Summit Partners’ Acquisition of a Controlling Interest in Sound Physicians

Simpson Thacher Represents CEO and Founder of Sound Physicians on the deal

Fresenius Medical Care (NYSE:FMS; ETR:FRE) finalized the sale of its controlling interest in Sound Inpatient Physician Holdings in a deal worth approximately $2.2 billion (EU €1.8 billion).

The company said it is divesting its holdings in Sound to a consortium led by Summit Partners.

Fresenius became a majority shareholder in Sound in 2014, just before the company acquired Cogent Healthcare. T

Last year, Sound reported revenues of approximately $1.5 billion (EU €1.3 billion) and an EBIT of approximately $110 million (EU €90 million) with a workforce of approximately 3,500 individuals.

Simpson Thacher is representing the CEO and Founder ( Robert A. Bessler) of Sound Inpatient Physicians Holdings, LLC with a team including Gregory Grogan and Eric Wolf (ECEB)

 

Involved fees earner: Gregory Grogan – Simpson Thacher & Bartlett; Eric Wolf – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Robert Bessler;

 

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Author: Ambrogio Visconti