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Triton Pacific Partners with Genesis Healthcare on New Physician Services Platform

Triton Pacific Capital Partners, a private equity firm based in Los Angeles, has partnered with Genesis Healthcare Partners as the founding platform in its physician services organization, Urology Partners of America.

Triton Pacific Capital Partners, a private equity firm based in Los Angeles, has partnered with Genesis Healthcare Partners as the “founding platform” in its physician services organization, Urology Partners of America.

Urology Partners of America is a physician services platform established by Triton Pacific with the stated goal of “transforming urology and gastroenterology care delivery across the Western States.”

Genesis Healthcare Partners is an independent urology group with 34 physicians and 14 practitioners operating out of 15 locations in the greater San Diego area. In addition to its clinical program covering urology, gastroenterology, and radiation oncology, it offers ancillary services such as pathology lab, pharmacy, and three radiation oncology sites.

Triton Pacific has capitalized Urology Partners of America with a material capital commitment to fund partnerships with urology and gastroenterology practices across the Western States. Beach Point Capital Management, Florac, and GMB Capital Partners also participated in the investment. Terms of the Genesis deal were not disclosed.

“[Urology Partners of America] plans to partner with physician practices to facilitate best practice sharing across the platform, the company said. “[Urology Partners of America] affiliated practices will gain access to a broader suite of services, providing a meaningful benefit to both physicians and patients. Focusing initially on the fragmented West Coast landscape, [Urology Partners of America] will build significant size, scale, and geographic coverage that will enhance the platform’s value proposition to payors.”

Triton indicated that it has “several” other physician groups committed to join the platform.

Salomon, chief executive officer of Urology Partners of America, said that it seeks to “build the business to 200+ physicians within the next few years.”

Salomon most recently served as CEO of The Oncology Institute, a Southern California-based oncology practice, and previously served as CEO of InterDent, a dental services organization. Dr. Edward Cohen, who serves as CEO of Genesis, also joins Urology Partners of America as president.

Triton Pacific Capital Partners has organized more than 50 private equity investment partnerships and a public, non-traded business development company, and has completed 27 private equity transactions. The firm’s healthcare investment team sources, acquires, and manages healthcare investments. Urology Partners of America is the healthcare team’s ninth platform investment.

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