InTandem Capital Partners, a healthcare services focused private equity firm, has acquired South Florida-based Cano Health and Comfort Health, both of which will operate under the Cano Health brand.
InTandem Capital’s goal is to create a regional consolidator in primary care committed to clinical excellence and efficient operation that caters to all demographics.
Cano Health is a rapidly growing operator of “Primary Care Plus” healthcare centres focused on improving the lives of individuals, families and communities. In addition to primary medical care, Cano Health has specialty programmes in the fields of venous medicine, arthritis, allergy and weight loss. Cano Health operates advanced medical centres in both Miami-Dade and Broward counties.
Comfort Health operates Medicare HMO and Medicaid healthcare centres dedicated to enhancing the lives of the patients they serve. Comfort Health’s medical centres place emphasis on promoting healthy living and preventive care. Specialty services include two in-house pharmacies, select specialists, transportation to centres for medical services and social work services.
Through this combination, the company becomes a leader in the global capitation model of care and risk management, with an opportunity to expand already strong relationships with leading health plans. The company also runs a progressive model of fee for service practice, with physicians trained in providing a broad array of assessments and treatments that typically would be referred to a specialist environment.
InTandem Capital team members will support the development of new infrastructure designed to support accelerated growth through the opening of new locations and the pursuit of clinic acquisitions. InTandem Capital will also work with the company to take advantage of economies of scale in areas such as risk management, carrier relations, pharmacy, lab and marketing.
Dr Marlow Hernandez, Cano Health CEO, says: “As we considered the next stages and emerging needs in patient care, we knew we found the ideal partner in InTandem. Elliot and his team are strategic and knowledgeable partners, who have previously built successful healthcare service companies. They know the industry, they know the special opportunities and they understand the responsibilities around patient care. They immediately understood our challenges and opportunities.”
Gina Portilla, Comfort Health CEO, says: “Our family built this business carefully over two generations, and through our careful, personalised attention to each patient, we have developed a very loyal base of customers. We also choose our partners carefully, and we know we have made the ideal choice in both Cano Health and InTandem Capital. As we thought about the best ways to help patients going-forward, we were pleased to partner with industry professionals who bring additional expertise and resources and share our growth ambitions and our commitment to high quality medical care.”
Hernandez will serve as CEO of the company, while Portilla will join the senior management team and run the managed care operations of the business.
Elliot Cooperstone, managing partner of InTandem Capital, says: “We are pleased to partner with such dynamic management teams from Cano Health and Comfort Health. Both companies have grown impressively while maintaining wonderful cultures of caring. We will keep that spirit, while providing substantial resources that will allow the company to accelerate its growth. We have significant experience and success in this sector. We are excited to build a market leading company together.”
