Edgemont Partners Advises Michigan Institute of Urology on its Sale to Solaris Health, a Portfolio Company of Lee Equity Partners
Edgemont Partners (Edgemont), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as exclusive financial advisor to Michigan Institute of Urology (MIU) on its sale to Solaris Health (Solaris), a portfolio company of Lee Equity Partners.
Edgemont Partners (“Edgemont”), a premier healthcare investment bank and a leading M&A and capital raising advisor exclusively serving healthcare companies, announced that it acted as exclusive financial advisor to Michigan Institute of Urology (“MIU”) on its sale to Solaris Health (“Solaris”), a portfolio company of Lee Equity Partners. The terms of the transaction, which closed on November 5, 2021, were not disclosed. Edgemont’s deal team was led by Brett Skolnik, Managing Director.
The newest Solaris affiliate, MIU, is the most advanced private urology practice in Michigan with 60 providers delivering state-of-the-art care in 19 locations. Mitchell Hollander, MD, CEO of MIU, will serve as Solaris’ Chief Innovation Officer and Vice Chairman of the Board of Solaris.
The addition of MIU means that Solaris now aligns the skills and talents of over 330 providers who care for nearly 500,000 unique patients each year at more than 134 sites in New York, Ohio, Pennsylvania, Kentucky, Indiana, Illinois, and Michigan.
“We welcome MIU as a practice that shares our vision to develop a national practice predicated on clinical excellence and business best practices,” stated Solaris Chairman and Chief Ecosystem Officer, Deepak A. Kapoor, MD. Solaris President, Gary M. Kirsh, MD added, “By choosing to scale nationally, MIU physicians will maintain their high standards of patient care and gain access to the resources needed to successfully navigate an increasingly complex and consolidated health care system.”
“The size, scale and innovation advantages presented by this national network of urology practices redoubles our dedication to providing patients the most up-to-date, state-of-the-art care,” said MIU’s Dr. Hollander. “We’re always striving for better outcomes, and ensuring excellence is met in all facets of our practice.”
“The addition of Michigan Institute of Urology, one of the leading urology practices in the United States, boosts the momentum we are building for even greater expansion,” said Eric Mason, MD, MBA, Solaris Health CEO.
MIU’s sale to Solaris marks Edgemont’s thirtieth physician services transaction. Other recent transactions include the sale of Tennessee Retina to Retina Consultants of America, the sale of Progressive Vision Institute to SightMD, growth investment in Mindful Health Solutions by Norwest Venture Partners, recapitalization of Quigley Eye Specialists by New Harbor Capital, the sale of Arizona Dermatology to West Dermatology, and the sale of Spine Nevada to HopCo. Edgemont is the leading investment banking firm advising independent physician practices and private equity-backed Clinician Services companies on strategic alternatives, including mergers, acquisitions, sales, and private equity recapitalizations. Edgemont’s Clinician Services group serves practices across a broad range of office-based and hospital specialties, including outpatient mental health services, orthopedics / musculoskeletal care, cardiovascular care, dental, dermatology, ophthalmology, urology, urgent care, primary care, psychiatry, gastroenterology, rheumatology, pain management, women’s health / OB-GYN, and fertility as well as emergency medicine, hospitalist medicine, anesthesiology, and radiology.
About Michigan Institute of Urology
Michigan Institute of Urology is one of the largest independent urologic sub-specialty groups in the United States, with 19 offices located throughout southeast Michigan. The practice, comprised of over 60 providers, is at the forefront of delivering the most advanced urologic care for men, women and children. MIU is committed to continuously improving the practice of urology through its research department with over 20 ongoing interventional, observational and biomarker trials. For more information, please visit www.michiganurology.com.
About Solaris Health
Solaris Health is a leading national healthcare platform committed to enhancing access to specialty healthcare and continually improving patient outcomes. Empowering community providers allows us to make sure that every decision we make puts patient care at the forefront. We are growing to meet the changing needs of the healthcare providers, and to develop innovative ways to better deliver value and state-of-the-art care to our patients. Solaris Health is proud to be among the most innovative medical organizations in the United States. For more information, please visit www.solarishealthpartners.com.
About Edgemont Partners
Now in its 20th year, Edgemont ranks among the most active and best-performing independent healthcare M&A and financial advisors in the U.S. We focus solely on providing expert strategic advice and transaction execution to healthcare and life sciences companies, bringing a steadfast commitment to our clients, driven always to prioritize their best interests. Edgemont’s principals have executed 175+ transactions with an aggregate value of $75 billion+.
For more information on Edgemont and how we can best serve you, contact Ben Hughes at +1 (646) 632-3967, or visit our website at www.edgemont.com.
Investment banking services are provided by Edgemont Capital Partners, LP, a registered broker-dealer and member of FINRA and SIPC.
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