This transaction was emblematic of the way we at Ziegler help our clients achieve their goals in an increasingly complex healthcare environment...
Chicago, IL (PRWEB) July 26, 2017
Ziegler, a specialty investment bank, is pleased to announce its role in advising Med Fusion in its recent sale to Quest Diagnostics. The transaction allowed Quest Diagnostics to acquire Med Fusion, creating a base in the southwestern United States for providing precision medicine diagnostics to aid cancer treatment and care.
Headquartered in Lewisville, Texas, Med Fusion is an advanced diagnostics laboratory business providing support to a wide range of healthcare providers. The company is positioned to introduce more targeted precision medicine diagnostics for oncology and help enhance healthcare delivery system efficiencies.
In connection with the transaction, Quest is now a preferred provider to several organizations that were formerly owners of Med Fusion. These organizations include The US Oncology Network (The Network), Baylor Scott & White Health (BSWH), Texas Oncology and Pathologists Bio-Medical Laboratories. The Network is the largest of its kind, consisting of more than 400 locations across the United States and over 1,400 independent, community-based physicians, including Texas Oncology. BSWH is the largest not-for-profit health care system in the state of Texas, with 12 hospitals in North Texas. Additional terms were not disclosed.
Kirk Kaminsky, President, The US Oncology Network and Practice Management, said, “We are excited to team up with Quest as a way to further enhance our ability to support The Network physicians and their patients. The development of evidence-based diagnostic pathways will complement other aspects of our value-based care models and contribute to our efforts to keep cutting-edge cancer treatment available to all. Ziegler was instrumental in facilitating the process that led to a mutually beneficial conclusion.”
Dermot Shorten, Senior Vice President, Strategy, M&A and Ventures at Quest Diagnostics, added, “Ziegler was an important advisor in helping us to understand the full complexity of the two co-located laboratories and the various interrelationships with each owner-entity. This was a complicated transaction and Ziegler was up to the task of helping each party navigate their way to a successful result.”
Ernie Sims, Executive Director of Texas Oncology, concluded, “Ziegler was critical to the success of this process, in part because of their ability to help balance all the various concerns of a very diverse group of owners.”
Grant Chamberlain, Managing Director in Ziegler's Corporate Finance Healthcare practice, commented, “This transaction was emblematic of the way we at Ziegler help our clients achieve their goals in an increasingly complex healthcare environment. I believe the entity and partnerships we have built between Quest and the original founders will help improve the care of cancer patients.” Mr. Chamberlain was assisted in this transaction by Patrick Walsh, Adam Heller, Kari O’Brien and Jenny Poth.
Ziegler's Corporate Finance practice is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals and senior living, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization/restructuring, equity private placement and strategic partnering services.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
About Med Fusion:
Headquartered in Lewisville, Texas, Med Fusion is an advanced diagnostics laboratory organization providing support to a wide range of healthcare providers. The company is positioned to introduce more precision medicine diagnostics for oncology and help enhance healthcare delivery system efficiencies. from its nearly 200,000-square foot facility. For more information, please visit http://www.medfusionservices.com.
Ziegler is a privately held investment bank, capital markets, wealth management and proprietary investments firm, celebrating its 115th anniversary this year. Ziegler is ranked No. 1 in the country in healthcare/senior living underwriters by issuance and No. 4 by par amount (Thomson Reuters, 2016), and is ranked in the top 20 municipal underwriters in the country by volume (Bloomberg, 2016). Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance, enables Ziegler to generate a positive impact on the communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research. To learn more, visit http://www.Ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
# # #