COSTA MESA, Calif.--(BUSINESS WIRE)-- The Heart and Vascular Institute of Texas (“HAVIT”), a San Antonio-based physician group practice specializing in medical and surgical care of cardiovascular diseases, was acquired by Baptist Health System, an affiliate of Vanguard Health Systems and a leading provider of health care in San Antonio and South Texas.
McGladrey Capital Markets led the negotiations and acted as exclusive financial advisor to the Heart and Vascular Institute of Texas. Transaction terms were not disclosed.
“As the healthcare sector continues to evolve, physician groups and managed healthcare systems are recognizing the mutual benefit that comes from alignments like HAVIT and Baptist Health System,” said Paul Kacik, managing director of McGladrey Capital Markets’ healthcare practice. “Increased efficiencies, streamlined processes and access to additional resources allow physician groups like HAVIT to better serve patients in their communities and free them from the everyday burdens of running an independent practice.”
About the Heart and Vascular Institute of Texas
The Heart and Vascular Institute of Texas was formed in 1994 by 6 San Antonio cardiologists. In the years since, HAVIT has experienced significant growth and added multiple subspecialty expertise. HAVIT now employs 12 board-certified cardiologists. The practice has five full-time offices in San Antonio, with several satellite offices surrounding Bexar County, bringing access to high-quality heart care to the greater San Antonio region.
About Baptist Health System
Baptist Health System is a leading provider of health care in San Antonio and South Texas. The System includes five acute-care hospitals (Baptist Medical Center, North Central Baptist Hospital, Northeast Baptist Hospital, Southeast Baptist Hospital and St. Luke’s Baptist Hospital) which offer 1,753 licensed beds. The system also includes Baptist Regional Children’s Center, Baptist Cancer Center, HealthLink wellness and fitness center, Baptist M&S Imaging Centers, community health and wellness programs, ambulatory services, rehabilitation services, medical office buildings, San Antonio AirLIFE air medical transport, School of Health Professions, and other health-related services and affiliations. Baptist Health System is an affiliate of Vanguard Health Systems, Inc. Nashville, Tennessee.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.
KEYWORDS: United States North America California Texas
INDUSTRY KEYWORDS: Practice Management Health Cardiology Hospitals Professional Services Banking Finance