Goldman Sachs Asset Management and Charlesbank Capital Partners Complete Acquisition of MDVIP Primary Care Network

MDVIP, the national leader in personalized membership-based healthcare, today announced that the Private Equity business within Goldman Sachs Asset Management and funds affiliated with Charlesbank Capital Partners have completed the acquisition of MDVIP from Leonard Green & Partners and Summit Partners. The transaction gives Goldman Sachs and Charlesbank majority ownership of the company. Financial terms were not disclosed.

MDVIP leads the market in membership-based medicine with a national network of approximately 1,100 primary care physicians serving 362,000 patients. In the MDVIP model, doctors maintain smaller practices, which enables them to spend more time with patients and provide more attentive, individualized care compared to traditional, high-volume practices. Patients receive the MDVIP Wellness Program, a comprehensive yearly health assessment that includes advanced diagnostic tests and screenings to give a more complete picture of their overall health. Using the results, physicians provide education and coaching to help patients make healthier lifestyle choices, prevent disease and achieve their wellness goals.

“For more than two decades, MDVIP has redefined primary care for both physicians and patients to enhance their experience and improve healthcare outcomes,” said MDVIP Chairman and CEO Bret Jorgensen, who will continue to lead the company. “With this investment from Goldman Sachs and Charlesbank, MDVIP is ideally positioned to advance its strategic growth initiatives and continue expanding its portfolio of services to meet increasing demand for more personalized care.”

Commenting on the acquisition, Jo Natauri, Partner and Global Head of Private Healthcare Investing within Goldman Sachs Asset Management, said, “MDVIP has differentiated itself with a proven model, national footprint, reputation and patient satisfaction scores that exceed healthcare industry benchmarks. We are excited to collaborate with Charlesbank and the MDVIP management team to build on the company’s leadership and strengths in primary care.”

“We are pleased to have completed the MDVIP transaction with our partners at Goldman Sachs,” added Brandon White, Managing Director at Charlesbank Capital Partners. “MDVIP has developed a highly successful business model with multiple avenues for growth, and we look forward to supporting their continued momentum.”