Duff & Phelps Advised North Texas Specialty Physicians on Its Sale to Southwestern Health Resources

In May 2018, an affiliate of Southwestern Health Resources ("SWHR") acquired NTSP Holding Company LLC and its subsidiaries and affiliated entities, including: (i) the assets of North Texas Specialty Physicians ("NTSP"), a large Texas-based independent physician association; (ii) Care N' Care Insurance Company of Texas, Inc., a Medicare Advantage plan; (iii) Silverback and (iv) Health-E-Care (collectively, the "Company").

Duff & Phelps served as the exclusive financial advisor to the Company and provided M&A advisory and due diligence services in connection with the sale transaction.

About the Company

The Company is comprised of a family of entities, which provide physician services, care management/utilization management, administrative services and Medicare Advantage (MA) managed care services in the greater Dallas-Fort Worth area, including:

• North Texas Specialty Physicians, a Texas not-for-profit formed in 1995, has grown into a market-leading IPA with 700+ participating primary care physicians and specialists, and over 84,000 MA members;
• Care N' Care Insurance Company of Texas, Inc. was formed in 2008 when NTSP created its own doctor-directed MA plan, and serves approximately 11,000 MA members in the Dallas-Fort Worth market;
• Silverback was created to perform care management, risk adjustment services, third party claims processing, and serve as a sales agency; and
• Health-E-Care, a primary care organization with an extensive focus, was created in 2012 to address the needs of patients whose medical requirements exceed the capabilities of a typical primary care practice.

About Southwestern Health Resources

SWHR is an integrated not-for-profit regional health network formed in December 2015 by Arlington-based Texas Health Resources and Dallas-based UT Southwestern Medical Center. The network combines the strengths of one of the nation's preeminent academic medical centers and one of the largest faith-based, nonprofit health care delivery systems in the United States; comprising 31 hospitals, over 650 outpatient facilities and clinics and more than 3,000 physicians.