Rendr, a primary care-focused physician group serving approximately 100,000 Asian American patients in New York City, earned a second round of equity investments from Ascend Partners, a healthcare-focused private equity firm, which brings Ascend's investments in Rendr to a total of $85 million. The physician group will use the funding to merge and integrate other independent physician practices in the Asian communities, expand its value-based care and patient education, invest in additional clinical specialty services, state-of-the-art facilities and technology.
NEW YORK, July 18, 2022 /PRNewswire-PRWeb/ -- Rendr, a primary care-focused physician group serving approximately 100,000 Asian American patients in New York City, announced a second round of equity investments from Ascend Partners, a healthcare-focused private equity firm, which brings Ascend's investments in Rendr to a total of $85 million.
Rendr provides high-quality, comprehensive healthcare to underserved Asian American residents throughout New York City. It will use the funding to merge and integrate other independent physician practices, expand its value-based care and patient education, invest in additional clinical specialty services, state-of-the-art facilities and technology for its physicians and patients in Brooklyn, Manhattan and Queens.
"Since our initial investment in 2021, we have been impressed by Rendr's tremendous performance in providing high-quality care to vulnerable Asian communities in New York," says In Seon Hwang, CEO and Managing Partner of Ascend Partners. "We are incredibly proud of the work of Rendr's physicians and staff to improve the access and affordability of much-needed care to the underserved Asian community. We are excited to continue to support Rendr's growth to add more medical offices and greater services to our community."
Rendr has proven to be a valuable resource to the Asian community in New York City. Its overall patient quality scores were the best among all government insurance payors in New York City last year. In addition, in early 2021, it was one of the first community-based healthcare networks authorized by the New York City Department of Health and Mental Hygiene to provide COVID-19 vaccines. By the end of April, Rendr had administered more than 40,000 doses of the vaccine at Rendr's 38 clinical offices across communities with high concentrations of Asian immigrants in Brooklyn, Manhattan and Queens.
"Rendr is proud to provide high quality and value-based health care to every patient, no matter what the immigration status, English proficiency, or social resources are," says Dean Lin, President of Rendr. "With highly experienced medical providers, friendly staff who speak the patient's language, and extensive patient follow-up care, our mission is to provide world-class healthcare with kindness to all our patients."
About Rendr
Rendr is the largest primary care focused, multi-specialty physician group dedicated to serving medically underserved Asian populations in New York City. The physician group was founded in 2019 with a mission to provide world-class health care services and serve kindness to immigrant communities. Currently, Rendr has more than 100 medical providers serving a patient population of approximately 100,000 at its 38 locations across Brooklyn, Manhattan, and Queens. For more information, please visit rendrcare.com.
About Ascend Partners
Ascend Partners is a growth-oriented, healthcare focused private equity firm. Its mission is to build thriving communities by investing in companies and entrepreneurs who improve healthcare access, affordability, and quality for underserved populations. For more information, please visit ascendpartners.com.
Media Contact
Ruby Li, Rendr, 1 3157068876, [email protected]
SOURCE Rendr
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