Latticework Capital Management, a growth oriented private equity firm focused on partnering with entrepreneurially-minded management teams to build leading healthcare companies, announced a strategic investment in First Medical Associates.
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Founded by Dr. Rakesh Malik in 2008 and headquartered in Germantown, Maryland, FMA is a trusted, patient-centered primary care provider with eleven clinics across the state. FMA’s core mission is to increase access to quality healthcare – providing personalized treatment and care coordination for patients across the health spectrum, from preventative medicine and wellness to sudden illnesses and chronic diseases.
“We are thrilled to partner with Dr. Malik and reinforce FMA’s vision, empowering FMA providers to continue delivering outstanding care and patient outcomes,” said Kyle Bradford, Managing Partner of Latticework. “We are highly impressed with the dedication of the clinicians and staff at the organization, and we look forward to supporting FMA’s providers as they continue enriching patient lives through dependable and personalized care to their communities.”
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Latticework has completed more than 150 transactions across a diverse array of healthcare subsectors. The firm employs a “top down” approach to investing, identifying industry themes and trends and focusing on areas of growth and opportunity.
“Our mission has always been to deliver compassionate, high-quality care to our local communities. We are excited to partner with Latticework to enhance care for our current communities and to increase access to care across new geographies and specialties,” said Dr. Malik, founder of FMA. “We are impressed by Latticework’s expertise and track record in scaling multisite healthcare businesses, both through de novos and add on acquisitions, and look forward to employing that playbook for our next stage of growth.”
“Access to high quality primary care is imperative for a functioning healthcare system, leading to better health outcomes and reducing downstream costs,” said Ben McCown, Principal of Latticework. “We are excited to assist Dr. Malik in expanding FMA’s reach and services to more patients.”
Latticework Capital Managing Partner Kyle Bradford, Managing Partner Steve Neumann, Principal Ben McCown, Vice President Travis Hennessey and Associate Ruslan Gabidoulline worked on the transaction.
Funds managed by PennantPark Investment Advisers, LLC provided the debt financing to support the acquisition and continued growth of FMA.
McGuireWoods LLP served as legal counsel to Latticework, Norton Rose Fulbright LLP served as legal counsel to PennantPark, and Roetzel & Andress LP served as legal counsel to FMA in the transaction.
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Source – businesswire
