Private equity company acquires stake in independent physician group

Healthcare-focused private equity company Ascend Capital Partners has acquired a majority stake in Seoul Medical Group, an independent physician association.

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Ascend will provide Seoul Medical Group with capital, infrastructure and support to empower physicians and optimize operations, according to an Oct. 4 news release from Ascend.

Seoul Medical Group is physician-run and supports 4,800 providers throughout California, Georgia, Hawaii, New Jersey, New York, Virginia and Washington.

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