in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla. (January 5, 2021) – Farlie Turner & Co., LLC (“Farlie Turner”), a leading investment bank serving middle market companies, is pleased to announce that it advised Healthtek Solutions, LLC (“Healthtek” or the “Company”), a healthcare portfolio company of TG Capital, LLC (“TG Capital”), in its sale to 1585 Capital Corp, a healthcare-focused investment firm. Terms of the transaction were not disclosed.
Healthtek is the parent company of New York Network IPA, Inc. (“NYNM”), one of the largest independent practice associations (“IPAs”), which empowers its network of participating providers and payors to increase patient access, improve the quality of patient care, and lower the overall cost of healthcare through the intelligent application of technology, innovation and purchasing power. NYNM has operated for over 20 years, and focuses on providing contracting, claims management, and information management support services to over 2,000 high performing independent physicians and healthcare providers in New York State.
“We appreciate Farlie Turner’s outstanding guidance, industry expertise, and dedication and are excited for the Company’s future prospects with its new partners,” said Johnathan Robertson, Managing Director of TG Capital.
Commenting on the transaction, Mike Turner, Managing Director of Farlie Turner, remarked: “We are very pleased to have represented TG Capital in another successful portfolio company transaction. During their ownership, the TG Capital team enhanced the NYNM platform to make it more efficient and attractive for its payors and providers and positioned it for meaningful growth going forward.”
Scott Saunders, Managing Director of Farlie Turner, added: “The Healthtek transaction represents a great outcome for the Company’s investors and positions NYNM well to continue to serve as a strong solutions partner to health plans and healthcare providers, especially as the environment continues to reward the provision of value-based care with strong quality metrics.”
Besides Messrs. Turner and Saunders, the Farlie Turner transaction team included Kyle Jones and Brandon Kaye.