IPC, which was advised on the deal by Cain Brothers, will replace NSH’s current owners, Ferrer Freeman & Co., Charlesbank Capital Partners and JPMorgan Asset Management.
David Crane, a senior advisor to IPC, chairman of New Hope Bariatrics and former CEO for Medcath, will become chairman of NSH’s Board of Directors.
John G. Rex-Waller, president and CEO of NSH, said of the acquisition in an IPC news release, “IPC’s capital strength will allow us to reinvigorate our acquisition program and enhance our ability to add services and invest in the latest proven technology to empower physicians to deliver better outcomes for patients,” according to an IPC news release.
McGuireWoods was one of the law firms that worked with IPC on this transaction. Krist Werling, Scott Becker and Rob Marks led the McGuireWoods team.
The terms of the transaction were not disclosed. The transaction is expected to close around the end of January.
Read the IPC news release about the acquisition of National Surgical Hospitals.
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