Blue Sea Capital Invests in Leading Provider of Concierge Healthcare Support ServicesApril 1, 2019
Blue Sea Capital LLC (“Blue Sea”) announced today that it has, in partnership with management, made a significant investment in SignatureMD, Inc. (“SignatureMD” or the “Company”) to position the Company for continued growth. Matthew Jacobson will continue in his role as CEO and will maintain a meaningful ownership position.
Headquartered in Marina Del Rey, California, SignatureMD is a leader in membership-based healthcare, providing initial conversion and ongoing support services for physicians shifting from traditional medical practices to concierge medicine. Founded in 2006, SignatureMD is one of the nation’s largest providers of support services to concierge medicine physicians, with an expanding network of well over 100 affiliated primary care physicians and specialists serving nearly 25,000 members across 28 states.
“We are proud of the outstanding and dedicated physicians that SignatureMD supports in delivering best-in-class service to an ever-expanding member base across the country,” said Matthew Jacobson, Founder and Chief Executive Officer of SignatureMD. “We are enthusiastic about our new partnership with Blue Sea, which brings additional resources and healthcare industry experience to accelerate SignatureMD’s growth and geographic expansion, while maintaining our high level of quality support to existing and future affiliated physicians.”
J.R. Davis, Managing Partner at Blue Sea, commented, “Having spent many years around the primary care space, we believe that SignatureMD’s innovative business model represents concierge medicine version 2.0, providing a compelling value proposition to physicians and patients alike, truly enhancing outcomes for all constituencies. This progressive and unique model in concierge medicine, we believe, represents the future of personalized care while delivering the most attractive, physician- and patient-friendly solution. We are thrilled to be partnering with Matthew Jacobson and the Company’s management team as SignatureMD accelerates its growth trajectory in concierge medicine support services to become an industry-leading platform.”
Added Scott Ames, Vice President at Blue Sea, “We are excited to invest in SignatureMD and to continue building on the Company’s historical track record of providing best-in-class services to affiliated physicians and members. Our investment, coupled with SignatureMD’s differentiated business model, positions the Company well for growth acceleration in an increasingly consumer-driven healthcare landscape.”
CapM Advisors acted as financial advisor to SignatureMD. Sheppard Mullin acted as legal counsel to SignatureMD. McDermott Will & Emery acted as legal counsel to Blue Sea. Financing for the transaction is being provided by Five Points Capital.
Founded in 2006 and headquartered in Marina Del Rey, California, SignatureMD (www.signaturemd.com) is one of the nation’s largest providers of support services to concierge medicine physicians, with an expanding network of well over 100 affiliated primary care physicians and specialists serving nearly 25,000 members across 28 states.
Blue Sea Capital (www.blueseacapital.com) is a private equity firm based in West Palm Beach, Florida, that invests in growth-oriented lower middle market companies with EBITDA of up to $30 million. The firm has over $1.3 billion in committed capital and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented leaders and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation.