Apollo To Make An Up To $470M Investment In Health Care Biz

By McCord Pagan (February 9, 2021, 6:03 PM EST) -- Apollo Global Management said Tuesday it will make an up to $470 million investment in emergency medicine and hospitalist services business US Acute Care Solutions as the physician-owned group buys out the minority stake of a separate private equity firm.

Apollo's preferred equity stake in the Canton, Ohio-based business facilitates a full recapitalization of the company, as well as an exit of Welsh Carson Anderson & Stowe, the asset manager said. As a result of the deal, USACS will be 90% owned by its physicians and continue to be controlled by its doctors, the health care group said in a separate...

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