Summit Medical Group has entered into a definitive agreement to merge with CityMD
June 24, 2019
Summit Medical Group (“SMG” or the “Company”), has entered into a definitive agreement to merge with CityMD, a portfolio company of Warburg Pincus LLC (“Warburg Pincus”). The combined organization will offer patients a seamless experience across a full spectrum of high-quality primary, specialty, and urgent care.
Cain Brothers is serving as the exclusive financial advisor to SMG.
Based in Berkeley Heights, New Jersey, SMG has over 80 locations and 900 providers across specialties. The Company provides multigenerational care and serves the needs of most patients on an outpatient basis, offering walk-in urgent care and ambulatory surgery centers to complex treatment at a comprehensive, state-of-the-art cancer center.
Founded in 2010 by a group of emergency medicine physicians, CityMD’s mission is to serve its communities by providing an exceptional experience through high-quality medical care and convenient access. CityMD has grown to more than 120 locations in New York, New Jersey, and Washington state.
Founded in 1966, Warburg Pincus is a leading global private equity firm focused on growth investing. The firm’s active portfolio of more than 180 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams and since inception, the firm has invested more than $10 billion in more than 150 healthcare companies.