South Florida Primary-Care and Multi-Specialty Physician Group Practice Receives Private Equity Investment

BOYNTON BEACH, Fla., Dec. 5, 2022 /PRNewswire/ -- Medical Specialists of the Palm Beaches ("MSPB"), a primary care-focused, multi-specialty physician group practice serving Palm Beach and Broward counties in Florida, is pleased to announce that it has received an equity investment from Ascend Capital Partners ("Ascend"), a healthcare-focused private equity firm; as well as management partners at CareAbout ("CareAbout"), a management company and service provider that helps to empower physicians, enable value-based care success, and energize growth & scale. 

"MSPB is proud to provide comprehensive and high-quality care to our patients. We have highly experienced medical providers with a deep understanding of value-based medicine, a strong executive management team, best-in-class service, friendly and knowledgeable staff and a patient-centric approach to care. MSPB's mission is to be the premier health care delivery system, offering the highest standard of care, utilizing advanced medical practices to achieve the highest quality of life for our community," said Casey Waters, Chief Executive Officer of MSPB.

MSPB will use the funding to expand its footprint and value-based care offerings, enhance patient education efforts and invest in additional clinical specialty services to serve additional patients throughout South Florida.

"MSPB, led by Casey Waters and Dr. Carlos Lira, are visionaries in practicing and delivering high-quality, value-based care.  We are incredibly proud and humbled to support MSPB's continued growth and leadership in providing higher quality, integrated care while lowering costs for patients and our healthcare system. MSPB's success is a testament to the power of patient-physician alignment, better clinical and operating insights, and having a proactive, team approach to healthcare," said In Seon Hwang, Managing Partner of Ascend Capital Partners.  

MSPB is poised for future growth, with a highly scalable business model that will allow it to leverage its strong corporate infrastructure and offering of services to support and enable providers in their transition to value-based care. MSPB physicians focus on providing patients with prompt access for acute conditions while utilizing preventative medicine to better manage patient conditions to reduce hospital admissions and emergency room visits.

"MSPB is now positioned to take its forward-thinking business model to the next level. In a healthcare world where big corporations are taking over private practices and hospital systems are continuing their dominance, the partnership with Ascend will ensure that our physicians can maintain their high level of quality, values and standards of care while fulfilling our mission to our patients and the community. MSPB found in Ascend the ideal partnership to continue our competitiveness in the healthcare market while also maintaining our unique identity," said Carlos Lira, M.D., MSPB's Chief Medical Officer.

MSPB, founded in 1995, is a primary care-focused, multi-specialty physician group practice, serving South Florida. MSPB is a value-based care focused, integrated healthcare delivery system, committed to providing comprehensive, high-quality care, with respect and integrity for our patients and the community. MSPB has more than 85 Providers, spread across 25+ offices in Palm Beach and Broward counties and offers primary care, cardiology, neurology, hematology/oncology, concierge medicine and laboratory services. For more information, please visit mspbhealth.com

MSPB Media Contact: [email protected] 

Ascend Capital Partners, founded in 2019 by In Seon Hwang and Dr. Richard Park, 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. For more information, please visit ascendpartners.com.

Ascend Media Contact: [email protected] 

CareAbout provides expert advice, resources, services, 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 careabout.com and connect with us at https://www.linkedin.com/company/careabouthealth/.

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

SOURCE Medical Specialists Of The Palm Beaches, Inc.