In the current world of healthcare, reimbursement models are shifting from fee-for-volume to fee-for-value and transferring more risk-sharing into physicians’ hands.”ĭMG’s trend-bucking strategy of deploying an integrated outpatient, physician-led approach to patient care has proven visionary. In a quote widely circulated in today’s press release, DMG CEO Mike Kasper hinted at plans for accelerated growth: “As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led.” he added, “This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG’s growth initiatives, such as populatiodscape characterized by (i) declining reimbursement, (ii) increasing competition for patient volumes, (iii) rising overhead costs, and (iv) consolidation across the healthcare sector. The Ares investment will allow the medical practice to continue the forward momentum of its aggressive expansion strategy of growing to 1,200 to 1,500 physicians in the next few years while also adding care sites and expanding ancillary services such as imaging, urgent care, physical therapy, and oncology. The company currently boasts 800+ providers – up from 480 physicians in late 2015 – located predominantly in Chicago’s western and southwest suburbs. The last few years DMG ascended to impressive heights, adding new physicians, expanding ancillary services, and completing over 10 add-on acquisitions.
The news is all the more impressive when you take into account that the Ares transaction is a mere 20 months from Summit Partners’ $250 million minority growth (debt and equity) investment into DMG in December 2015. Physicians will also retain a “significant ownership” stake in the practice management company.
Under the strategic partnership, DMG’s physician group will remain wholly physician-owned and directed. "Mike was an incredibly gifted and incredibly kind leader," said Becker's Healthcare Publisher Scott Becker.DuPage Medical Group ( DMG), one of the largest independent, multi-specialty physician groups in the nation, announced its $1.45 billion deal with private equity firm Ares Management earlier today.
He has also held executive roles with Coventry Healthcare, Aetna and Kaiser Permanente. We extend our deepest sympathies to his wife and children and ask that you respect their privacy during this difficult time." DMG's leadership team, Board of Directors, physicians, employees, patients and the entire healthcare community mourn his loss. "We are shocked and saddened by the tragic passing of our beloved leader and colleague, Mike Kasper. DMG today includes more than 700 primary care and specialty physicians in more than 100 locations.ĭMG issued the following statement Monday morning: In August 2017, the medical group secured a $1.45 billion investment from Ares Management Private Equity Group to enhance and support its growth initiatives. It is the largest independent multispecialty physician group in the state and underwent unprecedented growth under his leadership. Michael Kasper, CEO of Downers Grove, Ill.-based DuPage Medical Group, died May 4, according to a statement from DMG spokesperson Marianne Geiger.
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