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Duff & Phelps Advised North Texas Specialty Physicians on Its Sale to Southwestern Health Resources

Duff & Phelps Advised North Texas Specialty Physicians on Its Sale to Southwestern Health Resources

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In May 2018, an affiliate of Southwestern Health Resources ("SWHR") acquired NTSP Holding Company LLC and its subsidiaries and affiliated entities, including: (i) the assets of North Texas Specialty Physicians ("NTSP"), a large Texas-based independent physician association; (ii) Care N' Care Insurance Company of Texas, Inc., a Medicare Advantage plan; (iii) Silverback and (iv) Health-E-Care (collectively, the "Company").

Duff & Phelps served as the exclusive financial advisor to the Company and provided M&A advisory and due diligence services in connection with the sale transaction.

About the Company

The Company is comprised of a family of entities, which provide physician services, care management/utilization management, administrative services and Medicare Advantage (MA) managed care services in the greater Dallas-Fort Worth area, including:

  • North Texas Specialty Physicians, a Texas not-for-profit formed in 1995, has grown into a market-leading IPA with 700+ participating primary care physicians and specialists, and over 84,000 MA members;
  • Care N' Care Insurance Company of Texas, Inc. was formed in 2008 when NTSP created its own doctor-directed MA plan, and serves approximately 11,000 MA members in the Dallas-Fort Worth market;
  • Silverback was created to perform care management, risk adjustment services, third party claims processing, and serve as a sales agency; and
  • Health-E-Care, a primary care organization with an extensive focus, was created in 2012 to address the needs of patients whose medical requirements exceed the capabilities of a typical primary care practice.

About Southwestern Health Resources

SWHR is an integrated not-for-profit regional health network formed in December 2015 by Arlington-based Texas Health Resources and Dallas-based UT Southwestern Medical Center. The network combines the strengths of one of the nation's preeminent academic medical centers and one of the largest faith-based, nonprofit health care delivery systems in the United States; comprising 31 hospitals, over 650 outpatient facilities and clinics and more than 3,000 physicians.

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