Partners First Cardiology gets PE backer, plans practice acquisitions across the Southwest — 4 details

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Private equity firm Varsity Healthcare Partners invested in Partners First Cardiology, an Austin, Texas-based cardiology and cardiovascular physician practice management company focused on outpatient services, according to a Nov. 10 announcement.

What you should know:

1. With Varsity's backing, the Partners First platform will acquire "market-leading, clinically differentiated" cardiology and cardiovascular practices across the Southwestern U.S.

2. Varsity will also develop outpatient cardiac catheterization labs with Partners First's physician partners.

3. Partners First founder Rob Jardeleza will remain CEO and is a significant investor in the partnership with Varsity. Mr. Jardeleza's previous experience includes serving as COO of Edina, Minn.-based National Cardiovascular Partners and senior vice president of operations for ASC developer and operator Surgical Care Affiliates in Deerfield, Ill.

4. Financial terms of the partnership weren't disclosed.

"Together, we believe the cardiology and cardiovascular segments are ripe for consolidation and well positioned for strong growth, given the recent expansion of reimbursement for outpatient cardiology/cardiovascular procedures and PFC's experience in developing outpatient catheterization facilities with its physician partners," Mr. Jardeleza said in a prepared statement.

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