Shore Capital Announces Formation of Southern Ear, Nose, Throat and Allergy Partners (“SENTA”), Completion of Affiliation with Northwest ENT and Allergy Center in Atlanta
CHICAGO & ATLANTA–(BUSINESS WIRE)–Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to
announce that it has formed Southern Ear, Nose, Throat and Allergy
Partners (“SENTA”) and completed a strategic partnership with Northwest
ENT and Allergy Center (“Northwest ENT” or the “Company”). Northwest ENT
is a leading ear, nose and throat (“ENT”) and allergy services provider
with seven locations including two affiliated ambulatory surgery centers
in the Greater Atlanta, Georgia metro area. The Company offers
comprehensive medical and surgical ENT and allergy services, including
treatment for thyroid disorders, sinus conditions, ear pain, allergies,
and throat disorders. Northwest ENT will continue to operate under its
brand.
Shore Capital is partnering with Northwest ENT’s existing four partner
physicians, Dr. Drew Locandro, Dr. Shatul Parikh, Dr. Ryan Kauffman and
Dr. Avani Ingley, who have established a reputation for high quality
medical and surgical specialty ENT and allergy care and lead a team of
six doctors, one physician’s assistant, five audiologists and one nurse
practitioner. Drew, Shatul, Ryan and Avani, and the Northwest ENT team
have demonstrated impressive growth through the addition of new service
lines and capabilities, recruiting talented physicians and specialists,
and new center openings. “We are proud of the clinical foundation we
have built as a team and are excited to continue to expand patient and
referral partner access to our treatment and surgical services through a
new phase of transformational growth. Our partnership with Shore Capital
will allow us to accelerate our organic growth including opening new
locations, hiring additional providers, and expanding our patient care
and business support services while simultaneously pursuing affiliations
with other leading practices,” said Dr. Parikh.
Shore plans to invest in infrastructure to further standardize
operations and offer finance, accounting, compliance, marketing, human
resources, IT and other support services to allow clinicians to focus on
providing high quality ENT and allergy services. “Shore Capital is the
ideal partner to help further our medical mission across a broader
geographic reach and shares our commitment to leading clinical quality,
operational excellence and increased patient access,” said Dr. Locandro.
“I have high aspirations for what we can collectively accomplish and
offer to our patients and their referring doctors,” commented Dr.
Ingley. “We are thrilled about the partnership with Shore Capital and
the deep healthcare experience and dedicated management and support
services they bring to the table.”
SENTA and Northwest ENT will pursue affiliations with independent ear,
nose and throat and stand alone allergy practices across the Southeast
in order to build a leading network of doctors that maintains a
patient-first culture with a clear focus on clinical care. “The
partnership provides us with access to capital, administrative
resources, operating expertise and strategic guidance while maintaining
absolute focus on clinical quality as we seek to execute on our vision
of building a leading ENT and allergy practice in the Southeast,” added
Dr. Kauffman.
“We could not be more excited to partner with the entire Northwest ENT
team and look forward to creating a leading ENT and allergy provider in
the Southeast, while offering the highest level of support to our
practices and clinicians,” said Chris Mioton, Chairman of SENTA.
“Northwest ENT provides a solid foundation to build a best-in-class
organization as SENTA seeks to be the partner of choice for practices
throughout the Southeast who provide high quality patient care and
desire a strategic partner to support their business operations and
accelerate growth.”
SENTA represents the eighth platform investment out of Shore Capital
Partners Fund II, L.P., a $190 million investment vehicle raised in
April 2017.
About Shore Capital
Shore Capital is a
Chicago-based private equity firm focused on microcap healthcare
investments. Shore supports management partners with capital, business
development expertise, and industry knowledge to accelerate growth, fund
acquisitions, and generate value to shareholders. Shore targets
investments in proven, successful private companies with superior
management teams, stable cash flow, and significant growth potential,
including organic and growth through industry consolidation. Shore has
~$1 billion of equity capital under management through various
investment vehicles. For more information, please visit: www.shorecp.com.
Contacts
Caroline Collins
BackBay Communications
617-963-0065
Caroline.collins@backbaycommunications.com