TPG Capital’s Investment in Kelsey-Seybold Clinic

Sidley Austin LLP represented TPG Capital in its investment in Kelsey-Seybold. Proskauer and Jackson Walker acted as special health care counsel to Kelsey-Seybold Medical Group.

Kelsey-Seybold Clinic (Kelsey-Seybold), the nation’s first Accredited Accountable Care Organization recognized by the National Committee for Quality Assurance (NCQA), announced a strategic partnership with TPG Capital, the private equity platform of global alternative asset firm TPG. TPG Capital has made a non-controlling, strategic investment in Kelsey-Seybold Management Services, the management services organization serving the Kelsey-Seybold Medical Group. Kelsey-Seybold’s physician leadership maintains local control of the organization in the partnership.

The partnership provides Kelsey-Seybold with additional capital and strategic expertise to help accelerate the growth and expansion of its Accountable Care Organization and care delivery model to more geographic locations and partners in the Greater Houston area. Under the terms of the agreement, Kelsey-Seybold Medical Group remains 100 percent physician-owned and physician-governed. Additional terms of the partnership were not disclosed.

Evercore served as an advisor to Kelsey-Seybold in this transaction. William Blair and J.P. Morgan served as financial advisors to TPG Capital.

The Sidley team was led by Scott Parel (Picture) for transactional matters and Paul Kalb for regulatory matters, and included partners Sara Duran, Trevor Wear as well as associates Jon Zucker, Courtney Gilberg and Julie Westbrook.

The Proskauer team included partner Rick Zall (Health Care) and associate Elizabeth (Betsy) Siegel (Health Care).

The Jackson Walker team  included Patrick B. Tobin, Byron F. Egan, Shari Y. Mao, Arturo Cavazos, Jeffery P. Drummond, Kathleen D. Cullen, Steven D. Moore, Ronald D. Kerridge, Alyca Riley, James Richardson, Chuck Campbell, W. Gary Fowler, Greta E. Cowart, Julia W. Mann, Noah Speck, Taylor McDowell, and Eve M. Searls.

Involved fees earner: Chuck Campbell – Jackson Walker L.L.P.; Arturo Cavazos – Jackson Walker L.L.P.; Greta Cowart – Jackson Walker L.L.P.; Kathleen Cullen – Jackson Walker L.L.P.; Jeffery Drummond – Jackson Walker L.L.P.; Byron Egan – Jackson Walker L.L.P.; Gary Fowler – Jackson Walker L.L.P.; Ronald Kerridge – Jackson Walker L.L.P.; Julia Mann – Jackson Walker L.L.P.; Shari Mao – Jackson Walker L.L.P.; Taylor McDowell – Jackson Walker L.L.P.; Steven Moore – Jackson Walker L.L.P.; James Richardson – Jackson Walker L.L.P.; Alyca Riley Garrison – Jackson Walker L.L.P.; Eve Searls – Jackson Walker L.L.P.; Noah Speck – Jackson Walker L.L.P.; Patrick Tobin – Jackson Walker L.L.P.; Elizabeth Siegel – Proskauer Rose LLP; Richard Zall – Proskauer Rose LLP; Sara Garcia Duran – Sidley Austin LLP; Courtney Gilberg – Sidley Austin LLP; Paul Kalb – Sidley Austin LLP; Scott Parel – Sidley Austin LLP; Trevor Wear – Sidley Austin LLP; Julie Westbrook – Sidley Austin LLP; Jon Zucker – Sidley Austin LLP;

Law Firms: Jackson Walker L.L.P.; Proskauer Rose LLP; Sidley Austin LLP;

Clients: Kelsey-Seybold Medical Group; TPG Capital;

Author: Ambrogio Visconti