Ascend Capital Partners Announces Equity Investment in Allied Physicians Group and Adjuvant.Health

In Partnership with CareAbout, Investment will Enable Expansion of Primary Care Services and Improve Patient Care Management and Delivery

NEW YORK and MELVILLE, N.Y., Jan. 30, 2023 /PRNewswire/ -- Ascend Capital Partners, a healthcare focused private equity partnership, today announced an equity investment in Allied Physicians Group, New York's largest independent provider of pediatric care, and Adjuvant.Health, an innovator in providing physician-led medical practice administration. As part of the investment, CareAbout, a management services organization affiliated with Ascend Capital Partners, will partner with Adjuvant.Health to improve healthcare delivery and clinical quality.

Allied Physicians Group offers comprehensive care at more than 35 primary care offices across the New York market, with 150 clinicians who see more than 180,000 patients. Adjuvant.Health provides a full suite of consultative services including administrative consulting, marketing, practice services, information technology as well as culture and leadership training. The investment will enable Allied Physicians Group and Adjuvant.Health to expand more deeply into comprehensive primary care services, and extend the reach and depth of preventive, acute and chronic care management for patients.

"We are excited to be working with Ascend Capital Partners and CareAbout's highly experienced management team to grow our footprint, expand the services we offer and improve the delivery of care," said Dr. Kerry Frommer Fierstein, CEO of Allied Physicians Group and Adjuvant.Health. "As organizations, we collectively share a similar mission of improving healthcare access, affordability, and quality, which will enable us to continue to operate in a way that empowers our physicians and lets us put our patients' needs first."

"Allied Physicians Group and Adjuvant.Health have been successful because they recognize that efficient, technology-driven care and practice administration improve the patient-physician relationship and optimize health outcomes," said Dr. Richard Park, Managing Partner of Ascend Capital Partners. "We look forward to supporting their continued efforts to improve access and affordability, while delivering quality patient care."  

About Allied Physicians Group  
Allied Physicians Group is the largest independent pediatric group in New York and operates apart from health systems and hospitals.  As a physician led organization, Allied Physicians Group believes patients receive better and more attentive care when they are seen by an independent pediatrician who has the freedom to make decisions that are best for the child. Allied Physicians Group is a growing partnership of more than 35 pediatric practices throughout Greater New York City, Long Island, and the lower Hudson Valley region. Each year, the 150 clinicians of Allied Physicians Group see more than 180,000 patients. To learn more please visit www.alliedphysiciansgroup.com.

About Adjuvant.Health
Adjuvant.Health is a pediatrician-led innovator in providing best-in-breed medical practice office administrative support, technology, marketing, vulnerability protection and profitability enhancement services. Adjuvant.Health, was formed by the Partner Physicians and Executive team of Allied Physicians Group, a partnership of more than 150 dedicated physicians who serve over 180,000 patients throughout New York State. Adjuvant.Health's administrative support allows practicing physicians to remain independent and focus less on the business needs and more on what is important to them, patient care. It is a partnership of likeminded, independent pediatric physicians focused on both the clinical and financial side of a practice or group. To learn more please visit http://www.adjuvant.health.

About Ascend Capital Partners
Ascend Capital Partners is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability, and quality for vulnerable and underserved populations. Founded in 2019, Ascend Capital Partners is led by co-founders In Seon Hwang, former global head of Healthcare at Warburg Pincus and member of the Executive Management Group, and Dr. Richard Park, founder and former CEO of CityMD, a leading patient-centric healthcare services company in New York and New Jersey. For more information, please visit www.ascendpartners.com.

About CareAbout
CareAbout provides management, resources, value-add services, technology, and other support to its portfolio of medical groups and healthcare focused companies. CareAbout is helping align incentives to create a world where patients, providers, and payers work together in a seamless, coordinated manner toward common goals: higher quality, lower costs, better outcomes, and healthier communities. For more information, please visit www.careabout.com.

CareAbout Media Contact:
Will Nestor, Chief Administrative Officer
[email protected]

SOURCE CareAbout