Multi-Specialty HealthCare, a leading outpatient provider of post-traumatic injury care and physical rehabilitation, announced today that it received an investment to support its growth from Bain Capital Double Impact, a leading social impact investor. The partnership will position the founder-led business to expand into new regions, enabling more individuals to benefit from the company's differentiated patient-centric and integrated approach. Financial terms of the private transaction were not disclosed.
Multi-Specialty HealthCare operates more than 30 patient care centers throughout the Baltimore-Washington metropolitan area and the Delmarva Peninsula. It employs a patient-centric, integrated model focused on delivering high quality care to individuals injured in automobile and workplace accidents, regardless of their health insurance status. The Company has a team of general practice and urgent care physicians, chiropractors, orthopedists and other medical specialists who provide a full spectrum of treatment including physical rehabilitation, medical care, and other ancillary services. Multi-Specialty HealthCare supports patients by providing all the necessary care promptly after an injury and fully managing the complex insurance claim reimbursement process.
Multi-Specialty HealthCare has been locally-owned and operated for over 25 years. The Company was founded by Drs. Charles Thorne, Lawrence Yalich, Constantine Misoul and Lawrence Rubin, and the current management team will continue to run the business.
"We founded Multi-Specialty HealthCare out of a belief that a patient-centered, multi-disciplinary approach was the best model for our patients to recover from their injuries. Our differentiated operating model helps assure superior patient satisfaction, and we're proud that this has enabled us to become the provider of choice for patients and referral sources in our current markets," said Thorne. "Bain Capital Double Impact has significant experience supporting founder-led healthcare companies, and our shared social mission will help us expand into new markets to reach a broader population and drive better patient outcomes," added Yalich.
"We are strong believers that integrated care delivery leads to better and more cost-effective outcomes," said Peter Spring, a Managing Director at Bain Capital Double Impact. "Helping to expand Multi-Specialty HealthCare's patient-centered, multi-disciplinary approach presents a significant opportunity to improve access and quality of care to patients who struggle to navigate a complex healthcare system, which often leads to delays or inadequate treatment. We are excited to partner with the founders and the management team to support the Company's growth and scale its social impact in the communities it serves."
Bain Capital has deep experience with investments in healthcare and in providing value-added support for the growth of companies serving vulnerable populations, including Rodeo Dental, HealthDrive, Arosa, Broadstep Behavioral Health, Beacon Health Options, HCA, Surgery Partners and Zelis.
Financo served as financial advisor, and Katten Muchin Rosenman LLP. served as legal counsel to Multi-Specialty HealthCare. Kirkland and Ellis LLP served as legal counsel to Bain Capital Double Impact.
About Multi-Specialty HealthCare
Multi-Specialty HealthCare's mission is to be the nation's premier, multi-disciplinary healthcare services provider with a full continuum of outpatient post traumatic care, committed to a cost efficient, outcome driven environment.
About Bain Capital Double Impact
Bain Capital Double Impact is the impact investing strategy of Bain Capital, a leading global private investment firm. Bain Capital Double Impact leverages deep industry experience and an active, value-added approach to build great companies that deliver both competitive financial returns and meaningful, measurable social and environmental good. Bain Capital Double Impact partners with companies across three themes – health & wellness, education & workforce development, and sustainability to create long-term value and meaningful social impact at scale. For more information, visit www.baincapitaldoubleimpact.com.
