Voorhees, New Jersey, October 19, 2010 – The Cooper Health System, a leading provider of comprehensive health services, medical education and clinical research in Southern New Jersey and the Delaware Valley, today acquired an equity stake in Continuum Health Alliance, LLC (“CHA” or “Continuum”). Terms of the transaction were not disclosed. Fairmount Partners LP served as financial advisor and Morgan, Lewis & Bockius LLP served as legal advisor to the Company in this transaction.
Founded in 1998, CHA is a unique medical management company offering an array of practice-based services and solutions to independent and hospital-based physician practices including revenue cycle management, client administrative services, finance and accounting services and information technology solutions and support services. CHA packages its solutions portfolio to relieve medical professionals of the time consuming constraints of practicing the “business” of medicine and overseeing its day-to-day management, while at the same time, allowing independent and hospital-affiliated physicians to increase the clinical quality and productivity of their Care Centers.
Continuum clients benefit from the expertise of nearly 250 highly experienced medical and business professionals who have demonstrated success in overseeing an aggregate client workforce of more than 1,600 employees located in approximately 75 medical offices and hospital settings. Serving clients ranging from Advocare, LLC—the greater Philadelphia region’s largest physician‐owned medical group, serving approximately 300,000 patients via 250+ physicians, specialists, and nurse practitioners at more than 75 locations throughout New Jersey and Pennsylvania—to independent and hospital‐based physician practices, school systems, municipalities, and community organizations, Continuum excels in customizing management solutions that meet the specific needs of individual clients.
CHA is led by Chairman and Chief Executive Officer Dr. John M. Tedeschi, a nationally renowned pediatrician and innovator in physician practice management solutions. With more than 35 years of practicing pediatric medicine, Dr. Tedeschi has devoted his career to developing new and innovative strategies to improve the level of care afforded to children. The medical community has repeatedly recognized Dr. Tedeschi for his leadership abilities; he has been recognized numerous times as a “Top Doc” by Philadelphia Magazine, New Jersey Monthly Magazine, South Jersey Magazine and the Best Doctors in America, Northeast Region and Best Doctors in America. Over the course of his career he has served on 50 to 75 hospital committees, most in a leadership role.
ABOUT COOPER HEALTH SYSTEM
With over 700 physicians in over 75 specialties, Cooper University Hospital offers a network of comprehensive services that include prevention and wellness, primary and specialty physician services, hospital care, ambulatory diagnostic and treatment services, and home health care within Southern New Jersey, Philadelphia and the entire Delaware Valley. Cooper offers training programs for medical students, residents, fellows, nurses and allied health professionals in a variety of specialties. Additionally, the hospital serves as Southern New Jersey’s major tertiary-care referral hospital for specialized services. These centers of excellence include: Level I Southern New Jersey Regional Trauma Center; the Cooper Cancer Institute, the Cooper Heart Institute, the Cooper Bone & Joint Institute, the Cooper Neurosciences Institute and critical care medicine. Further information can be found at www.cooperhealth.org.
ABOUT CONTINUUM HEALTH ALLIANCE, LLC
Continuum Health Alliance is a healthcare management company formed by doctors for doctors. Approaching practice management from a physician’s perspective, Continuum offers operational oversight and strategic business solutions that enable medical providers in private practices, physician groups, and hospitals to better serve their patients. The company’s comprehensive service portfolio supports the growth of new and established physician groups with dynamic solutions for administration, accounting and finance, revenue cycle management, and information technology. Further information can be found at www.challc.net.
ABOUT MORGAN, LEWIS & BOCKIUS LLC
With 23 offices in the United States, Europe, and Asia, Morgan Lewis provides comprehensive transactional, litigation, labor and employment, regulatory, and intellectual property legal services to clients of all sizes—from global Fortune 100 companies to just-conceived startups—across all major industries. The firm’s service philosophy is grounded in a disciplined approach to advancing its clients’ interests as effectively and efficiently as possible. Further information can be found at www.morganlewis.com.
Principals of Fairmount Partners acted as advisors to Continuum Health Alliance, LLC in this transaction.
Contact: Richard W. Thatcher, Jr., Managing Director & Andrew T. Greenberg, Managing Director