HOBOKEN, N.J. – April 12, 2023 – Vytalize Health, a leading risk-bearing provider enablement platform, announced it acquired a majority interest in physician-lead Independent Physician Association of New York (“IPA NY”), through an investment in Practice Management of America (“PMA”). The deal builds on an existing partnership between the organizations dating back to 2020 and accelerates Vytalize’s expansion into Medicare Advantage, commercial plans, and Medicaid, as well as multi-specialty care.
“IPA NY is a longtime partner that shares our commitment to supporting independent physicians and helping them succeed in delivering high-quality, value-based care. This acquisition is a natural extension of our alliance and will further improve access to care that's personalized, evidence-based, and kind in the New York region and across the U.S.,” said Faris Ghawi, Vytalize Health Co-Founder and CEO.
Headquartered in Suffolk County, IPA NY is one of the largest multi-specialty IPAs in the country with more than 3,000 providers. PMA provides clinical care management, care coordination, and administrative services across 1,000+ locations.
“The vision for PMA was always to find the right strategic partner to help accelerate the full potential of value-based care for our robust network of primary and specialty care providers. Vytalize is an emerging market leader and together, we can bring superior data and technology to engage and strengthen independent providers. This ensures their patients come first and they receive the “right Care at the right Place at the right Time” and receive comprehensive care that improves their outcomes while also reducing healthcare costs overall,” said Michael Guarino, Founder, and CEO at IPA NY and PMA.
Vytalize Health provides an all-in-one solution, including value-based incentives, smart technology, and a virtual and in-home clinic that enables independent practices to succeed in value-based care arrangements. Vytalize’s care delivery model transforms healthcare for hundreds of thousands of patients across the country.
Henry Bloom and Steven Weiss of The Bloom Organization, a leading healthcare services focused investment bank, were the exclusive sell-side M&A advisors for IPA NY in connection with the transaction, while McDermott Will & Emery LLP acted as legal counsel.
Earlier this year, Vytalize Health announced a $100 million funding round to accelerate their goal to advance responsible value-based care for seniors by strengthening primary care practices.
Vytalize Health is a risk-bearing provider enablement platform addressing the healthcare industry’s biggest challenges with its cutting-edge value-based care delivery system. Vytalize partners with more than 2,500 leading providers to improve the quality of care through evidence-based medicine and a patient experience rooted in kindness. By delivering the right data at the right time in the workflow to physicians and their staff, Vytalize makes its partners more efficient and effective, allowing them to focus on proactive, personalized medicine to improve the value of care and lower costs. Learn more at www.vytalizehealth.com.
Independent Physician Association of New York (IPA NY) is a leading healthcare organization dedicated to improving the quality of care for patients across New York State, promoting collaboration and coordination among independent physician practices to deliver high-quality patient-centered care. IPA NY’s network of over 3,000 primary care providers and specialists is committed to providing comprehensive, cost-effective, and coordinated healthcare services to patients with a focus on preventive care and disease management. IPA NY physicians and healthcare providers work together to ensure patients receive the right care, at the right place, at the right time.