Private equity-backed cardiology group acquires Arizona practice with 4 locations
Cardiovascular Associates of America (CVAUSA), the private equity-backed cardiology practice management company operated by Webster Equity Partners, has finalized a new partnership with the acquisition of Arizona-based Atria Heart.
Atria Heart, founded in 2015, includes a roster of 14 physicians and advanced practitioners led by cardiologist Maulik Shah, MD. The group serves patients out of four different locations in the metropolitan Phoenix area. Atria Heart’s physicians treat patients in Arizona’s HonorHealth hospital network.
CVAUSA, one of the country’s largest private equity-backed cardiology groups, has a presence in eight states: Florida, Georgia, New Jersey, Rhode Island, South Carolina, Iowa, Illinois and Arizona. It estimates that its physicians serve more than 750,000 patients each year.
“The Atria Heart physicians are excited to join the CVAUSA team,” Shah said in a statement. “We are especially pleased to be a part of the dynamic CVAUSA platform that focuses on providing high-value clinical care while emphasizing physician autonomy, leadership, and success. Our practice is eager to continue to grow, and we feel confident that CVAUSA shares our goals. We are especially impressed with both the momentum that CVAUSA has achieved and the spirit of camaraderie among all of the CVAUSA physicians.”
“Atria Heart is comprised of young, compassionate, high-quality, top-tier cardiologists from the best cardiovascular fellowship training programs in the U.S.,” added Tim Attebery, CEO of CVAUSA. “They have built a strong, vibrant group serving an important and quickly growing region within the greater Phoenix metro area. Atria Heart had many partnership options, and I am honored they chose CVAUSA. In addition to being one of the premier cardiology groups in the country, they have a novel, value-based strategic alliance with HonorHealth, which CVAUSA fully supports.”
Private equity and cardiology
Private equity’s rising influence in cardiology has been one of the specialty’s biggest stories in recent years. It was one of the hottest topics at ACC.24, the recent annual meeting of the American College of Cardiology, and CVAUSA even had a booth at the show to meet with potential partners.
In February 2023, Attebery spoke with Cardiovascular Business about this ongoing trend, noting that the rising costs of care have made it much harder for private practices to get by without outside funding.
Not everyone in healthcare is as excited about private equity’s rise in cardiology and other specialties. For example, a group of physicians recently launched the Coalition for Patient-Centered Care, a new organization focused on reducing the involvement and influence of private equity-backed entities throughout the American healthcare system. In addition, survey data released in March suggest a majority of U.S. physicians think private equity could have a negative impact on patient care.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.