Palm Medical Centers, a portfolio company of private equity firm MBF Healthcare Partners, has acquired Lakeland-based Jay Care Medical Center Inc., a primary care physician medical practice, and Parkview Medical Group, an affiliated hospital group.
“Jay Care will serve as the foundation for our growth strategy in Central Florida as we continue to partner with other providers and leverage our experience in the managed care space," Juan M. Ortiz, CEO of Palm Medical Centers, said in a statement.
The combination will include 14 medical centers and serve more than 28,000 Medicare and Medicaid patients in the state, Ortiz said.
Dr. Japinder Singh, founder and CEO of Jay Care, said, in a statement: “We are pleased to be joining Palm Medical Centers and we believe that our mutual focus on patient engagement and healthy outcomes will continue to drive our success moving forward.”
Tampa-based Hyde Park Capital served as the exclusive investment banker to Jay Care in the transaction. “The team of professionals at MBF Healthcare and Palm Medical Centers represent an excellent fit with Jay Care’s culture and Dr. Singh’s vision in building a leading primary care practice throughout Central and West Florida," said Keith Hodgdon, managing director with Hyde Park Capital.
Jay Care Medical Center is a primary care physician practice providing internal medicine, family medicine, and related services at seven clinics throughout Florida’s Polk and Hillsborough counties.
MBF Healthcare is based in Coral Gables and invests in growth-oriented health care companies.
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