Rural Healthcare Group Closes Deal with Steward Medical Group
Deal News | Oct 31, 2024 | Kinderhook Industries
Rural Healthcare Group (RHG) has announced the completion of its acquisition of Steward Medical Group and Steward Health Care Network, aiming to expand its primary care services to underserved communities and rebrand as Revere Medical. The consolidation will see investments into the infrastructure and technology of the newly combined entity. Revere Medical is dedicated to maintaining locally-driven care for patients, with an overarching goal of enhancing quality and access to healthcare. This acquisition is supported by Kinderhook Industries, which emphasizes partnerships that promote growth in primary care sectors. The merger intends to streamline operations and enhance care delivery, with legal and advisory services provided by Kirkland & Ellis LLP, Bass, Berry & Sims PLC, Epstein Becker & Green, P.C., and Centerview Partners LLC.
Sectors
- Healthcare Services
- Private Equity
- Legal Services
Geography
- United States – The acquisition concerns healthcare organizations operating across multiple states in the U.S., and the firms involved are primarily based in the U.S.
Industry
- Healthcare Services – The primary focus of the article is the acquisition of healthcare services providing a high-quality care provider organization.
- Private Equity – Kinderhook Industries, a private equity firm, is involved in funding and facilitating this acquisition.
- Legal Services – The transaction involved legal counsel and advisors for facilitating the acquisition.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rural Healthcare Group (RHG) | Acquirer | Company | A primary care provider organization focusing on underserved communities. |
| Steward Medical Group and Steward Health Care Network | Target | Company | One of the largest provider organizations focused on delivering high-quality care. |
| Kinderhook Industries, LLC | Private Equity Firm | Company | A private equity firm that owns Revere Medical and supports its expansion strategy. |
| Revere Medical | Consolidated Entity | Company | The rebranded entity post-acquisition aiming to provide enhanced healthcare services. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Provided legal counsel for the transaction. |
| Bass, Berry & Sims PLC | Regulatory Counsel | Company | Provided regulatory counsel for the transaction. |
| Epstein Becker & Green, P.C. | Regulatory Counsel | Company | Provided additional regulatory counsel for the transaction. |
| Centerview Partners LLC | Financial Advisor | Company | Acted as the financial advisor for the transaction. |