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LONDON, UK / ACCESSWIRE / August 18, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Ares Management, L.P. (NYSE: ARES) ("Ares"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ARES. DuPage Medical Group ("DMG") announced on August 16, 2017, that it has entered into a strategic partnership with funds managed by the private equity group of Ares. The total value of the investment is $1.45 billion and the traction was completed on August 15, 2017. The investment will allow DMG to continue its plans for expansion and growth while maintaining independence of the physicians. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Transaction details
As per the strategic partnership between DMG and Ares, the influx of new investment will cover and support growth initiatives of all DMG businesses including DMG Practice Management Solutions (DMG's practice management Company) and Boncura Health Solutions (DMG's subsidiary). As per the terms of the strategic agreement, DMG's physician group, DuPage Medical Group Ltd, will continue to be 100% physician-owned-and-directed. They would also retain significant ownership interest in DMG Practice Management Solutions.
As part of the investment deal, Ares has also acquired Summit Partners' stake in DMG Practice Management Solutions after which Summit will exit as DMG's investment partner. DMG's CEO has clarified that the investment from Ares will greatly benefit DMG's patients as it would allow DMG to add more service lines, sites of care and increase the number of physicians. These additions will enable DMG to enhance its integrated outpatient delivery model and thereby power its initiatives to provide quality, efficiency, and access to patients.
Commenting on the investment from Ares, Mike Kasper, CEO of DMG, said:
"As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led. Ares understands and supports our core mission, which is to maintain and enrich our patient-focused, doctor-directed culture. This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG's growth initiatives, such as population health, expansion into new geographies and additional service offerings. We believe this endeavor will ultimately enhance our ability to reach and treat patients."
Dr. Paul Merrick, President, and Chairman of DMG, added:
"We are extremely excited to welcome Ares as our partner, as DMG continues to grow to become the best group for all physicians and patients both within the Chicago area as well as nationally. Our partnership with Ares will allow us to maintain our physician-oriented culture and clinical autonomy."
About DuPage Medical Group
Downers Grove, Illinois based DMG was formed in 1999 with the merger of three healthcare groups from the western suburbs of Chicago. DMG is now one of the nation's leading and largest independent, multi-specialty physician groups. It has more than 600 primary care and specialty physicians in over 70 locations and handles more than 1.1 million patient visits annually. It provides a wide range of healthcare services to patients, utilizing leading-edge technology and techniques.
In June 2017, DMG announced its intention to acquire Northwest Health Care Associates, a multi-specialty clinic with locations serving Chicago's northwest suburbs. The acquisition is subject to completion of due diligence and final contract negotiations.
About Boncura Health Solutions
Boncura Health Solutions is a physician-owned and directed management services organization and a subsidiary of DuPage Medical Group. It was formed in 2011, and the Company aims to improve patient outcomes, efficiently manage at-risk populations to reduce unnecessaryhealthcare costs, deliver services in a cost-effective manner, and provides unique and convenient ways for patients, providers, and clients to access key support services. Its expertise allows hospitals and health systems, independent physician groups, and accountable care organizations to provide value-based care through efficient and intelligent administrative and clinical services. Today, Boncura serves more than 5,500 physician providers and partners, managing upwards of 350,000 lives, and processing more than seven million claims annually.
About Ares Management, L.P.
Los Angeles based Ares was founded in 1997. It is a publicly traded, leading global alternative asset manager with approximately $104 billion of assets under management (AUM) as of June 30, 2017. Its investments are divided into three main investment groups - Credit, Private Equity, and Real Estate. The Company has a disciplined investment philosophy that focuses on delivering compelling risk-adjusted investment returns throughout market cycles. Ares' growth as one of the largest alternative asset managers can be attributed to its experienced management team, focus on performance and high-quality investor base, which includes large pension funds, university endowments, sovereign wealth funds, banks and insurance Companies. The Company has 15 offices globally, including in the US, Europe, Asia and Australia.
Last Close Stock Review
At the close of trading session on Thursday, August 17, 2017, Ares Management's stock price marginally fell 0.84% to end the day at $17.75. A total volume of 42.58 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 24.76 and have a dividend yield of 5.18%. At Thursday's closing price, the stock's net capitalization stands at $3.79 billion.
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