Sheppard Mullin Represents Summit Medical Group in Largest Multispecialty Physician Group Merger of the Year
Sheppard Mullin represented Summit Medical Group, one of the nation's premier independent multispecialty medical practices, in its merger with CityMD, the leading urgent care provider in the New York metro area -- the first-of-its-kind between an urgent care provider and an independent physician-owned multispecialty medical group. This merger represents the largest multispecialty physician group transaction of the year and creates one of the largest physician groups in the country that is not owned by a hospital or an insurance company. Warburg Pincus, a leading global private equity firm and majority owner of CityMD since 2017, will support the enterprise and help it grow.
The combined organization, which has more than 1,400 providers, over 6,400 employees, and nearly 200 locations in New Jersey and New York, will offer patients a seamless experience across a full spectrum of high-quality primary, specialty, and urgent care. The transaction also involved Summit Medical Group’s management services organization, Zoonie, LLC, which has operations in New Jersey, Oregon and Arizona, and a sale-leaseback of Summit’s 43-acre medical campus located in Berkeley Heights, New Jersey.
The Sheppard Mullin team that represented Summit Medical Group was led by partners Eric Klein and Bijal Vira, and included partners Steven Chananie, Frank Dworak and Dmitriy Chelnitsky, and associates Matt Shatzkes, William Ziegelbauer and Kimberly Rai. Summit Medical Group’s in-house legal team was led by its Chief Legal Officer, Rebecca Levy. CityMD’s legal counsel included Cleary Gottlieb, Steen & Hamilton LLP, Ropes & Gray LLP and Lowenstein Sandler LLP.
Click here to read the press release.