Medical Specialists of the Palm Beaches (MSPB) Announces Acquisition of Family Medical Center

Transaction Represents the Sixth Acquisition Since Partnering with Ascend and CareAbout Health, and first practice in Palm Beach Gardens to become part of MSPB’s expanding network

NEW YORK, June 17, 2024 /PRNewswire/ — Medical Specialists of the Palm Beaches (MSPB), a leading primary care-focused, multi-specialty physician group practice in South Florida, today announced the acquisition of Family Medical Center, a physician practice based in Palm Beach Gardens, FL. This is MSPB’s first acquisition in Palm Beach Gardens and its sixth acquisition since a major investment and other support provided by Ascend Partners and CareAbout Health.

“On behalf of the entire MSPB family, we are delighted to welcome Dr. Fahmy, Kara Jolley, Heidi Holland, and their team and we look forward to working closely with Family Medical Center,” said Casey Waters, CEO of Medical Specialists of the Palm Beaches (MSPB). “The acquisition of Family Medical Center is an important one for us, as it speaks to MSPB’s overall vision of becoming the premier healthcare delivery system in South Florida, offering our patients access to the top providers who provide the highest standard of care in our community.”

“We are excited to be part of the MSPB network because it will enable us to continue to provide the highest levels of care for our patients, with a continued emphasis on not only treating patients’ existing conditions, but we also working with patients to maximize prevention strategies,” said Amir Fahmy, MD, President, Family Medical Center. “In addition, we look forward to leveraging MSPB’s experience in growing and managing physician practices like ours with their value-based care capabilities.”

MSPB provides its practices with a strong foundation to deliver on the quadruple aim of value-based care: to improve outcomes, care and patient experience, increase provider satisfaction, while lowering medical costs.

About Medical Specialists of the Palm Beaches (MSPB)

MSPB, founded in 1995, is a primary care-focused, multi-specialty physician group practice, serving South Florida. MSPB is a value-based care focused, integrated healthcare delivery system, committed to providing comprehensive, high-quality care, with respect and integrity for our patients and the community. MSPB now has more than 125 Providers, spread across 37+ offices in Palm Beach and Broward counties and offers primary care, cardiology, interventional cardiology, neurology, hematology & oncology, gastroenterology, colorectal surgery, concierge medicine and laboratory services. For more information, please visit: mspbhealth.com.

About Ascend Partners

Ascend Partners is a growth-oriented, healthcare-focused private equity partnership whose mission is to build thriving communities by investing in companies and entrepreneurs who are improving healthcare access, affordability, and quality for vulnerable and underserved populations. Founded in 2019, Ascend is led by co-founders In Seon Hwang, former global head of Healthcare at Warburg Pincus and member of the Executive Management Group, and Dr. Richard Park, founder and former CEO of CityMD, a leading patient-centric healthcare services company in New York and New Jersey. For more information, please visit www.ascendpartners.com.

About CareAbout Health

CareAbout Health provides management, resources, value-add services, technology, and other support to its portfolio of medical groups and healthcare focused companies. CareAbout Health is helping align incentives to create a world where patients, providers, and payers work together in a seamless, coordinated manner toward common goals: higher quality, lower costs, better outcomes, and healthier communities. For more information, please visit www.careabout.com.