ZT Corporate and Physicians Surgical Network Affiliates Announce Strategic Partnership to Fuel Growth Strategy
Companies will collaborate to invest in development and acquisition of acute-care health facilities through its health systems, Altus Health and Legent Health
HOUSTON, July 23, 2020 /PRNewswire/ -- ZT Corporate, a private equity firm that specializes in healthcare and automotive investments, and Physicians Surgical Network Affiliates (PSN Affiliates), a privately held provider of specialized healthcare and surgical services through Legent Health facilities, today announced that the two Texas-based companies established a strategic partnership to invest in development and acquisition of acute-care health facilities in Texas and Florida.
The strategic partnership will leverage PSN Affiliate's network of acute care surgical hospitals and ambulatory surgery centers and ZT Corporate's healthcare portfolio company, Altus Health, a network of specialized physicians, hospitals, emergency rooms and other acute-care facilities. The partnership will utilize the parties' core expertise in capital sponsorship and health care services, with ZT Corporate serving as the capital sponsor and PSN Affiliate as the operations partner. PSN Affiliates will become part of ZT Corporate's overall healthcare portfolio.
PSN Affiliates currently operates facilities in El Paso, San Antonio, Carrollton, Austin, Frisco, Plano and is headquartered in Irving. With ZT Corporate's capital support, the partnership will allow the company to expand outside of Texas into the growing Florida market.
Taseer Badar, Chairman and Chief Executive Officer of ZT Corporate, said, "ZT Corporate's investments in healthcare have always been built on the idea that empowering physicians to provide the best care is good business. This strategic alliance with PSN Affiliates aligns perfectly with our core philosophy of taking excellent care of patients and operating our healthcare facilities in a way that allows our physicians to focus on patients. This partnership formalizes the extraordinary work we both do and brings us one step closer to achieving our goal of becoming the largest, privately held acute care company in Texas."
Jordan Fowler, Founding and Managing Partner and Chief Executive Officer of PSN Affiliates, LLC, said, "We're excited and honored to enter into this partnership with ZT Corporate. Together, we are elevating and redefining patient experiences. This partnership allows PSN Affiliates to grow our footprint with a capital sponsor who truly understands the business of providing acute healthcare and shares our focus on best-in-class business operations that free up the physicians to deliver best-in-class health care."
Kraig Killough, Managing Partner of ZT Corporate and President of Altus Health, said, "Much like Altus Health, PSN Affiliates has a proven track record of providing exceptional care to patients across Texas. We decided to partner with PSN Affiliates because their leadership and business model complement our vision for a true community-based healthcare system. Our goal is for all Texans to be able to receive high-quality health care, close to home, without the frustrating inefficiencies of traditional healthcare systems."
Sheheryar Shah, Group Chief Operating Officer & Chief Investment Officer of ZT Corporate, said, "ZT Corporate's investment team is excited about this partnership and the opportunities to scale our proven model of physician-empowered community health care. We vet a lot of deals in the acute-care industry and this partnership with PSN Affiliates fits hand-in-glove with our model. The fact that PSN Affiliates' footprint completes the Texas metro footprint for us makes this partnership a natural fit."
About ZT Corporate
Established in 1997, ZT Corporate is a private equity firm with an active portfolio in healthcare services and automotive dealerships. With offices in Houston and New York, the team provides full-service wealth management services to its clients and investors and creates value through a broad range of financial channels, including traditional and alternative investments. ZT Corporate's active healthcare portfolio operates under Altus Healthcare and Neighbors, with automotive dealerships branded under the ZT Motors umbrella. For more information: www.ztcorporate.com
About Physicians Surgical Network Affiliates
Physicians Surgical Network Affiliates is a privately held provider of specialized healthcare and surgical services through Legent Health facilities. Headquartered in Irving, Texas, the network of Legent Health facilities is comprised of acute care surgical hospitals and ambulatory surgery centers. PSN Affiliates and Legent Health aim to preserve private practice by providing patients with high-quality healthcare at reduced cost, in doing so, transforming the healthcare experience. For more information: www.psnaffiliates.com
Media Contact
Victoria Cook
Pierpont Communications for ZT Corporate
[email protected], 713-627-2223
SOURCE ZT Corporate
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