May 27, 2021
InTandem Capital Partners, LLC (“InTandem Capital”), a healthcare services focused private equity firm and its affiliated fund, InTandem Capital Partners Fund II, LP, has completed a growth equity investment in Reproductive Partners Medical Group (“RPMG”), a group of Southern California fertility clinics lead by industry pioneers. This follows InTandem Capital’s investment in San Diego Fertility Clinic (“SDFC”) in February, and results in the creation of a leading West Coast fertility services platform. The companies rank among the top reproductive medical centers in the United States. Cascadia Capital was the exclusive advisor to both RPMG and SDFC.
One of the dominant 21st-century trends in middle-market healthcare M&A has been the combination of standalone physician practices onto single management platforms—what is known as Physician Practice Management, or PPM. Fertility groups are currently at the leading edge of a new wave of PPM, a market trend we covered in detail in a recent article, Investor Interest Surges with Third Wave of Physician Practice Management Consolidation.
For over 20 years, RPMG has been a national leader in the treatment of infertility with fertility centers throughout Southern California. In its pursuit of developing a strategy to create a leading fertility organization, InTandem viewed RPMG and its talented team of physicians as an ideal addition to its growing fertility services platform.
“Success in life is having the right partner,” said Bill Yee, MD. “I am confident InTandem Capital is the right business partner for us as we begin our next phase of growth. They support our vision, believe in our values, and we share the same culture. Not only will they help us achieve our strategic goals, but we will have fun doing this together.”
“The fertility space has gone through tremendous change in the past year and there is a compelling opportunity to build a new platform in the space,” added Kevin Cable, Managing Director and Head of Cascadia Capital’s Healthcare group. “InTandem brings vast experience in the space and has a vision for how to leverage the synergies between RPMG and SDFC. The Cascadia healthcare team has been working very closely with Dr. Yee and his talented team of physician partners and executive staff throughout this transaction process. We are thrilled to see RPMG find a partner in InTandem Capital who is as committed as they are in the delivery of medical excellence.”
Cascadia Capital’s Healthcare team has been incredibly active this year so far. This is the fifth client transaction closed since January 2021. Prior transactions include Tegria’s acquisition of Cumberland, InTandem’s partnership with SDFC, the acquisition of SonicBoom by Premise Health and the sale of Mimic Technologies to Surgical Science.
For more information about this transaction or the trends driving activity in the Healthcare sector, please contact a member of Cascadia Capital’s Healthcare investment banking group:
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