Consolidation of healthcare service providers continued at a rapid pace in the first quarter of 2022. The acquisition of a Queens and Long Island, New York multi-specialty physician practice by Summit Health is OlenderFeldman’s healthcare M&A deal of the first quarter 2022.
OlenderFeldman LLP, represented Medical Associates in connection with its sale to New York-based healthcare practice network Summit Health. Medical Associates is a multispecialty physician group that provides primary and preventative care throughout Queens and Long Island. With offices in Queens, Nassau, and Suffolk counties, the acquisition enables Summit Health to strategically expand its growing presence in New York, following the opening of two Manhattan multispecialty family practices.
Craig D. Bronsnick, Esq., Partner in the OlenderFeldman Corporate & Transactional department and leader of the firm’s Healthcare practice, managed a team that also included the firm’s Employment and Real Estate practices in negotiations with Summit Health in order to transition all clinical and non-clinical employees and multiple real property lease negotiations.
“Dr. Rajesh Raina built Medical Associates into a preeminent primary and preventative care practice of board-certified doctors throughout Queens and Long Island over two decades,” said Mr. Bronsnick. “We were delighted to work with the Medical Associates team on all aspects of this deal from Letter of Intent through consummation of the transaction. Summit Health now avails itself of Medical Associates’ robust reputation for quality while facilitating a seamless management transition with continuity of outstanding patient care.”
Summit Health has more than 2,500 providers, 12,000 employees, and over 340 locations in New Jersey, New York, Connecticut, Pennsylvania, and Central Oregon.
