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.

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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