US Heart and Vascular (USHV), the cardiology-focused physician practice management platform operated by Ares Management, has announced a new partnership with HeartPlace, a Dallas-based cardiology practice with more than 20 locations.
USHV oversees a roster of practices based out of Texas, Arizona and Kansas, and the company continues to actively seek new partnerships with “quality practices and entrepreneurial cardiovascular physicians” throughout the United States. This is USHV’s sixth Texas partnership, and second in 2023, but the first based out of the Dallas/Fort Worth area.
“We are thrilled to welcome HeartPlace, the premier independent cardiovascular practice in Texas, to the USHV family,” Chris Kubert, MD, executive chairman of USHV said in a prepared statement. “USHV continues to support patient-centric, physician-led practices that are dedicated to delivering exceptional patient outcomes.”
“We are excited about our partnership with USHV, as it empowers us to continue realizing our vision of being a premier cardiovascular practice delivering the highest quality care today,” added Rick Snyder, MD, president of HeartPlace. “As the largest independent group in Texas, we are committed to healthcare excellence that is timely and compassionate and rooted in our dedication to advanced, cutting-edge technology and innovative reimbursement service methods. By partnering with USHV, we are now a strategically positioned independent practice with the tools, expertise, and scale to grow. We look forward to expanding our reach beyond North Texas and working together to improve cardiovascular health outcomes for our patients.”
Financial terms of the acquisition, which officially closed on March 31, were not disclosed.
The continued rise of private equity in cardiology
Private equity-backed acquisitions are growing more and more common in cardiology, a trend already seen in other healthcare specialties such as radiology and dermatology. Roger D. Strode, a partner with the global law firm Foley and Lardner LLP, talked to Cardiovascular Business back in February about why investors find cardiology practices so appealing in today’s evolving healthcare landscape.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.