Arsenal Capital Partners (Arsenal), a private equity firm that specialises in investments in healthcare and specialty industrial companies, has acquired Best Value Healthcare (Best Value) in partnership with its founders: Raj Naik, MD, Kimberly Ficocelli, and Dillon Moore. Best Value is a primary care platform focused on Medicare Advantage and operating in Central and South Florida. The terms of the transaction have not been disclosed.
Arsenal’s investment in Best Value reflects the firm’s interest in investing in the value-based primary care market, a large and fast-growing care provision segment uniquely positioned to drive significant value across key healthcare stakeholder groups: patients, physicians, and payers. Best Value represents a compelling investment given its scale, reputation for high-quality clinical care, focus on advancing value-based care competency, strong payer relationships, experienced management team, and opportunity to realise multiple avenues of organic and inorganic growth.
Mike Bernstein, Operating Partner of Arsenal, says: “After evaluating many of the leading primary care practices in the market, we selected Best Value as the ideal platform for what we plan to build into a best-in-class, value-based primary care organisation, serving seniors in partnership with the major Medicare Advantage payers.”
John DiGiovanni, Investment Partner of Arsenal, says: “High-quality and value-based primary care is critical to ensuring greater efficiency and innovation across care provision and better outcomes for patients. Best Value’s founders have built a leading primary care provider with an excellent clinical reputation. We look forward to partnering with the team to continue to expand the reach of this platform.”
Dr Rajankumar Naik, Co-Founder of Best Value, says, “We are excited to be partnering with the Arsenal team, which has an extensive history of investing in the healthcare space. We are confident that this strategic relationship will enhance Best Value’s ability to serve the growing need for patient-focused and outcomes-oriented primary care.”
Guggenheim Securities, LLC served as financial advisor to Best Value. Macquarie Capital Inc. served as financial advisor to Arsenal.