Los Angeles, California, March 11, 2021 — Westcove Partners (“Westcove”) announced today that it has entered into an industry partnership with MedAxiom, the nation’s leading cardiovascular healthcare membership organization and performance community.
“Our firm is excited to partner with MedAxiom and its membership base at this important inflection point in the cardiology specialty. While the cardiology marketplace is beginning to understand how private equity capital can positively impact private practice, there remains a lot of questions, misinformation, and skepticism.” said Justin Hand, Managing Director of Westcove Partners. “Our firm has a deep understanding of what is driving the investment interest in this specialty and is excited to be a partner to the cardiology groups in the market beginning to explore the options that are available to their organization. There is a track record of success in similar sub-specialties that proves the benefits of a super-regional or national presence, and we are excited to share our perspectives and experience within cardiology and related physician specialties.
“Westcove will bring a unique and valuable service in the finance and investment banking space to our membership because of their focus in providing sell-side advisory services.” said Joe Sasson Ph.D., EVP of MedAxiom Ventures. “Their dedication to the healthcare industry will benefit our members entering the transaction process and we are excited to welcome them as a MedAxiom Industry Partner.”
Joe Sasson continues, “Westcove’s extensive relationships and industry expertise will provide MedAxiom members a way to navigate strategic partnerships and/or private equity transactions with confidence. Their advisory services are predicated on fully educating their clients on the pros and cons of pursuing a private equity partner or remaining independent. With a relationship-oriented approach, Westcove works to gain a better understanding of the challenges and long-term objectives of the organizations and clinicians they work with. This fosters a transaction process that is structured to drive maximum practice valuation while also identifying the best partner to continue to fuel growth and preserve the legacy of a practice.”
Although consolidation and investment activity in cardiovascular care is in its infancy, there are scores of national practices in other specialties, such as orthopedics, ophthalmology, and gastroenterology, that have been created through partnerships with private equity firms and each practice continues to preserve the practice style of independent medicine and offer physicians an alternative to hospital employment/ownership. Westcove assists leading cardiology practices in considering the alternatives that are increasingly becoming available to their groups such as an investment from private equity partners, partial alignment with an ambulatory surgical center consolidator, a dividend recapitalization, or an existing sponsor-backed cardiology practice. Each of these alternatives will assist independent cardiology practices with creating the cardiology practice of the future and offer economic and growth alternatives to cardiologists that to date have not existed within the specialty.
About Westcove Partners
Westcove Partners (“Westcove”) is a leading investment bank advising clients through mergers & acquisitions, debt and equity financings, as well as other complex corporate finance transactions. The firm prides itself on its mission “Investment Banking with a Purpose,” and leverages a disciplined approach, providing expert guidance in a boutique package to its clients.
MedAxiom, an American College of Cardiology Company, is the cardiovascular community’s largest membership and resources network and the leading cardiovascular-specific consulting team in the U.S. MedAxiom is transforming cardiovascular care by combining the knowledge and power of more than 400 cardiovascular organization members and thousands of providers, administrators and clinicians. Through the delivery of proprietary tools, smart data and proven strategies, MedAxiom helps cardiovascular organizations achieve the Quadruple Aim of better outcomes, lower costs, improved patient experience and improved clinician experience.
For additional information, visit www.MedAxiom.com.