Westcove Advises Bay Area Cardiology Associates P.A. in its Partnership with Cardiovascular Associates of America
LOS ANGELES, CA – May 4, 2023 – Westcove Partners LLC (“Westcove”), a highly specialized investment bank, announced that it acted as the exclusive financial advisor to Bay Area Cardiology Associates P.A. (“Bay Area Cardiology” or the “Company”) in its partnership with Cardiovascular Associates of America (“CVAUSA”), a portfolio company of Webster Equity Partners. Founded in 1991, Bay Area Cardiology Associates has established itself as a leading cardiology practice for patients in the Tampa Bay area. The Company prides itself on providing high–quality, patient-centric care through a broad range of comprehensive cardiovascular services including vascular ultrasounds, echocardiograms, cardiac CT, and more. The Company has an experienced clinical team consisting of 21 providers; 15 physicians, and six nurse practitioners. The Company’s clinical team is supported by 68 employees across four locations in Brandon, Sun City Center, Riverview, and East Tampa. All of Bay Area Cardiology’s state-of-the-art locations are strategically located to serve Tampa Bay and its surrounding communities. The terms of the transaction were not disclosed. Westcove’s deal team included Justin Hand, Managing Director; Abe M’Bodj, Director; Shan Chawla, Vice President; and Rebecca Phuong, Associate.
Bay Area Cardiology provides several ancillary services including clinical research, fellowship and residency programs, and PCI and STEMI services at the local health systems in Tampa Bay. The Company has conducted over 120 clinical research studies since its inception and has helped drive cardiovascular studies internationally. The Company’s physicians also lead several fellowship and residency programs with the local health systems to continue to share knowledge and best practices with future cardiologists.
Dr. Stephen Mester, Vice President of Bay Area Cardiology, stated, “We could not be happier to join CVAUSA and further serve our community. We are grateful for Westcove’s direction throughout this process. The Westcove team was professional, knowledgeable, and integral in the success of this transaction.”
“It’s a tremendous honor to partner with the outstanding physicians and staff at Bay Area Cardiology and Vascular Associates. They are ‘the’ leading cardiovascular group in the greater Tampa Bay area,” said Tim Attebery, Chief Executive Officer, CVAUSA.
Abe M’Bodj of Westcove comments, “It has been a pleasure working with Bay Area Cardiology on this process. The Company is well-established and has a strong reputation in Tampa as well as the surrounding areas. We believe the partnership between Bay Area Cardiology and CVAUSA will further strengthen its presence in Florida and beyond.”
About Bay Area Cardiology Associates P.A.
Bay Area Cardiology Associates P.A. is a cardiovascular group practice located in Tampa, Florida. The Company consists of fifteen cardiologists and four state-of-the-art locations that provide high-quality care and convenience for patients across the region. All Bay Area Cardiology physicians are board-certified in cardiovascular diseases and provide diagnostic and customized treatment services for a wide range of cardiovascular conditions. For more information, visit www.bayareacardiology.net.
About Cardiovascular Associates of America
Headquartered in Orlando, Florida, Cardiovascular Associates of America aims to bring the best cardiovascular physicians into one network with the common mission of saving lives, reducing costs, and improving patient care through clinical innovation. Through CVAUSA’s physician-centered practice management model, physicians drive clinical care and their practice culture, while benefiting from the business expertise and shared resources available through CVAUSA. For more information, please visit www.cvausa.com.
About Webster Equity Partners
Founded in 2003, Webster Equity Partners invests in healthcare services companies with high-impact growth strategies that deliver the highest quality care and extraordinary service. Webster has $6.8 billion in assets under management and has completed more than 200 platform and add-on investments over the firm’s history. For additional information on Webster Equity Partners, please visit www.websterequitypartners.com.
Westcove Partners is a leading healthcare-focused investment bank that specializes in advising its clients through mergers & acquisitions, debt and equity financing, as well as other complex corporate finance transactions. The team focuses on founder-operated businesses and seeks to curate its advisory services according to the intricacies that come with these types of businesses.