New York, January 06, 2023 – NMS Capital (“NMS”) portfolio company U.S. Urology Partners (“U.S. Urology”) is pleased to announce that Urology of Indiana (“UOI” or the “Company”) has joined its national network of affiliate urology practices. U.S. Urology’s network now encompasses over 150 providers operating throughout over 40 clinical locations in four states. Terms of the transaction were not disclosed.
UOI is a market-leading, multi-specialty urology practice serving Indianapolis, IN and the surrounding regions. Operating throughout central Indiana via a provider base of 40 physicians and 20 Advanced Practice providers, UOI is the largest urology group within the state of Indiana. With roots dating back to 1887 as the oldest continuously operating urology practice in the country, the Company maintains a longstanding history and track record of premier patient care and outcomes, affording UOI its market leadership position.
The affiliation marks U.S. Urology’s fifth since partnering with NMS and expands the broader platform’s geographic footprint into a fourth state. Following completion of the transaction, U.S. Urology represents one of the nation’s largest independent providers of urological care and other specialty services.
Dr. Ronald Suh, UOI President, noted, “We are excited to be a part of the U.S. Urology platform and to join in the shared vision of creating the nation’s leading urological network. Our choice in selecting U.S. Urology as our long-term partner was a function of the platform’s expertise and track record in fostering success and alignment amongst their partner practices. We look forward to leveraging all that U.S. Urology has to offer as we continue upon our growth trajectory and life cycle as a practice.”
Corina Tracy, CEO of U.S. Urology, commented, “We are thrilled to partner with the UOI team in this transaction and are excited by the mutual prospects created by their combination with U.S. Urology. This partnership is the result of our execution upon a selective M&A strategy centered upon bringing together premier urology services providers and creating a platform characterized by growth and best-in-class patient outcomes. UOI meets these criteria perfectly and heightens our excitement and confidence in the trajectory of the broader U.S. Urology platform.”
Britt McDermott, CEO of UOI, stated, “U.S. Urology is uniting high-performing, growth-oriented physician practices to provide the most effective, efficient and innovative urologic care to people in communities across the country. Our leadership fully evaluated options to support the growth of our practice and determined that U.S. Urology is the best clinical and cultural fit for UOI, with core values that mirror ours. We are excited about the many resources available to us through U.S. Urology to enhance services and access to the highest level of urological care throughout Indiana and the Midwest. Our partnership with U.S. Urology will allow us to do more than we could on our own, benefitting our patients and practice.”
Luis Gonzalez, Partner at NMS Capital, said, “U.S. Urology’s partnership with UOI represents an exciting inflection point in the platform’s trajectory. The transaction offers a meaningful increase in both scale and operational leverage by way of U.S. Urology’s corporate infrastructure, as well as a highly complementary expansion of our geographic footprint into an adjacent state. Corina and team have excelled at fostering continued growth amongst other U.S. Urology partner practices and we have the utmost confidence in their ability to do the same with UOI.”
Ernst & Young Capital Advisors served as exclusive financial advisor and Krieg DeVault provided legal advice to the Company. McDermott Will & Emery provided legal advice to U.S. Urology and NMS.
About U.S. Urology Partners
U.S. Urology Partners is one of the nation’s largest independent providers of urology and other specialty services, including general urology, surgical procedures, advanced treatment options for prostate and bladder cancer, and other ancillary services. The practice consists of over 150 providers across a network of over 40 locations throughout Ohio, New York, Florida, and Indiana including two ambulatory surgery centers as well as a state-of-the-art robotic surgery function. For additional information on U.S. Urology Partners, please visit our website at www.us-uro.com.
About NMS Capital
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Business Services and Healthcare Services. For additional information on NMS Capital, please visit the firm’s website at www.nms-capital.com.
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