Fort Myers medical group expands in central Florida with acquisition


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Fort Myers-based Millennium Physician Group has acquired Orlando-headquartered IMA Medical Group. Financial terms of the deal were not disclosed.

The acquisition will expand the reach in central Florida for Millennium Physician Group, which already includes 900 providers across Florida, North Carolina, Georgia and Texas. It does not have any practices in Orlando, according to its website.

IMA Medical Group employs 53 providers who operate 17 clinics from Tampa to Orlando to Ocala. Its practices, which specialize in seniors, serve more than 22,000 Medicare Advantage members, according to a statement. It was founded in 2010.

“Coming together with Millennium marks an exciting new chapter for IMA,” IMA Medical Group CEO Donna Walker says in the statement. “This partnership allows us to build on the strong foundation we’ve created while gaining the resources and scale of a larger organization.”

Millennium Physician Group, which launched in Port Charlotte in 2008, has grown into one of the largest independent physician groups in the country, according to a statement. It is an operating company within Mosaic Health, a national care delivery platform focused on expanding access to comprehensive primary care.

“This partnership unites two organizations that share the same DNA,” Millennium Physician Group CEO Tesha Simpson says in a statement about the acquisition. “IMA’s dedication to their patients, employees, clinicians and communities mirrors our own, and together we are stronger. By combining our expertise and resources, we will continue to raise the standard for value-based care while preserving the care models and relationships patients trust.”

There are no current plans to change the IMA Medical Group practice names or care models, according to a spokesperson for Millennium.

Guggenheim Securities LLC served as the financial advisor to IMA Medical Group in the transaction, while Foley & Lardner LLP served as legal counsel to Millennium Physician Group.

 

author

Elizabeth King

Elizabeth is a business news reporter with the Business Observer, covering primarily Sarasota-Bradenton, in addition to other parts of the region. A graduate of Johns Hopkins University, she previously covered hyperlocal news in Maryland for Patch for 12 years. Now she lives in Sarasota County.

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