Castle Medical Holdings has been acquired by private equity firm CareSyn Capital and is calling for practice owners looking to sell, amid its expansion.
Medical practice management group Castle Medical Holdings (CMH) has been acquired by private equity investment firm CareSyn Capital.
The Sydney-based holdings company owns medical practices under Castle Medical and Castle Hill Medical brand names, as well as data analytics tool Clinimetrix and telehealth mobile app CMxConnect.
Bolstered by the “significant financial resources” of the private equity firm, CMH will set its sights on adding primary care clinics to its portfolio and incorporate dental and cosmetic services through “strategic practice acquisitions and new facility constructions”.
All current CMH operations will remain predominantly unchanged, with additional investment into patient care and innovation, according to the practice group.
Owner of the Sydney-based financial services firm Ideas Group Mr Panbo Ye will act as CMH’s new director.
CMH CEO Ian Lowe said CareSync’s backing would allow the group to expand its market.
“We’ve been developing new opportunities to support both our existing and new practices for some time,” he said.
“With this new investment we can move forward with those plans at a faster pace.
“Helping drive clinical and financial outcomes for practices has been our goal for years, and now CMH can play a major role in providing primary care solutions to the Australian healthcare community.”
The medical group called on practice owners looking to sell to contact CMH directly.
It also invited medical practitioners to explore possibilities with CMH, particularly GPs who “stand to benefit from a proven business model and investment opportunities backed by cutting-edge systems and managed by a seasoned practice management team”, according to the group.