New Mountain Capital provides growth capital to leading provider of outsourced healthcare practice management services
Hauppauge, NY and New York, NY – September 20, 2016 – Island Medical Management, LLC (“Island Medical”), a leading provider of outsourced healthcare practice management services to emergency departments, hospitalist programs, and hospital-based urgent care centers, today announced that it has partnered with New Mountain Capital, LLC (“New Mountain”), a growth-oriented investment firm.
Headquartered in Hauppauge, NY, Island Medical provides services to more than 75 hospital programs across the United States. The company supports high-quality, cost-effective, and compassionate medical care with community-based leadership, industry-leading clinicians, and strong infrastructure capabilities.
New Mountain will provide Island Medical with strategic and financial resources to support future growth, including new service offerings, geographic expansion, strategic partnerships, and expanded investments in infrastructure and personnel. New Mountain first met Island Medical through its proactive efforts to find the highest quality leaders in the physician staffing space.
“Island Medical has built a well-deserved reputation as a best-in-class provider of healthcare practice management services,” said Vignesh Aier, Director at New Mountain Capital. “We feel the company is uniquely positioned as a physician-led group dedicated to the highest levels of clinical care in a cost-effective way, and we look forward to supporting them in that mission.”
Andre Moura, Managing Director at New Mountain, added, “We are excited to work with the team at Island Medical to support their continued growth, both through organic growth initiatives as well as partnerships with other leading physician groups nationwide.”
“We are thrilled to partner with New Mountain,” said Dr. Daniel Ferrara, Founder and Chairman of Island Medical. “New Mountain is known for its focus on business building and has significant experience and resources in the healthcare sector. Together, New Mountain and management have a shared vision of growing Island Medical while preserving and strengthening the ‘patient-first’ culture that has underlined our success to-date.”
About Island Medical
Island Medical Management, LLC is a clinically-led, privately-held organization with over 20 years of management experience. IMM’s unique model offers every advantage of a local community based group, backed by the resources of a national organization. The group currently provides services to over 75 hospital programs throughout the United States, with more than 1.6 million patient encounters each year. For additional information, please visit http://www.immh.com/
About New Mountain Capital
New Mountain Capital is a New York based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://newmountaincapital.com/
Contacts
Marti Ditmyer
Island Medical Management
(631) 299-2484