Deloitte Advises Primary Critical Care in Sale
Deloitte Corporate Finance acted as exclusive financial advisor to Burbank, CA-based Primary Critical Care Medical Group, a hospital and critical care medicine physician practice, in the sale of its operations to Team Health, one of the nation’s largest providers of outsourced physician staffing solutions for hospitals.
“When evaluating partnership opportunities, we determined that Team Health was a natural fit,” said Bruce Gipe, MD, founder and medical director of PCCMG. “Team Health offers extensive resources in hospital medicine as well as emergency medicine management. Further, it provides unparalleled support for physicians and other clinicians. We are excited to join a provider-centric organization with a culture of high clinical and business standards.”
“We are pleased to welcome PCCMG to Team Health,” said Oliver Rogers, president of Team Health Hospital Based Services. “The group has a reputation for providing exceptional service to affiliated providers as well as hospital partners and excellent care for the patients and families they serve. The addition of PCCMG to Team Health underscores our commitment to partner with high-quality physician groups.”
“Working with the management team at PCCMG on this transaction with Team Health has been a pleasure. As consolidation in the physician practice management industry increases, management of hospital-based medical services is becoming increasingly more important,” said Mike McArthur, managing director, Deloitte Corporate Finance.
Primary Critical Care Medical Group specializing primarily in hospital and critical care medicine, PCCMG provides these clinical services through partnerships with five hospitals and clinics in the Southern California market. PCCMG also provides hospital medicine services for more than 100 hospitals throughout California through its contract with Kaiser Permanente. Additionally, PCCMG manages and staffs the emergency department for Fallbrook Hospital in Fallbrook, CA, and provides care for approximately 14,000 patients annually.
Knoxville, TN-Team Health is one of the largest providers of outsourced physician staffing solutions for hospitals in the United States.