Jackson Walker acted as chief Texas and regulatory counsel for Kelsey-Seybold Clinic in the negotiation and closing of a substantial strategic equity investment by TPG Capital. Co-counsel on the deal included Simpson Thacher & Bartlett, Proskauer Rose, and Greenberg Traurig.
Through this partnership, Kelsey-Seybold will leverage the additional capital and TPG’s strategic expertise to help accelerate the expansion of its Accountable Care Organization and care delivery model. Under the terms of the agreement, Kelsey-Seybold remains fully owned and governed by physicians. Additional terms were not disclosed.
Founded in 1949, Kelsey-Seybold Clinic is Houston’s premier multispecialty group practice and is the nation’s first accredited Accountable Care Organization (ACO) recognized by the National Committee for Quality Assurance. Since 2013, the Clinic has opened or expanded 16 clinic locations. Kelsey-Seybold also owns its own Medicare Advantage HMO, the only five-star rated HMO in Houston.
Tony Lin, MD, Chairman and Managing Director of Kelsey-Seybold, said in a statement: “We have spent the past 10 years expanding our locations, adding high-quality outpatient services, and bringing in new technology to meet patient needs. While our measured approach has helped meet the growing needs of employers, health plans, and partners – our vision for this organization requires the investment and expertise of a group like TPG Capital to help us to accelerate our growth.”
Under the leadership of Edgar “Jed” C. Morrison, Jr., the multi-disciplinary Jackson Walker team included Patrick B. Tobin, Byron F. Egan, Shari Y. Mao, Arturo Cavazos, Jeffery P. Drummond, Kathleen D. Cullen, Steven D. Moore, Ronald D. Kerridge, Alyca Riley, James Richardson, Chuck Campbell, W. Gary Fowler, Greta E. Cowart, Julia W. Mann, Noah Speck, Taylor McDowell, and Eve M. Searls.
To learn more about this transaction, view Kelsey-Seybold’s news release and Houston Business Journal’s “Kelsey-Seybold Clinic nabs private equity funding, plans Houston-area expansions.”*
*A subscription is required to view the Houston Business Journal article
Edgar “Jed” C. Morrison, Jr. has practiced healthcare law for almost 40 years and is one of the founding members of Jackson Walker’s Healthcare section. With a board certification in Health Law by the Texas Board of Legal Specialization, Jed exclusively represents healthcare providers and other industry participants related to the regulatory and transactional aspects of healthcare law. In recognition of his practice, Jed has been named among Chambers USA for Healthcare in Texas since 2006, among The Best Lawyers in America for Healthcare Law since 2007, as a “Super Lawyer” by Thomson Reuters (2007-2016, 2018-2019), and as a “Best S.A. Lawyer” in the Healthcare area by San Antonio Scene since 2010.
Since Jackson Walker’s founding in 1887, our attorneys have represented some of the most influential companies and business leaders in the world. Today, we remain firmly rooted in Texas while serving clients around the globe. With more than 400 attorneys across seven offices, we are the fourth-largest law firm in the state and have been recognized by Law360 as a “Texas Powerhouse” and an “elite law firm” that regularly provides counsel to industry-leading clients. To explore the Firm’s multidisciplinary approach in serving healthcare clients, visit our Healthcare and Corporate & Securities practice pages.