• Corporate Finance Transactions

BGL Aids Health First in Acquisition of Melbourne Internal Medicine Associates

February 27 2013

Brown Gibbons Lang & Company (BGL) announced today the acquisition of Melbourne Internal Medicine Associates, P.A. (MIMA) by Health First, Inc.  BGL acted as exclusive financial advisor to Health First.

Based in Melbourne, Florida, MIMA is a multi-specialty physician group with 16 physician offices, ancillary services, and walk-in clinic locations throughout Central and South Brevard County. Since its founding in 1969, MIMA has expanded to 137 physicians in 31 specialties, including cardiology, dermatology, endocrinology, ENT, family practice, gastroenterology, general surgery, hematology/oncology, infectious diseases, internal medicine, nephrology, neurology, OB/GYN, orthopaedics, pathology, pediatrics, physician medicine and rehabilitation, radiology, rheumatology, sleep medicine, urology, and weight loss surgery. 

Founded in 1995, Rockledge, Florida-based Health First is Central Florida's only fully integrated health system, which is comprised of four not-for-profit hospitals, including Cape Canaveral Hospital, Holmes Regional Medical Center, Palm Bay Hospital, and Viera Hospital; outpatient and wellness services; commercial and Medicare health plans; and a multi-specialty physician group. With the acquisition, Health First will combine MIMA physicians with its existing physician network to form a new entity, the Health First Medical Group, comprised of approximately 250 physician providers—the largest multi-specialty physician group serving Brevard County.

“BGL played a valuable role in the acquisition of MIMA,” said Joe Felkner, Chief Financial Officer of Health First “which represents an important strategic acquisition for Health First and patients in our community, providing them with access to an expanded network of primary care physicians, specialists, and ancillary services to address all levels of medical care."

Manfred Steiner, a Managing Director who led the BGL transaction team said, “We are very pleased to have served Health First in this highly important strategic acquisition which strengthens Health First’s physician partnerships and furthers its initiative to provide high quality patient care.”
 

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Related industry: Healthcare & Life Sciences
Related service: Mergers & Acquisitions
Related pages: Critical Access Hospital Conference

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