CHICAGO, Oct. 26, 2022 /PRNewswire/ -- Medrina, a portfolio company of Webster Equity Partners, is pleased to announce its acquisition of Radial Health ("Radial"), an Illinois-based physiatry practice.
"I have known members of Radial's physician leadership team for over a decade and there's certainly a lot of excitement to get this deal done by both groups. I've always said the sum of our parts on any deal is always greater than the individual entities involved, and that holds true here as well. While Radial has a significant presence in two of Medrina's largest geographic markets, FL and IL, they actually have their strongest relationships in acute inpatient rehab units as well as long term acute care hospitals, which complements Medrina's traditional strength in the post-acute space. Being in the same geographic areas but concentrating on different parts of the continuum should help Medrina connect more dots in the ever-evolving world of healthcare," said Medrina CEO Dr. Amish Patel, about the recent acquisition.
Dr. Nitin Putcha, Medrina Vice Chairman of the Board, stated, "I was first introduced to the Radial team in 2019, and it immediately struck me as a company with similar values and operational objectives. This acquisition will significantly increase our acute rehab facility presence allowing for optimal patient care and rehabilitative outcomes. Of note, we have successfully completed multiple transactions in the recent term each with specific strategic upside further bolstering our value proposition to patients, hospitals, post-acute facilities and payers across the nation."
Matt Ray, Medrina COO, shared more on the synergistic expansion, "As a leading PM&R practice, Radial's clinical services will enhance Medrina's position and levels of service in the industry. With the combined practices we will be able to execute on our continuum of care strategy to the communities we serve. Radial and Medrina share the same strong values and commitment to our patients, and we are excited for this next chapter of growth and focused effort to drive better outcomes."
Further elaborating on how the acquisition has impacted operations, Daniel Nauheim, Chief Growth Officer at Medrina, said, "This transaction rounds out Medrina's fourth in the last twelve months, in which we have added over 250 medical providers. This acquisition will allow us to leverage Radial's acute rehab model for following patients throughout the continuum of care, ultimately resulting in better patient outcomes. We are excited to have the Radial team join the Medrina family and our continued growth ahead."
Medrina was represented in the transaction by Goodwin Procter LLP, PYA, P.C., and CohnReznick LLP. Reed Smith LLP acted as healthcare regulatory counsel.
Medrina (formerly Integrated Rehab Consultants (IRC)), founded by Dr. Amish Patel and Matt Ray, has been providing high-quality physiatry services since 2010. IRC was a pioneer and innovator within skilled nursing facilities (SNFs) and has since become the largest group of physiatrists in the country, recently rebranding to Medrina after a series of large acquisitions. Prior to the Radial Health announcement, Medrina has been operating in 43 states with 400+ providers. Working collaboratively with each facility, Medrina services have helped to improve hospital readmission rates, patient outcomes, patient satisfaction and staff training. For additional information on Medrina, please visit: www.irehabconsultants.com.
About Radial Health
Founded in 1996 by Dr. Lynn Mershon, Radial Health is a medical group located primarily in Illinois and Florida, specializing in interventional pain and physiatry. In 2019, the group was recapitalized by Twelve Six Capital. Radial currently partners with over 80 facilities including ALFs, SNFs, and 22 acute care hospitals. Radial providers serve as medical directors in 12 facilities. For additional information on Radial Health, please visit:www.radialhealthgroup.com
Founded in 2003, Webster Equity Partners is a private equity firm that partners with healthcare service companies with a focus on high-impact growth strategies based on delivering the highest quality care and exceptional service.
SOURCE Integrated Rehab Consultants