Private equity-backed cardiology group acquires ‘world-class' practice with team of 23 cardiologists

Michael Walter | June 12, 2023 | Cardiovascular Business | Mergers & Acquisitions

Cardiovascular Associates of America (CVAUSA), the Florida-based practice management company operated by Webster Equity Partners, has acquired Shore Heart Group (SHG), a New Jersey-based practice with seven locations and a team of 23 cardiologists. The deal expands CVAUSA’s reach in the Garden State to more than 80 locations.

SHG’s physicians specialize in a variety of fields, including interventional cardiology, electrophysiology and nuclear cardiology. The practice was first founded more than 20 years ago.

“Joining the CVAUSA network allows SHG cardiologists to partner with cardiologists throughout the country in a meaningful and comprehensive manner to advance cardiac care both locally and nationally,” Ihab Girgis, MD, SHG’s director of electrophysiology and pacing, said in a prepared statement. “Locally, the impact will be immediate as resources will be available to accelerate the growth we had envisioned. Nationally, in the current volatile world of healthcare, CVAUSA promises to be a stabilizing agent as we enter into and engage new stages of healthcare delivery.”

“On behalf of the entire CVAUSA team and 12 other partner groups, I want to express our thanks to Dr. Girgis and his 22 physician colleagues for placing their trust in us to be their strategic partner,” Tim Attebery, CVAUSA’s CEO, said in the same statement. “SHG is a world-class cardiology group. They had many other good options, so I’m honored to be supporting them as they continue to grow and expand services in their region and bring more value to patients and payors.”

This latest acquisition continues CVAUSA’s busy year. The company has also secured new partnerships with the Cardiac and Vascular Institute and the Cardiovascular Institute of Central Florida in recent months.

Cardiovascular Business spoke with Attebery in February about the continued rise of private equity in cardiology. Read the full interview here.

Private equity-backed cardiology management group acquires Florida practice with team of 26 cardiologists

Private equity-backed cardiology groups merge to form new-look entity with presence in 8 states

Q&A: Tim Attebery on why private equity-backed management companies are investing in cardiology

Q&A: What the rise of private equity investments in cardiology means for cardiologists and their patients

Michael Walter, Managing Editor

Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.

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