Emergency department management firm American Physician Partners has bought Wellington, Florida-based TruePartners Emergency Physicians, according to a news release. Terms of the deal were not disclosed.
Founded in 2005, TruePartners provides emergency room physician services to 13 hospitals spread across Florida, Missouri, Oklahoma and Texas, according to the release. Eleven of those facilities are owned by King of Prussia, Pennsylvania-based Universal Health Services Inc. (NYSE: UHS), one of the largest hospital operators in the country, with 27 emergency facilities in seven states and $10.7 billion of annual revenue.
“TruePartners’ metric-driven focus and commitment to exceed the expectations of their hospital clients is very well aligned with our service philosophy,” John Rutledge, president and CEO of American Physician Partners, said in the release. “We are excited to add Missouri and Oklahoma to our footprint and to expand our presence in Florida and Texas, as well as within the UHS system.”
Brentwood-based American Physician Partners has grown rapidly since it was founded in 2015, from working with 215 providers its first year to more than 1,300 at the end of 2018.
That boom helped the company, which has more than 2,000 employees, grow its revenue from $50.8 million in 2015 to $261.8 million last year. American Physician Partners is one of Nashville’s 50 largest privately owned businesses, according to Nashville Business Journal research.
“We were seeking a partner who shared our commitment to recruiting and retaining the best emergency physicians focused on quality patient care,” TruePartners CEO David Soria said in the release. “This partnership will enable us to continue to provide the best service to our hospital clients and will help further growth within UHS and other leading hospitals and health systems. I am excited about our future prospects together.”