existing Shareholders
PENSACOLA, FLORIDA / ACCESS Newswire / May 27, 2025 / Emergency Care Partners ("ECP" or the "Company"), a leading provider of emergency medicine services for hospitals across the U.S, today announced the closing of a successful growth recapitalization transaction, inclusive of a $100.0 million preferred equity investment led by MidOcean Partners ("MidOcean"). MidOcean's investment will support ECP's strong growth, including strategic acquisitions and the expansion of contracted service relationships with new and existing hospital customers, while providing liquidity to certain ECP physician shareholders.
"Our partnership with MidOcean positions ECP for continued growth, specifically as we look to further our partnership model with like-minded physician groups. As a company, we are always focused on the long-term success of our organization and the well-being of the clinicians who make it all possible. We are excited to expand ECP's presence with our existing health system partners and new hospital relationships while supporting continued investment in exceptional patient care and experience with every partner group and location," said Bill Yarbrough, ECP's Chief Executive Officer.
"ECP has built a highly respected, differentiated, and scalable platform in the emergency medicine space. We are thrilled to be selected by the team and look forward to helping execute an accelerated growth path as they expand their footprint and continue to innovate within the space," said Graham Clempson, Vice Chairman of MidOcean.
Emergency Care Partners currently supports more than 1,100 emergency medicine providers, meeting the needs of 1.5 million annual patient visits across its physician group of 63 clinical locations and is backed by Varsity Healthcare Partners and Regal Healthcare Capital Partners. Varsity Healthcare Partners is a leading Los Angeles-based lower middle-market healthcare services private equity investment firm, and Regal Healthcare Capital Partners is a New York-based lower-middle market healthcare services growth equity and buyout firm.
The terms of the transaction were not disclosed.
Greenhill & Co., a Mizuho affiliate, and Evercore Partners Inc. acted as placement agents, and Greenhill & Co acted as the exclusive financial advisor to the Company in connection with this financing. Morgan Lewis & Bockius LLP acted as legal advisor to ECP.
Gibson Dunn & Crutcher LLP acted as legal advisor to MidOcean.
About Emergency Care Partners (ECP)
ECP is a leading provider of emergency department management services for hospitals across the U.S., with current operations in eight states, treating 1.5 million patient visits annually, and supported by a clinical workforce of 1,100+ physicians and mid-level providers. ECP provides a unique group model, highlighted by equity ownership through its physician partnership. ECP enables local groups to maintain their culture and clinical practice autonomy while benefiting from the organization's significant back-office infrastructure. Follow ECP on Facebook, LinkedIn, Instagram, and X.
About Varsity Healthcare Partners
Varsity Healthcare Partners (VHP) is a leading lower middle-market healthcare services private equity investment firm, targeting exclusively multi-site healthcare provider platforms or businesses providing outsourced services, technology or tools to healthcare providers and/or payers. VHP's tactical investment strategy emphasizes identifying and transacting with growth-seeking, provider-owned or founder-owned companies, leveraging VHP's developed "buy and build" playbook to drive significant operational, managerial enhancement early in the life of each platform investment, followed by a well-resourced aggressive and multidimensional growth plan. VHP's unique tactical investment playbook and strong track record are complemented by VHP's distinct organizational culture, emphasizing highly collaborative engagement, strong professional accountability, and a commitment to excellence in work product and team performance. For more information, please visit www.varsityhealthcarepartners.com.
About Regal Healthcare Capital Partners
Regal Healthcare Capital Partners is a growth equity and buyout firm focused exclusively on healthcare services. Regal's founders and investors include physicians and other providers who have successfully built healthcare companies. Regal partners with successful healthcare entrepreneurs that benefit from the strategic, financial, operational, and managerial expertise, as well as the equity capital that its team and core investor group of healthcare professionals can bring to growing businesses. For more information, visit www.regalhcp.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity, alternative credit, and structured equity. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts. For more information, please visit www.midoceanpartners.com.
SOURCE: Emergency Care Partners (ECP)
press release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
15 minutes ago
- CNN
Federal appeals court to hear arguments in Trump's long-shot effort to fight hush money conviction
Five months after President Donald Trump was sentenced without penalty in the New York hush money case, his attorneys will square off again with prosecutors Wednesday in one of the first major tests of the Supreme Court's landmark presidential immunity decision. Trump is relying heavily on the high court's divisive 6-3 immunity ruling from July in a long-shot bid to get his conviction reviewed – and ultimately overturned – by federal courts. After being convicted on 34 counts of falsifying business records, Trump in January became the first felon to ascend to the presidency in US history. Even after Trump was reelected and federal courts became flooded with litigation tied to his second term, the appeals in the hush money case have chugged forward in multiple courts. A three-judge panel of the 2nd US Circuit Court of Appeals – all named to the bench by Democratic presidents – will hear arguments Wednesday in one of those cases. Trump will be represented on Wednesday by Jeffrey Wall, a private lawyer and Supreme Court litigator who served as acting solicitor general during Trump's first administration. Many of the lawyers who served on Trump's defense team in the hush money case have since taken top jobs within the Justice Department. The case stems from the 2023 indictment announced by Manhattan District Attorney Alvin Bragg, a Democrat, who accused Trump of falsely categorizing payments he said were made to quash unflattering stories during the 2016 election. Trump was accused of falsifying a payment to his former lawyer, Michael Cohen, to cover up a $130,000 payment Cohen made to adult-film star Stormy Daniels to keep her from speaking out before the 2016 election about an alleged affair with Trump. (Trump has denied the affair.) Trump was ultimately convicted last year and was sentenced without penalty in January, days before he took office. The president is now attempting to move that case to federal court, where he is betting he'll have an easier shot at arguing that the Supreme Court's immunity decision in July will help him overturn the conviction. Trump's earlier attempts to move the case to federal court have been unsuccessful. US District Judge Alvin Hellerstein, nominated by President Bill Clinton, denied the request in September – keeping Trump's case in New York courts instead. The 2nd Circuit will now hear arguments on Trump's appeal of that decision on Wednesday. 'He's lost already several times in the state courts,' said David Shapiro, a former prosecutor and now a lecturer at John Jay College of Criminal Justice. And Trump's long-running battle with New York Judge Juan Merchan, Shapiro said, has 'just simmered up through the system' in New York courts in a way that may have convinced Trump that federal courts will be more receptive. Trump, who frequently complained about Merchan, has said he wants his case heard in an 'unbiased federal forum.' Trump's argument hangs largely on a technical but hotly debated section of the Supreme Court's immunity decision last year. Broadly, that decision granted former presidents 'at least presumptive' immunity for official acts and 'absolute immunity' when presidents were exercising their constitutional powers. State prosecutors say the hush money payments were a private matter – not official acts of the president – and so they are not covered by immunity. But the Supreme Court's decision also barred prosecutors from attempting to show a jury evidence concerning a president's official acts, even if they are pursuing alleged crimes involving that president's private conduct. Without that prohibition, the Supreme Court reasoned, a prosecutor could 'eviscerate the immunity' the court recognized by allowing a jury to second-guess a president's official acts. Trump is arguing that is exactly what Bragg did when he called White House officials such as former communications director Hope Hicks and former executive assistant Madeleine Westerhout to testify at his trial. Hicks had testified that Trump felt it would 'have been bad to have that story come out before the election,' which prosecutors later described as the 'nail' in the coffin of the president's defense. Trump's attorneys are also pointing to social media posts the president sent in 2018 denying the Daniels hush money scheme as official statements that should not have been used in the trial. State prosecutors 'introduced into evidence and asked the jury to scrutinize President Trump's official presidential acts,' Trump's attorneys told the appeals court in a filing last month. 'One month after trial, the Supreme Court unequivocally recognized an immunity prohibiting the use of such acts as evidence at any trial of a former president.' A White House spokesperson did not respond to a request for comment. If Trump's case is ultimately reviewed by federal courts, that would not change his state law conviction into a federal conviction. Trump would not be able to pardon himself just because a federal court reviews the case. Bragg's office countered that it's too late for federal courts to intervene. Federal officials facing prosecution in state courts may move their cases to federal court in many circumstances under a 19th century law designed to ensure states don't attempt to prosecute them for conduct performed 'under color' of a US office or agency. A federal government worker, for instance, might seek to have a case moved to federal court if they are sued after getting into a car accident while driving on the job. But in this case, Bragg's office argued, Trump has already been convicted and sentenced. That means, prosecutors said, there's really nothing left for federal courts to do. 'Because final judgment has been entered and the state criminal action has concluded, there is nothing to remove to federal district court,' prosecutors told the 2nd Circuit in January. Even if that's not true, they said, seeking testimony from a White House adviser about purely private acts doesn't conflict with the Supreme Court's ruling in last year's immunity case. Bragg's office has pointed to a Supreme Court ruling as well: the 5-4 decision in January that allowed Trump to be sentenced in the hush money case. The president raised many of the same concerns about evidence when he attempted to halt that sentencing before the inauguration. A majority of the Supreme Court balked at that argument in a single sentence that, effectively, said Trump could raise those concerns when he appeals his conviction. That appeal remains pending in state court. 'The alleged evidentiary violations at President-elect Trump's state-court trial,' the Supreme Court wrote, 'can be addressed in the ordinary course on appeal.'
Yahoo
24 minutes ago
- Yahoo
Biovica Signs Agreement with Fifth Tier-1 US Biopharma Company
UPPSALA, SE / / June 11, 2025 / Biovica International (STO:BIOVIC-B)(STO:BIOVIC.B)(FRA:9II) - Biovica, active in blood-based cancer monitoring, has signed a new Master Service Agreement (MSA) - along with an initial Work Order of ~800 kSEK - with a Tier-1 US-based biopharmaceutical company. The new customer, a global leader in oncology drug development, becomes the fifth Tier-1 US biopharma company to join Biovica's Pharma Services customer base. The agreement covers testing of Phase 1 clinical trial samples in support of the development of next-generation CDK4/6 inhibitors and is a pilot study with DiviTum® TKa. " This marks a milestone in our growing customer base, highlighting the increasing relevance of Biovica's TKa biomarker assay in advanced cancer therapy development. It demonstrates the strong and growing recognition of the value our assay brings to the development of next-generation oncology treatments that ultimately benefit cancer patients. ," said Anders Rylander, CEO of Biovica. Contact Anders Rylander, CEOPhone: +46 76 666 16 47E-mail: Anders Morén, CFOPhone: +46 73 125 92 46E-mail: Biovica - Treatment decisions with greater confidence Biovica develops and commercializes blood-based biomarker assays that help oncologists monitor cancer progression. Biovica's assay, DiviTum® TKa, measures cell proliferation by detecting the TKa biomarker in the bloodstream. The assay has demonstrated its ability to provide insight to therapy effectiveness in several clinical trials. The first application for the DiviTum® TKa test is treatment monitoring of patients with metastatic breast cancer. Biovica's vision is: "Improved care for cancer patients." Biovica collaborates with world-leading cancer institutes and pharmaceutical companies. DiviTum® TKa has received FDA 510(k) clearance in the US and is CE-marked in the EU. Biovica's shares are traded on the Nasdaq First North Premier Growth Market (BIOVIC B). FNCA Sweden AB is the company's Certified Adviser. For more information, please visit: Attachments Biovica signs agreement with fifth Tier-1 US biopharma company SOURCE: Biovica International View the original press release on ACCESS Newswire Sign in to access your portfolio
Business Insider
24 minutes ago
- Business Insider
Qantas is pulling the plug on Jetstar Asia — and 500 jobs
Qantas is shutting down Jetstar Asia, its Singapore-based budget carrier, blaming rising operating costs and a crowded market. The budget airline will cease operations on July 31 after more than two decades. Jetstar Asia will continue flights until then on a "progressively reduced schedule," Qantas said in a statement on Wednesday. "Despite delivering exceptional customer service and operational reliability, Jetstar Asia has been impacted by rising supplier costs, high airport fees, and intensified competition in the region," the Australian company said. Jetstar Asia flies 16 routes from Singapore to destinations in Malaysia, Thailand, Indonesia, Japan, the Philippines, China, Sri Lanka, and Australia. Jetstar operations in Australia, New Zealand and Japan will not be affected. Customers booked on canceled flights will be offered full refunds, and Qantas will try to move them to other airlines where possible. The shutdown will also result in the loss of more than 500 jobs, a Jetstar Asia spokesperson told Business Insider. Affected employees will be given redundancy benefits and assistance with other roles within Qantas and other airlines. Qantas added that 13 Jetstar Asia Airbus A320 aircraft will be progressively redirected to Australia and New Zealand. Qantas did not immediately respond to a request for comment. Competition among budget carriers in Southeast Asia was "brutal," Alan Tan, a professor specializing in aviation law at the National University of Singapore's Law School, told Business Insider. "The departure is a great loss from the viewpoint of price and service competition for travellers," he said. Virgin Australia IPO The closure comes on the same day that Virgin Australia announced its intention to list on the stock market in Sydney on June 24. The shares will be priced at A$2.90, raising A$685 million and valuing the company at A$2.3 billion. The IPO will allow some existing investors, including Bain Capital, Qatar Airways Group, and the Virgin Group, to realize part of their holdings. Investors participating in the offer are expected to hold about 30% of shares on issue, with the remainder being held by existing investors. Virgin carries about 20 million passengers a year on more than 100 aircraft. It operates 76 routes to 38 destinations across its domestic and short-haul international airline business. From next week it will start long-haul international services between Australia and Doha in partnership with Qatar Airways, which has a 25% stake in Virgin. Budget model is 'dead' United Airlines CEO Scott Kirby earlier this month criticized the budget airline model and called it "crappy." He told the "Future of Everything" event that the low-cost carrier model was "dead." "The model was screw the customer," he said. "It was like trick people, get them to buy, and get them to come, and then charge them a whole bunch of fees that they aren't expecting … disclosures buried in legalese," he continued. "Their problem is they got big enough that they needed repeat customers. They don't get them." His comments came the same day that United announced a new partnership with JetBlue, which some consider to be a budget carrier.
