Westcove Advises Nextera Healthcare in its Partnership with Shore Capital Partners
LOS ANGELES, CA – November 17, 2023 – Westcove Partners, LLC (“Westcove”), an emerging and highly specialized investment bank, announced that it acted as the exclusive financial advisor to Nextera Healthcare (“Nextera”) in its partnership with Shore Capital Partners (“Shore”). The terms of the transaction were not disclosed. Westcove’s deal team included Justin Hand, Managing Director; Abe M’Bodj, Director; Bill Bolding, Vice President; Scott Schulkin, Vice President; and Andrew Nguyen, Analyst; Nextera’s legal representation was Berg Hill Greenleaf Ruscitti, LLP.
Nextera, a Colorado-based direct-to-employer primary care services provider, was founded in 2009 with a mission to change the way primary care was delivered through its membership-based direct primary care model. Through its six branded clinics across Colorado and its network of affiliated direct primary care practices across the United States, Nextera has developed a strong brand that is recognized for its reputation towards a commitment to providing high-quality care to patients while simultaneously driving down the cost of healthcare.
Clint Flanagan, M.D., Founder and Chief Executive Officer of Nextera, said “Westcove played an instrumental role in getting us to a successful close as they were able to manage a robust process and communicate our value proposition to the market. We are very appreciative of their expertise, skills, and knowledge throughout the process, and we are really looking forward to the next chapter of our organization with Shore.”
Scott Schulkin, Vice President of Westcove, commented “We knew Nextera would attract significant interest from the market given the company’s passion and dedication to transforming the delivery of healthcare services. We thoroughly enjoyed working with the Flanagans throughout the process and expect great things in their new partnership with Shore.”
“We couldn’t be happier to play a role in helping Nextera find the right partner with Shore as they continue to grow and become one of the leading providers within direct primary care, and are excited to follow along their success as they continue to change the way healthcare is traditionally delivered”, said Abe M’Bodj, Director of Westcove.
About Nextera Healthcare
Nextera Healthcare is a direct primary care organization that contracts with employers to provide primary care services for a monthly membership fee. Founded in 2009, the Company aims to deliver a new framework of providing primary care services that gives patients greater access to physicians, and more one-on-one time with caregivers and in turn, results in better health outcomes. For more information, visit https://www.nexterahealthcare.com.
About Shore Capital Partners
Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, visit https://www.shorecp.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.
