Family Care Partners (FCP), headquartered in Fort Mill, SC, has acquired a majority interest in Eastern North Carolina Medical Group, a primary care practice based in Rocky Mount, NC. FCP was formed in 2015 by Varsity Healthcare Partners (VHP) in connection with its recapitalization of Colonial Family Practice, one of the largest providers of primary care and ancillary patient diagnostic services in South Carolina. FCP was established as a platform holding company to facilitate the consolidation of clinically differentiated primary care practices in the Southeast and to centralize non-clinical management functions, in order to maximize provider productivity.
Scale Finance Partner, Tom Livingston, has provided financial consulting and transaction advisory services to FCP since shortly after its formation and provided advisory support for this transaction. Tom previously provided CFO support to Colonial, and he and SF Managing Director, Dave Gilroy, advised and assisted Colonial with the recapitalization by VHP in 2015.
About Family Care Partners
Based in South Carolina, Family Care Partners is a leading consolidator of primary care and ancillary diagnostic patient services, providing centralized management infrastructure and differentiated local clinical workflow and resources to a multitude of primary care practices throughout the region. Family Care Partners is led by a talented team of operating executives, with a deep background in physician practice management services, and selected clinical leaders from Colonial Family Practice and selected other practices. Family Care Partners is dedicated to providing its patients with the highest level of innovative care, personal attention and knowledge of the latest in advances in preventative and remedial care.
About Varsity Healthcare Partners
Varsity Healthcare Partners (VHP), founded by David Alpern and Kenton Rosenberry, is a private investment firm serving primarily family investors by originating, acquiring, and growing market-leading healthcare platforms. The principals of VHP bring extensive healthcare domain expertise and relationships and dedicate substantial time and resources to each platform investment. The firm seeks to combine the unique partnership approach and equity capital to accelerate the growth and maximize the returns of each VHP platform. For more information please visit: www.varsityhealthcarepartners.com.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolinas including Charlotte, Raleigh/Durham, Greensboro, and Wilmington with a team of more than 45 professionals serving more than 120 companies throughout the region.
