Bloomfield, NJ, September 4, 2018 – New Jersey Urology (“NJU”), the leading urology service provider in New Jersey, and J.W. Childs Associates (“JWC”), a leading middle-market private equity firm, have formed Urology Management Associates (“UMA”) that will provide administrative services to NJU. The establishment of UMA enables NJU to continue to focus on providing world-class urology services while remaining a physician-led organization. UMA plans to partner with additional urology groups to provide administrative practice management services initially in the greater New York metropolitan area with longer range plans to expand nationally.
Recognizing the benefits of scale, NJU recently merged with Delaware Valley Urology (‘DVU”) to become the leading provider of urology services in New Jersey and the largest single-specialty urology group in the U.S. NJU provides complete urologic care and comprehensive individualized treatment for its patients, including men’s health, women’s health and cancer care.
Dr. Lewis Gold and Dr. Mitchell Eisenberg, operating partners at JWC and former President and CEO of Sheridan Healthcare, respectively, will join the board of UMA along with Adam Suttin, Managing Partner, David Fiorentino, Partner and Jeff Miller, Principal. Dr. Gold commented, “We are very excited to collaborate with NJU to continue to develop and expand a best-in-class urology practice management organization.”
Dr. Martin Goldstein, who was appointed President of NJU and Senior Vice President of Corporate Development and Acquisitions of UMA said, “We look forward to working with J.W. Childs Associates on expanding business opportunities for UMA while maintaining NJU’s medical practice independence. JWC’s expertise in managing large-scale practices and UMA’s ability to handle the significant administrative burden of NJU’s non-clinical operations will enable NJU and its physicians to continue to focus on high quality clinical care to meet the demands of our patients.” Victor Houtz who has been the COO of NJU since 2009 has been named COO at UMA.
The Bloom Organization negotiated on behalf of the NJU and DVU physicians. Mr. Henry Bloom, founder of The Bloom Organization, said, “Forming UMA shortly after the consummation of the NJU and DVU merger took an incredible effort from all parties and I commend everyone involved. I have represented physicians for the last 30 years and I believe that the growth potential for physician services is better now than I have ever seen. We found a great partner in JWC and its operating executives. I am excited to see this organization execute on its growth strategy in the coming years.”
J.W. Childs Associates is a Boston-based private equity firm focused on investing in middle-market growth companies. Since inception in 1995, JWC has invested $3.7 billion of equity capital in 50 companies across the healthcare, consumer, and specialty retail/e-commerce industries. The firm’s success has been built on its industry focus and the extensive operating expertise of its partners.
The Bloom Organization (www.bloomllc.com) advised NJU on the transaction with DLA Piper LLP serving as its legal counsel. McDermott Will & Emery LLP advised J.W. Childs.