Genesis Healthcare Partners, a premier independent urology group based on the West Coast, has been announced as the foundational platform for Urology Partners of America (UPA). This strategic partnership with Triton Pacific Capital Partners, a private equity firm headquartered in Los Angeles, marks a significant development in the physician services sector.
Genesis Healthcare Partners, accessible online at https://www.mygenesishealth.com/, stands as the largest independent urology practice in the Western United States. Boasting a robust network of 34 physicians and 14 advanced practitioners, Genesis Healthcare Partners operates across 15 locations within the greater San Diego region. The organization is recognized for its exceptional clinical programs encompassing urology, gastroenterology, and radiation oncology sub-specialties. Furthermore, Genesis Healthcare Partners is supported by a comprehensive management services organization (MSO) that provides extensive platform infrastructure and a range of ancillary services. These include a pathology lab, a pharmacy, and three radiation oncology centers, one of which features advanced CyberKnife technology. The leadership team at Genesis Healthcare Partners comprises highly respected physicians and experienced business professionals, ensuring a blend of clinical excellence and operational expertise.
Joe Davis, Managing Partner and Head of Healthcare at Triton Pacific, highlighted the strategic importance of Genesis Healthcare Partners: “Genesis is an ideal partner for UPA. Its unparalleled clinical capabilities, combined with a comprehensive suite of management services, will serve as the bedrock for the UPA MSO.”
Urology Partners of America (UPA), found at https://www.uropartner.com/, is envisioned as a transformative physician services platform created by Triton Pacific. UPA’s mission is to redefine urology and gastroenterology care delivery throughout the Western States. By forging partnerships with leading physician practices like Genesis Healthcare Partners, UPA aims to cultivate a unified, quality-focused clinical culture and promote the sharing of best practices across its network. Affiliated practices will benefit from access to an expanded suite of services, providing enhanced value for both physicians and their patients. Initially concentrating on the West Coast’s fragmented healthcare landscape, UPA plans to achieve substantial size, scale, and geographic reach, thereby strengthening its value proposition for payors. UPA’s growth pipeline is strong, with several physician groups currently under letters of intent to join the platform.
Marshal Salomon, CEO of UPA, articulated the platform’s ambitious goals: “UPA presents a unique opportunity to establish a preeminent platform in highly desirable markets. Our objective is to expand the business to include over 200 physicians in the coming years.”
The UPA management team, together with Triton Pacific’s proven history in building successful healthcare services businesses and physician services platforms, offers a compelling advantage to UPA and its member practices. Mr. Salomon brings over two decades of executive leadership experience in multi-site healthcare organizations. He co-founded Vantage Oncology, a provider of high-quality, community-based cancer care with a network of over 200 physician partners and affiliates across 13 states. Most recently, Mr. Salomon served as CEO of The Oncology Institute, a Southern California-based oncology practice, and previously held the position of CEO at InterDent, a leading dental services organization. Dr. Edward Cohen, CEO of Genesis Healthcare Partners, will also assume the role of President at UPA, further solidifying the clinical leadership of the new platform.
Dr. Cohen expressed enthusiasm for the partnership: “We are excited to collaborate with UPA and Triton Pacific in this next chapter for Genesis Healthcare Partners. They understand the key priorities for physician groups and share a clear vision for the platform’s future.”
Triton Pacific has made a significant capital commitment to UPA to facilitate partnerships with urology and gastroenterology practices across the Western States. Florac, Beach Point Capital Management, and GMB Capital Partners also participated in this investment. The specific financial terms of the Genesis Healthcare Partners transaction were not disclosed.
About Triton Pacific Capital Partners
Triton Pacific Capital Partners has established over 50 private equity investment partnerships and a public, non-traded BDC, completing 27 private equity transactions to date. Triton Pacific’s dedicated healthcare investment team has a strong and demonstrable track record of successfully identifying, acquiring, and managing healthcare investments. UPA represents the healthcare team’s ninth platform investment, underscoring their commitment to the sector.
Contact: Triton Pacific Capital Partners – [email protected]
