USMD Inc., Urology Associates of North Texas LLP, Medical Clinic of North Texas PA, and IMPEL Management Services LLC have completed their business combination, resulting in the formation of Irving-based USMD Holdings Inc.
Although the companies will continue to operate under their existing brands, the merger means patients now have access to more than 240 physicians and associate practitioners in 18 different specialties operating in 64 facilities across North Texas.
In addition to operating two local hospitals with more than 400 physicians, USMD Holdings manages cancer treatment centers and kidney stone treatment facilities in 10 other states.
“This is a critical step in achieving our strategy to more efficiently deliver healthcare services to the public and to create an accountable care organization that is well-positioned to provide comprehensive patient care,” said John House, M.D., chairman and CEO of USMD Holdings, in a statement. “Our model brings primary care and specialist physicians together and places them in their proper role as leaders of healthcare delivery. “
USMD Holdings has issued 10 million shares of its common stock to the former owners of USMD, UANT, and MCNT. The shares were issued to the former owners based upon an implied combined enterprise value of $24.10 per share.
Here is more information on the entities involved:
USMD develops, operates, and manages entities that deliver diagnostic, therapeutic, and hospital-based healthcare services to patients.
UANT is a physician group practice that provides professional medical services in the medical specialty of urology.
MCNT is a multi-specialty physician practice group that provides professional medical services to patients throughout the Dallas/Fort Worth metropolitan area.
IMPEL provides management and consulting services to physician practices nationally.