Keep up with the latest investment trends, market movements and news from AMB right here with our frequently updated expert commentaries, newsletters and announcements.
Harry D. Vann joins AMB Investment Advisors, LLC
AMB Announces the Sale of Med First Immediate Care and Family Practice
AMB is pleased to announce the majority recapitalization of RMS Healthcare and Med First Immediate Care and Family Practice (“Med First”) to Sverica Capital Partners IV LP (“Sverica”).
Role: AMB was exclusive financial advisor to Med First in the transaction.1
AMB is pleased to announce the majority recapitalization of Med First by Sverica Capital Partners IV LP which closed on August 2, 2016. The transaction is a result of the longstanding relationship between entrepreneur Randy Schilsky and AMB and underscores AMB’s commitment to and knowledge of the primary care industry, with particular emphasis on innovative models like patient centered medical homes (“PCMHs”) and urgent care. Leading up to the sale to Sverica, AMB advised Med First on the successful closing of three acquisitions to bring its total clinics count to 13 at the time of this announcement.
Randy Schilsky, founder of Med First stated: “We are pleased with our longstanding relationship with AMB and are happy it has culminated in a partnership with Sverica, a premier healthcare investor. With quality investors behind Med First, our Company can grow to additional markets and bring our innovative medical home concept to more patients. We are looking forward to the next phase for our company and team.”
AMB’s advisory services to the primary and urgent care industries continue to grow. Having now completed 13 transactions in this industry alone, AMB is the clear industry leader in advising urgent and primary care clients. Rapid growth due to the healthcare consumer’s desire for accessible and affordable primary care and a transition in healthcare from volume to value lead AMB to believe that there is much more activity to come in primary and urgent care industries.
McGuireWood’s Geoff Cockrell, Benjamin Galea and Holly Carnell led as legal counsel to Med First, and Foley & Lardner’s Paul Broude led as legal counsel to Sverica.
For more information, please contact representatives of the deal team:
About Med First
Headquartered in Jacksonville, North Carolina, and founded in 2004, Med First is a walk-in medical provider of primary and urgent care services to patients in rural and secondary markets across eastern North Carolina and South Carolina. Through the Company’s13 designated PCMHs, it offers its customers convenient and timely primary and urgent care services. The Company providers care for everything from minor emergencies to managing chronic conditions. The Company was recently certified with Blue Cross Blue Shield of North Carolina in their Blue Quality Physician Program (“BQPP”) and has achieved BQPP Level III certification, the highest allowable. This recent certification highlights the commitment that Med First has to its patients and to quality and affordable care.
Learn more at www.thinkmedfirst.com
About Sverica Capital Management
Sverica Capital is a leading lower-middle-market-focused private equity firm that has raised over $700 million of investment capital across four funds. The firm acquires and actively builds companies that are, or could become, leaders in their industries. Since 2001, Sverica Capital has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica Capital devotes significant internal resources to help its management teams develop and execute growth strategies.
Learn more at www.sverica.com
AMB provides comprehensive financial services, including investment banking, investment advisory2, brokerage and personalized client services to a diverse group of clients, including corporations, institutions, individuals and families. We created AMB to offer our clients a better way of managing and preserving their wealth and solving their corporate challenges—one based on meaningful, long-term client relationships.
Our healthcare investment banking team combines a wide array of capabilities with the passion, responsiveness and focus of a boutique firm. We believe in a top-down sector focused approach to ensure that clients receive sector expertise in addition to first-class execution. We invite you to Discover the Difference.
Learn more at www.ambwealth.com
- Securities offered through Allen Mooney & Barnes Brokerage Services, LLC (Member FINRA / SIPC);
- Money management services offered through Allen Mooney Barnes Investment Advisors
2016 State of Recovery Behavioral Health Conference
July 14, 2016
AMB is excited to announce its sponsorship of the 2016 State of Recovery Behavioral Health Conference on July 21st and 22nd. Please contact either Gordon Maner or Alex Carlson if you are at the conference and would like to schedule a meeting:
About the Conference:
As the Behavioral Health industry rapidly expands, the State of Recovery Behavioral Health Conference hopes to expand both the current businesses in the industry and the community as whole. The conference hopes to connect the business side of Behavioral Health with the treatment side to allow for mutually beneficial relationships in the sector. Please join us at one of the largest Behavioral Healthcare conferences in the country.
AMB is pleased to announce its sponsorship of the 13th Annual Healthcare Private Equity & Finance Conference. Gordon Maner will be moderating a panel – Deep Dive into Investments in Urgent Care – on Tuesday, February 23 from 11:15 a.m. – 12:00 p.m. Ryan Loehr will be speaking as part of a panel – Quality of Earnings Insights – on Wednesday, February 24 from 11:15 a.m. – 12:00 p.m. Gordon and Ryan invite you to speak with them if you're at the conference and interested in meeting:
Gordon A. Maner – Gordon.Maner@ambwealth.com and 706-338-0802
C. Ryan Loehr – Ryan.Loehr@ambwealth.com and 843-735-8285
About the Conference
The healthcare and life science markets are in a period of dramatic change. Despite this change, successful private equity funds can still execute deals and achieve capital growth by implementing the right strategies in the right markets. Join us at the premier two-day healthcare-focused private equity, lending and finance conference as we continue to explore new ways to successfully close transactions and achieve growth. This year’s conference will again include presentations by companies seeking investment or financing.
Gordon Maner to Speak at ConvUrgentCare Strategy Symposium
AMB is pleased to announce that Gordon Maner will be presenting at the ConvUrgentCare Strategy Symposium being held in Scottsdale, AZ, January 25-27, 2016 at the Marriott McDowell Mountain Resort. Mr. Maner will be presenting the state of the urgent care industry and its current and future deal making environment. Mr. Maner will be speaking from 1:10PM to 2:10PM AZ on Monday, January 25.
About the Symposium
For health systems, walk-in medicine has become a strategic “funnel” for bringing in new patients, increasing or protecting market share, and boosting patient satisfaction. Health insurance and private equity is also investing in the walk-in medicine space. Since 2008, this conference has gathered healthcare strategy and business development leaders whose focus is on the increasing “retailization” of low-acuity medical care. The purpose of the gathering is to harness the best ideas for a long-term strategy that increases patient access and convenience, lowers costs and improves quality. It is the only conference with an integrated view of retail clinics, urgent care, worksite clinics and primary care. The symposium is highly interactive, using a combination of case studies and discussion panels. To promote interactivity and networking, the number of attendees is limited and there is one concurrent session.
We created AMB to offer our clients a better way of managing and preserving their wealth and solving their corporate challenges based on long‑term client relationships. Our healthcare investment banking team combines a wide array of capabilities with the passion, responsiveness and focus of a boutique firm. We believe in a top‑down sector focused approach to ensure that clients receive sector expertise in addition to first‑class execution. We invite you to Discover the Difference.
AMB’s investment banking team is excited to be in San Francisco during the JP Morgan Healthcare conference January 11 – 16, 2016. Along with the team, AMB will be joined by several of its innovative healthcare clients.
If you are able to attend and would be interested in meeting with AMB or a client, please contact Gordon Maner or Ryan Loehr:
Ryan Loehr (Ryan.Loehr@ambwealth.com / 843-405-1108)
or Gordon Maner (Gordon.Maner@ambwealth.com / 843-405-1104)
Meeting space is conveniently located two blocks from the conference inside the Marriott Marquis.
We look forward to seeing you there. Until then, happy holidays.
AMB is pleased to announce the sale of Industrial Solutions Network to One Call Care Management, a portfolio company of Apax Partners. The transaction, which closed on September 14, 2015, is an example of AMB’s focus and dedication to important sectors of healthcare. AMB has been actively targeting the workers’ compensation industry and developing relationships with innovative companies that alleviate the systemic issue of rising costs in the industry. “Industrial Solutions Network’s reputation for excellence and commitment to quality coupled with AMB’s healthcare M&A experience equated into a perfect partnership”, said Ryan Loehr, of AMB’s investment banking department. The worker’s compensation industry is an approximately $64 bb market in the U.S. and is plagued by falling workplace injury rates along with rising industry costs. These trends are counterintuitive and suggest a need exists in the market for cost containment solutions like ISN. AMB believes consolidation in the industry is likely to continue.
AMB to Sponsor and Attend the Physician Hospital Association (PHA) Executive Summit
AMB is pleased to announce its sponsorship of the PHA Executive Summit being held in Napa, CA from September 30 to October 2. Representatives of AMB’s investment banking and wealth management teams will be present and look forward to meeting with other attendees at the conference. AMB is particularly focused on the physician-owned hospital (POH) segment of surgical hospitals based on our track record in the industry and the belief that the patient, physician and healthcare systems benefit when physicians are aligned with health facilities. In addition, POHs have demonstrated consistent quality metrics. In fact, based upon CMS research in 2012, nine of the top 10 performing hospitals and 48 of the top 100 were physician-owned. Strong quality of care statistics combined with newly implemented legislation restricting the expansion of existing hospitals and the opening of POHs has created a need for greater strategic planning and potential partnership opportunities in the sector.
The conference will be held at the Meritage Resort and Spa in Napa Valley, located at 875 Bordeaux Way, Napa, California 94558.
Brian Bateman Joins AMB’s Wealth Management Team in St. Simons Island, GA
Brian Bateman joined the St. Simons Island office of Allen Mooney Barnes in March 2015. Since then, he has earned his Series 7 and Series 66 licenses and is also licensed in Georgia for Accident & Sickness and Life insurance.
AMB’S Head of Investment Banking to Speak at Healthcare Dealmakers Conference 2015
Thomasville, GA – Allen Mooney Barnes Brokerage Services (AMB) is pleased to announce that it will be attending the Healthcare Dealmakers Conference 2015. In addition, Gordon Maner will be speaking on Dealmaking Across Provider and Payor Continuum. This topic is well timed, as the payor and provider lines are increasingly blurring due to rampant M&A activity and vertical integration. AMB is one of the few investment banks that have participated in this vertical integration in the last few years.
The conference is being held at The Ritz-Carlton in Dallas, Texas May 27-28, 2015. This is the 8th annual Healthcare Dealmakers conference providing healthcare services leaders around the country the great opportunity to promote transformation and collaboration in the healthcare industry. For more information, please go to http://www.healthcaredealmakers.com.
AMB to Attend UCAOA 2015 Annual Convention
April 7, 2015 – AMB is proud to announce its participation in the Urgent Care Association of America (UCAOA) 2015 Annual Convention in downtown Chicago taking place April 27-30. Members of AMB’s Investment Banking and Wealth Management divisions will be attending and hosting an exhibitor’s booth and welcome you to drop by. Alternatively, to schedule a meeting in one of our private conference rooms, please contact Sheila Doyle (Sheila.Doyle@ambwealth.com or 229-225-1500) or Gordon Maner (Gordon.Maner@ambwealth.com).
This year will mark the fourth consecutive year that AMB’s Investment Banking team has participated in the UCAOA annual conference and the second year for AMB’s Wealth Management group. AMB is uniquely focused on the primary and urgent care sectors, and our vast experience in the industry gives clients seeking capital formation and recapitalization strategies a competitive edge. AMB’s advisory services to primary and urgent care companies continue to grow, having now completed seven transactions in this industry alone. In fact, AMB has successfully completed more transactions across the urgent care sector than any other investment banking firm. AMB believes that there are plenty more to come, based on rapid growth due to the healthcare consumer’s desire for accessible and affordable primary care and a transition in healthcare from volume to value.
The conference will be held at the Hyatt Regency in Chicago, located on 151 East Wacker Drive. Conference and registration details can be found by clicking the following link: http://www.ucaoa.org/event/Spring15
We look forward to seeing you at the conference!
We created AMB to offer our clients a better way of managing and preserving their wealth and solving their corporate challenges based on long-term client relationships and a focus on quality of advice rather than quantity of services offered. Our investment banking group combines a wide array of services and capabilities with the passion, responsiveness and focus of a boutique firm. Our approach with each client is tailored and research driven. We advise a select group of corporations, management teams, boards of directors and former CEOs on mergers and acquisitions, capital formation transactions and performance improvement. Our Wealth Management services were created to offer the highest level of service and professional investment advice to clients who are interested in prudent strategies and diversified portfolios. We offer one-to-one service to customize each portfolio for the specific needs of our clients and measure our success by the long-term success of our clients.
Discover the Difference of AMB.
Learn more at www.AMBWealth.com
Securities offered through Allen Mooney & Barnes Brokerage Services, LLC (Member FINRA / SIPC)
AMB to Participate in GCCMA’s Spring Convention
Allen Mooney & Barnes (“AMB”) will be attending GCCMA’s 2015 Spring Conference held in Athens, GA, at the Classic Center, March 25-27. AMB will be represented by members of its wealth management team and exhibiting with a booth. Please contact Sheila Doyle at 229-225-1500 or firstname.lastname@example.org if you plan on attending and would like to schedule a visit with us. With AMB’s long history of advising municipalities and government authorities in their wealth management initiatives, GCCMA offers a perfect venue to engage old friends and meet new contacts across Georgia.
AMB’s services to municipalities and government authorities include: investment portfolio management, actuarial consultant liaison, pension payroll processing, and investment policy development and review.
We created AMB to offer our clients a better way of managing and preserving their wealth and solving their corporate challenges based on long-term client relationships and a focus on quality of advice rather than quantity of services offered. Our Wealth Management services were created to offer the highest level of service and professional investment advice to clients who are interested in prudent strategies and diversified portfolios. We offer one-to-one service to customize each portfolio for the specific needs of our clients and measure our success by the long-term success of our clients.
Allen Mooney & Barnes Brokerage Services exclusive advisor to Tulsa Spine & Specialty Hospital in its sale of 51% interest to Hillcrest HealthCare System
Allen Mooney & Barnes Brokerage Services (AMB) has announced the purchase of 51% membership interest of Tulsa Spine & Specialty Hospital, LLC (TSSH) by Hillcrest HealthCare System (HHS), a subsidiary of Ardent Health Services (Ardent). AMB served as the exclusive financial advisor to TSSH in the transaction. Gordon Maner, head of Investment Banking at AMB, stated that this transaction “provides TSSH with a strong partner to further build upon its reputation as the leading surgical hospital in Tulsa.” Ardent Health Services subsidiaries own and operate health systems and related healthcare assets across the U.S. With newly implemented legislation restricting the expansion of existing hospitals and the opening of new physician-owned hospitals, AMB is expecting to see many more of these type transactions in the physician-owned hospital sector.
Allen, Mooney & Barnes Brokerage Services, LLC (AMB) announced today the acquisition of seven Carolina Quick Care (CQC) locations by FastMed Urgent Care (FastMed), serving as the exclusive financial advisor to CQC in the transaction. The transaction closed on November 14, 2014, and “provides a strong opportunity for FastMed to continue executing on CQC’s strategy to service secondary North Carolina markets with high-quality and convenient urgent care,” says Marc Anderson, Vice President of AMB’s investment banking group.
AMB’s advisory services to the walk-in medical and urgent care industry continue to grow, and their investment banking team believes there is plenty more to come.
First Clearing Correspondent Services (First Clearing) announced on September 29, 2014 that it has welcomed Allen Mooney Barnes Brokerage Services, LLC to its portfolio of client firms. “Our attention to relationships parallels the way First Clearing does business—that is, by building strong, lasting connections with client firms,” said AMB Managing Partner, M.H. Allen, Jr. “AMB’s and First Clearing’s values and strategic thinking dovetail beautifully,” said First Clearing President, John G. Peluso, Jr.
The President of Allen, Mooney & Barnes Investment Banking, Gordon Maner, recently spoke with Forbes, sharing his views on the coming shift for the urgent care market. While urgent care clinics have been in operation in the U.S. for over 30 years, the urgent care business model has experienced significant traction and growth over the past several years by implementing a retail business model of convenience and affordability. The strategy is proving to be successful with 10,000 urgent care clinics, currently, across the nation handling 160 million visits annually, and projected growth to more than 12,000 by 2019. The growth burst in urgent care clinics has attracted the attention of other retailers. According to Gordon Maner, "This market is going to shift toward a handful of large players," noting the peaked interest of discount druggists like Walgreens. To read the full article click herehttp://www.forbes.com/sites/briansolomon/2014/07/02/drive-thru-health-care-how-mcdonalds-inspired-an-urgent-care-gold-rush/2/.
AMB’s Head of Investment Banking Featured in InsuranceNewsNet.com Article on Looming Transition of Urgent Care Industry
Gordon Maner, President and Head of Investment Banking for Allen, Mooney & Barnes Investment Banking was featured by InsuranceNewsNet.com in an article on June 17, 2014 regarding the looming transition of the urgent care industry. InsuranceNewsNet.com, the leading Web-based publication in the life, health and property/casualty industries, reported that while the past decade for urgent care clinics has been one of rapid expansion and build up, the coming decade is pointing toward one of transition with an increase in mom-and-pop clinics merging with larger operators. “The apex of these mergers could come a few years from now," according to Mr. Maner. “The likely buyers may be those with the largest stakes in the health care enterprise—insurers and hospitals," Mr. Maner said, "as well as other large companies that operate in the health care space such as hospitalist staffing companies and national pharmacy chains." Click here to read the full article.
Gordon Maner, Head of investment banking at Allen, Mooney & Barnes Brokerage Services, LLC was among a panel of experts speaking at the annual Healthcare Dealmakers Conference held May 13th & 14th at the Ritz-Carlton in Dallas, TX. While some researchers painted a rather gloomy picture of the future of the Western civilization due to aging baby boomers and low birth rates, Maner focused on the positive changes he sees for the future of health care in the midst of an aging population. Patients and health care consumers will become much more involved in their health care choices, whether that be which hospital or doctor to use or which health insurer can best meet their needs, according to Maner. Click here to read the full article from the Dallas Business Journal.
Gordon Maner, President and Head of AMB Investment Banking will be speaking May 14, 2014 at the Healthcare Dealmakers 2014 Conference at the Ritz-Carlton in Dallas, Texas. Mr. Maner will participate in a four-member panel that will be forecasting the next five years of merger and acquisition activity across the healthcare ecosystem. For more information please go to http://www.healthcaredealmakers.com.
March 17, 2014
AMB is proud to announce that Gordon Maner, head of the investment banking services group, has been profiled in 2019 and Beyond: Perspectives of 15 Urgent Care Leaders, a white paper authored by national law firm McGuire Woods. AMB’s investment banking team is deeply focused in healthcare with demonstrated market leadership across retail healthcare, where urgent care plays an integral role. Maner believes that AMB’s inclusion in the list validates the firm’s focused commitment to important healthcare sectors.
Excerpt from Page 12
“The urgent care market will continue to see more transactions and consolidation in the coming three to four years. However, EBITDA multiples (i.e., valuations) may decline as the market becomes more saturated and speculation surrounding the Affordable Care Act becomes reality. Private equity investment opportunities in mid-level urgent care companies (10 to 15 centers) have significantly decreased due to the lack of availability of platform companies. Thus, transaction and investment focus will be at the mega-chain level or on independent centers, whereby an investment group could link together 10 to 15 centers to create a new regional player. Running parallel to this trend, more payors will follow Humana’s entrance into urgent care and seek to vertically integrate with the urgent care market in an attempt to steer their participants away from high-cost emergency departments and to urgent care. Evidence of this trend is UnitedHealthcare’s recent opening of three urgent care sites at the end of 2013. Ultimately, to survive in 2019 and beyond, urgent care companies will have to be larger and more consumer-driven to address increasing overhead costs, as compliance and standardization become barriers to entry. Synergies and cost-saving initiatives will be key for healthcare systems to compete with larger corporate urgent care chains."
We created AMB to offer our clients a better way of managing and preserving their wealth and solving their corporate challenges based on long-term client relationships and a focus on quality of advice rather than quantity of services offered. With offices in Thomasville and St. Simons Island, Georgia; Tallahassee, Florida; Charlotte, North Carolina; and Charleston, South Carolina, AMB leverages its set of capabilities to support our clients by providing uncompromised advice and world-class solutions. Our investment banking group combines a wide array of services and capabilities with the passion, responsiveness and focus of a boutique firm. Our approach with each client is tailored and research driven. We advise a select group of corporations, management teams, boards of directors and former CEOs on mergers and acquisitions, capital formation transactions and performance improvement. Discover the Difference of AMB. More information is available at www.ambwealth.com.
Securities offered through Allen, Mooney & Barnes Brokerage Services, LLC (Member FINRA / SIPC)
March 17-20, 2014
We are excited to announce another year with the Urgent Care Association of America (UCAOA) as a silver sponsor.
Our Investment Banking team will be participating in UCAOA’s Spring Conference in Las Vegas from March 17 – 20 and we would like to invite you to meet with us during the event. AMB’s Head of Investment Banking, Gordon Maner, will be speaking on a panel regarding the future of the industry on Tuesday, March 18, at 3:15 pm. In addition, several clients actively pursuing partnership and alignment strategies will be in attendance, and we are delighted to facilitate meetings where appropriate. If interested, please email Gordon Maner at Gordon.Maner@ambwealth.com. Please find additional information about the conference at www.ucaoa.org
We look forward to seeing you and discussing future opportunities at the conference!
The AMB Team
February 9-21, 2014
A group of 13 business faculty members visiting from Guangzhou College of South China University of Technology (GC-SCUT) visited Allen Mooney & Barnes Investment Advisors (AMB) in Thomasville, GA on February 13, 2014. Thomas University (TU) is in the process of beginning a very innovative dual degree program with this university where Chinese students take a mixture of GC-SCUT and TU classes in China and in the end they are awarded a Thomas University bachelor’s degree in business administration. TU invited the business division faculty members for a 2-week seminar at TU so that they can meet the TU faculty and learn more about TU’s business classes and teaching methods. They will have presentations, business site visits like the one at AMB, and workshops during their time here. Upon arrival, the GC-SCUT faculty members were welcomed in Mandarin by Yvonne Chen, an AMB colleague, from neighboring Taiwan. AMB Managing General Partner, M.H. Allen, then welcomed the visiting faculty to the investment firm and gave a brief overview of the firm’s services. Bill Drake and Greg Adams, leading members of the AMB Portfolio Management Committee, lead a discussion on AMB’s portfolio management process and theory. Carla Roach, AMB’s Chief Compliance Officer, demonstrated the firm’s technology and portfolio management software. GC-SCUT faculty members were invited to lead discussion on Chinese demographic trends, the economy and China in general.