Investment management firm Investcorp has acquired Health Plus Management, which provides business services to medical practices in the US.
Health Plus was founded in 1994 by its current CEO, Stuart Blumberg, and provides business management and operations services to independent physician practices in the physical medicine and rehabilitation market.
Its services include site selection, front and back office management, marketing, human resources support, technology and reporting. The business is based in Long Island, New York and has more than 200 employees.
Kevin Nickelberry, Managing Director in Private Equity at Investcorp, said: “We believe Health Plus is well positioned to leverage its compelling service proposition and sector expertise to drive growth both organically and through acquisition.”
Stuart Blumberg, CEO of Health Plus, added: “Our goal has always been to help our clients achieve full clinical autonomy, reduce the administrative burden and allow them to focus on patient care as they build practices positioned for long-term success. We believe Investcorp’s expertise and experience will help us to achieve just this.”
Blumberg remains a shareholder and will continue in his role as CEO of the business.