A consortium of private equity investors led by The Carlyle Group is considering a acquiring California’s Heritage Provider Network in a deal that could be worth up to $10 billion, according to a report by Reuters.
A consortium of private equity investors led by The Carlyle Group is considering a acquiring California’s Heritage Provider Network in a deal that could be worth up to $10 billion, according to a report by Reuters.
Heritage, founded by physician Richard Merkin, MD, who remains the majority shareholder, has reportedly been on the lookout for a buyer for over a year.
The report cites unnamed sources as saying that Heritage, which provides primary care across California serving about 700,000 individuals, and also has a significant presence in Arizona and New York, generates annual cash flow of around $600 million.
