Private equity-backed US Heart and Vascular expands into Kansas with new partnership
US Heart and Vascular (USHV), the cardiology-focused physician practice management platform operated by Ares Management, has announced a new partnership with Heartland Cardiology, a Wichita, Kansas-based cardiology practice that first opened back in 1994.
Heartland Cardiology has four Kansas locations—two in Wichita, one in Derby and one in Newton—and works closely several affiliate hospitals.
“We are very excited about our partnership with USHV, which will enable Heartland Cardiology to remain independent, innovative, progressive, and most importantly, empower us to continue our mission as promised since 1994—providing the most compassionate care for Kansas hearts,” Wassim Shaheen, MD, a cardiologist with Heartland Cardiology, said in a prepared statement. “For our patients and their families, this means continuing our patient-first approach but with greater resources, bringing cutting edge technology, innovation, and research to the forefront of care. In addition, we will remain a physician-owned practice, collaborating with our partner colleagues and primary care physicians throughout the state of Kansas. Today, we truly believe that we’ve kept our goals and objectives clear and uncompromised, promising to all that we will continue to provide the best cardiovascular care here in Kansas.”
“At USHV, we partner with the best cardiovascular specialists and provide them with the resources and support to grow, while delivering outstanding high-quality care to their patients,” added Mike Englehart, USHV CEO. “Through our partnership with Ares, which has longstanding experience supporting the growth of physician-led practices, and Heartland, we are looking forward to advancing our history of quality care, innovation and success in Kansas.”
Financial terms of the acquisition, which officially closed all the way back in December 2022, were not disclosed.
A busy month for announcements
This represents the second significant addition USHV has announced in the month of April. The group previously announced its partnership with HeartPlace, a Dallas-based cardiology practice with more than 20 locations to its name. That deal officially closed on March 31.
The rise of private equity in cardiology continues
Private equity-backed acquisitions are growing more and more common in today’s cardiology marketplace, a trend already seen radiology, dermatology and other healthcare specialties. Roger D. Strode, a partner with the global law firm Foley and Lardner LLP, talked to Cardiovascular Business in February about why investors find cardiology practices so appealing in today’s evolving healthcare landscape.
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.