SOUTHLAKE, Texas--(BUSINESS WIRE)--Ancor Capital Partners is pleased to announce the acquisition of DuvaSawko, a boutique emergency-physician owned and operated revenue-cycle and practice-management company predominantly serving emergency physician groups and hospital-based emergency departments.
Headquartered in Ormond Beach, Fla., the company was established in 1998 by CEO Charles Duva, MD, FACEP, and Vice President and CIO William Sawko, MD, FACEP, because billing companies largely were not attentive to emergency management groups and their need for prompt reimbursement and detailed, useful reporting. DuvaSawko currently employs more than 240 employees and serves nearly 30 clients with millions of annual patient visits across 70+ facilities in 12 states.
“We are pleased to partner with Drs. Duva, Sawko and the management team in this exciting growth company,” said J. Randall Keene, Partner, Ancor Capital Partners. “DuvaSawko has a similar philosophy to Ancor on the importance of corporate culture and how its positive influence can dramatically impact a company."
Keene said Drs. Duva, Sawko and senior management are reinvesting with Ancor in the transaction and will play key roles going forward.
Yukon Partners, based in Minneapolis, provided mezzanine capital and an equity co-invest in the transaction. This is the fifth investment opportunity in which Ancor and Yukon have partnered together.
DuvaSawko (www.duvasawko.com) is the fifth healthcare company in Ancor's currently held portfolio of companies.
About Ancor Capital Partners
Ancor Capital Partners, based in the Dallas/Fort Worth Metroplex town of Southlake, Texas, is an operations-oriented private equity firm focused on lower middle-market companies with EBITDA of $5-$15 million. Extensive operational experience gives the Ancor team a unique understanding of the critical business issues faced by lower middle-market companies. Ancor’s proven track record includes 46 acquisitions to date in health care, consumer and other industries. For more information about Ancor, visit www.ancorcapital.com.