Dallas, Texas – August 8, 2011 – Eagle Hospital Physicians, Inc. (“Eagle”), a portfolio company of private equity firms Highlander Partners, L.P. and Flexpoint Ford, LLC, today announced the acquisition of Inpatient Management, Inc. (“IMI”), a hospitalist practice management company based in St. Louis, Missouri. Following the acquisition of IMI, Eagle, which also completed the acquisition of PrimeDoc Management Services (“PrimeDoc”) of Asheville, North Carolina in July 2011, now employs more than 400 full-time physicians and provides contract hospitalist management services to 43 hospitals in 17 states across the U.S.
Founded in 1997, IMI, which manages 13 hospitalist practices across eleven states in the Midwest, Southeast and West, employs more than 90 full-time physicians. In addition to fully staffing and managing numerous hospitalist programs, IMI uniquely provides practice management services that enable hospitals to benefit from IMI’s practice management skills and experience while employing the hospital’s own professional staff.
IMI’s senior management team, led by IMI’s founder and CEO, Kirk Matthews, will continue to play an integral role in management of Eagle going forward.
“IMI is a highly respected company and has been a pioneer in the industry since its founding,” said Brent McCarty, chief executive officer at Eagle. “IMI’s experience and knowledge, particularly managing hospitalist programs in which the hospital employs the physician and IMI provides the management services, is a model that many hospitals are considering with the advent of health care reform and Accountable Care Organizations.”
Following the acquisitions of PrimeDoc and IMI, Eagle has the capability to provide value-added, high-quality services and patient care to its hospital partners under a variety of operating models. This enables Eagle to continue its focus on being a very flexible partner to its hospital clients, designing and managing practices that best meet the needs and goals of the hospital and its staff.
Bobby Sussman, a partner at Highlander Partners, commented, “We continue to be very pleased with the platform that Eagle has developed and believe strongly that the Company has positioned itself to provide the highest quality of inpatient care in an efficient manner that produces superior results for its hospital clients and their patients.” Terry Hyman, a senior principal at Flexpoint Ford, added, “We are excited about the prospects of the combination of Eagle, IMI and PrimeDoc. Flexpoint Ford and Highlander Partners remain committed to continue to provide substantial additional capital to support future growth initiatives of Eagle.”
About Eagle Hospital Physicians
Eagle Hospital Physicians, a leading group hospitalist practice committed to elevating healthcare, develops and manages hospitalist practices for client hospitals. Founded in 1998, Eagle’s mission is to deliver inpatient professional services that exceed today’s standards and continue to improve quality, satisfaction and efficiency. For more information, visit www.eaglehospitalphysicians.com.
About Flexpoint Ford, LLC
Flexpoint Ford, LLC is an equity investment firm focused on the healthcare and financial services industries. Flexpoint Ford seeks to build relationships with executives and companies who look for Flexpoint Ford to be a value-added partner. Flexpoint Ford aims to invest $10 to $100 million of equity in each opportunity. For more information about Flexpoint Ford, please visit www.flexpointford.com.