CANTON, Ohio & DENVER--(BUSINESS WIRE)--US Acute Care Solutions (USACS) today announced APEX Emergency Services (APEX) has entered into a definitive agreement to join the national leader in emergency medicine and hospitalist services as a founding partner.
Founded by emergency medicine physician groups in Colorado, Florida, Maryland and Ohio, and capital partner Welsh, Carson, Anderson, & Stowe, USACS is committed to the principle that the best patient care and the best hospital partnerships result when physicians maintain majority ownership and management of their practice. APEX shares this belief and joins USACS as a founding partner.
APEX Emergency Services’ emergency medicine clinicians provide care to nearly 150,000 patients annually through five hospital and four freestanding emergency departments. With this partnership in place, USACS now serves approximately 250,000 patients annually in 14 locations in Colorado.
“APEX is an outstanding group of clinicians who value physician ownership and management as the key to compassionate and efficient patient care,” said Dominic J. Bagnoli MD, CEO, USACS. “With significant market penetration in Denver, both our hospital partners and community members will be better served.”
“We are excited and optimistic about joining USACS as a founding partner,” said Robert Schmidt, MD, CEO, APEX Emergency Group. “Physician-owned emergency medicine groups often face the dilemma of hospital ownership or acquisition by a publicly traded operation. USACS is an exciting and ambitious alternative.”
Sean Bender MD, CFO, APEX, said, “This is a great outcome for our group because APEX physicians will remain partners in our practice and become shareholders of USACS, gaining access to the resources and support required to continually improve our patient care and hospital partnerships.”
This partnership agreement, which has been approved by the shareholders of APEX, is subject to customary closing conditions, and is expected to close in the second quarter.
About USACS
Founded by emergency medicine physician groups in Colorado, Florida, Maryland and Ohio and capital partner Welsh, Carson, Anderson & Stowe, USACS is the national leader in physician-owned emergency medicine and hospitalist services. USACS provides high quality emergency and hospitalist care to almost 4 million patients annually at nearly 120 locations in 22 states, and is aligned with leading hospital systems across the country. Visit www.usacs.com to learn more.
About APEX Emergency Services
APEX Emergency Services is a physician-owned emergency medicine group based in Denver, Colorado. APEX serves four hospitals in Denver’s prestigious Centura system, four freestanding emergency facilities and one hospital emergency department in Kansas. APEX clinicians treat nearly 150,000 patients annually.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries: healthcare and information/business services. Since its founding in 1979, the firm has organized 16 limited partnerships with total capital of $23 billion. The firm is currently investing Welsh, Carson, Anderson & Stowe XII, L.P. See www.welshcarson.com to learn more.
