New York, New York – October 2, 2017 – Deerfield Management announces its acquisition of reorganized Adeptus Health and commits to a long-term partnership that builds upon the delivery of high quality, expeditious emergency care at fair costs to communities nationwide. Deerfield is a 23-year-old healthcare investment firm focused on advancing healthcare through investment, information and philanthropy. With a customized strategy and collaborative team process, Deerfield will expand the value of this partnership beyond capital to seek an evolved healthcare service paradigm that better aligns with patient and industry needs.
Adeptus is a leader in emergency care delivering excellent patient experiences. Its team has a proven ability to identify, purchase, build, equip, stock and operate new locations while also integrating its model within hospital networks to improve patient outcomes, lowering cost to the healthcare system and leveraging other network assets for partners. Its unique site model and ability to staff locations, provides a strengthened alignment between clinicians and Adeptus’s practices.
The collaboration between the Adeptus team and Deerfield’s investment, operational and market research teams, will allow the company to seek continuous improvement and innovation in their freestanding, and fully equipped emergency rooms. Together, we plan to further integrate within hospital networks, to ultimately increase the accessibility of quality of care to patients and provide momentum for healthcare’s future in value based payment models.
“Deerfield is excited to join with the Adeptus team in its mission to provide the highest quality medical care both in the communities currently served and those we will endeavor to serve in the future,” stated Alex Karnal, Partner and Portfolio Manager at Deerfield Management Company. “The Adeptus team has proven its resiliency, creativity, and close connection through this difficult time and I am excited for them to get back to what they do best, caring for patients.”
Adeptus has been and will remain a first line of defense for emergency care, delivering high quality outcomes and convenient access to the communities it serves. While patient care will remain in the hands of the board-certified physicians and emergency trained registered nurses administering treatment, Deerfield will provide oversight and support to leverage Adeptus’ work to new markets, with a continued commitment to the quality of patient care for families, neighbors and employees in its communities.
Immediately following the emergence from bankruptcy, Frank Williams, who had served as the Chief Financial Officer of Adeptus Health Inc. (dissolved in connection with the reorganization) was appointed the new Chief Executive Officer at reorganized Adeptus. While Gregory W. Scott, formerly the Chairman and Interim Chief Executive Officer of Adeptus Health Inc., was appointed the new Executive Chairman at Adeptus. Both Mr. Williams and Mr. Scott will continue to leverage their vast leadership experience to strengthen and grow the business forward.
“We are excited to collaborate with Deerfield,” remarked Mr. Williams. “Through leveraging Deerfield’s operational expertise, data analytics and expansion capital, we could potentially grow into 1 to 2 new markets per year, greatly expanding our network of care over the next five years to match patient demand.”
Adeptus Health is a leading patient-centered healthcare organization expanding access to the highest quality emergency medical care through its network of freestanding emergency rooms and partnerships with premier healthcare providers. For more information, please visit www.adpt.com.
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.
For more information, please visit www.deerfield.com
Deerfield Management Company
Karen Heidelberger, 212-551-1600