Tygon Peak Capital Invests in Two Dallas-Area Primary Care Businesses

NEW YORK, Dec. 5, 2023 /PRNewswire/ -- Tygon Peak Capital ("Tygon Peak"), a New York-based private equity firm that invests in the North American lower middle market, today announced it has created a new healthcare platform (the "Platform") through its investment in two primary care businesses, Doctors of Internal Medicine ("DIM") and Internal Medicine Associates of Plano ("IMAP"), both located in the Dallas, TX metropolitan area. Tygon Peak led the investment in partnership with Greyrock Capital Group and management. Sunflower Bank provided senior debt financing for the transactions, the terms of which were not disclosed.

DIM, founded in 1999 by Dr. Ladan Bakhtari, has three locations, in West Plano, McKinney, and East Plano / Richardson, TX, with a total staff of approximately 60 people. IMAP, founded in 2007 by Dr. Arash Tirandaz, operates offices in Plano and Frisco, TX, with a total staff of approximately 50 people.

DIM and IMAP will  serve as the foundation for Tygon Peak's internal medicine platform, which will cater to working professionals and the Medicare population. The Platform will provide a broad suite of services, including primary care, geriatrics, endocrinology, radiology and cardiology testing, allergy, chronic care management, lab testing, and cosmetic services. Drs. Bakhtari and Tirandaz will continue as Co-CEOs of the Platform.

Haranjeet Narulla, Managing Partner of Tygon Peak, said, "We are excited to partner with Dr. Bakhtari and Dr. Tirandaz, both highly accomplished physicians who are also successful entrepreneurs. Their practices are well-positioned to benefit from the increasing national emphasis on value-based care, which focuses on the provision of better health outcomes at a lower cost. By offering value-based services, IMAP and DIM will provide efficient, equitable, and comprehensive care that promotes good health and helps patients and caregivers thrive."  

"Tygon Peak believes there is a significant opportunity to establish a value-based, high-quality, patient-focused primary care platform," said Egor Bulavintsev, Vice President at Tygon Peak. "Our goal is to build scale by expanding services across the Platform's existing locations, recruiting additional medical and managerial talent, and investing in industry-leading technology and systems. Over time, we expect to grow both organically and through strategic acquisitions, thereby strengthening our presence in North Texas, throughout the state, and eventually, across the southern U.S."

"We believe our patient-centric philosophy has been validated through this partnership. This focus on serving the needs of our patients has allowed us to develop a strong reputation, and will allow our partnership with Tygon Peak to flourish," said Dr. Tirandaz. "It is validating to find a partner that shares our values and will support our growth."

Dr. Bakhtari noted, "We are delighted to be working alongside the Tygon Peak team. Our patient-first focus has allowed us to grow our roster of top-notch providers and expand into new geographies. We look forward to continuing to deliver compassionate care to our existing and new patients." 

McGuireWoods served as legal advisor and CohnReznick LLP served as accounting and tax advisor to Tygon Peak.

About Tygon Peak
Tygon Peak Capital is a New York-based private equity firm focused on investing in market-leading, lower middle market companies in North America. Tygon Peak invests in businesses and situations where the backgrounds, experiences, and networks of its partners can create additional value. The firm provides flexible capital, creative solutions, in-house operating expertise, familiarity with regulated industries, and comfort with organized labor to help build extraordinary businesses both organically and through acquisitions. Tygon Peak invests in industrial, manufacturing, business services, aerospace and defense, federal services, healthcare, and other regulated industries. Visit www.tygonpeakcapital.com for more information.

About Greyrock Capital Group
Greyrock Capital Group provides junior capital to finance buyouts, recapitalizations, and the internal growth needs of middle-market companies. Formed in 2002 and currently investing out of its sixth fund, the Greyrock team has over 150 years of collective experience and have invested in over 125 platform transactions with companies operating in a wide range of industries. Visit www.greyrockcapitalgroup.com for more information.

Contact:
Lambert
Jennifer Hurson
845-507-0571
[email protected]

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SOURCE Tygon Peak Capital