Wednesday, April 29, 2020
InnovaCare Health, a national leader in integrated and value-based healthcare services, announced today the company has signed an agreement to acquire Trinity Medical Group, one of the largest providers of primary care services to seniors in Polk County, Fla.
With practices in Lakeland and Winter Haven, Trinity Medical Group treats more than 50,000 patients annually and employs more than 100 staff members. The group’s eight providers will continue to serve current patients and accept new ones. Founder Dr. Dane Parker, and his son Dr. Adam Parker, will maintain ownership stakes as partners of the organization.
“The opportunity to partner with InnovaCare gives us access to the tools, expertise and resources needed to elevate our care to an even higher standard for the communities and patients we serve,” said Dr. Dane Parker. “Both InnovaCare and Trinity Medical Group have strong roots in managed care and understand what it takes to meet patients’ needs with the highest quality care in the most appropriate, cost-effective setting. Finalizing this natural partnership creates a bright future for Trinity Medical Group and all those who depend on us.”
The acquisition marks the second in the past three years for InnovaCare in the Central Florida region, after Orlando Family Physicians joined the White Plains, N.Y.-based company in late 2018. That same year, InnovaCare also launched MMM of Florida, a managed care plan serving Medicare-eligible individuals in Broward, Miami-Dade and Palm Beach counties. Its sister company, MMM Healthcare, covers more than 500,000 members in Puerto Rico and has maintained a 4.5-star quality rating from the Centers for Medicare & Medicaid Services (CMS) since 2017. Similarly, Trinity Medical Group maintains a 5-star quality rating on the majority of the practice’s Medicare lives.
“Trinity Medical Group is a clear fit for our growing family because of the priority its providers and staff put on things like delivering high-quality, coordinated care and establishing meaningful patient-provider relationships,” said Richard Shinto, M.D., President and CEO of InnovaCare. “As we continue this exciting chapter of growth for our organization – with the support of a world-class equity partner in Summit Partners – we are thrilled to join forces with another strong provider group who aligns with our values and believes in delivering excellent, value-based care.”
Over the years, Trinity Medical Group has expanded its presence in Central Florida through primary care, physical therapy and chiropractic and urgent care services. In addition to Trinity Medical Group, other entities joining InnovaCare include Lakeland Spine Center, formed as Parker Chiropractic in 1987, and Owl Now Urgent Care, which launched in 2005.