DuPage Medical Group said Wednesday it has received a $250 million investment from Boston-based private equity firm Summit Partners.
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The equity and debt investment in the Downers Grove-based medical group will support “growth initiatives” at its practice management company, DMG Practice Management Solutions/MPAS. Under the agreement, DuPage Medical Group, which is physician-owned, will retain control and ownership of the business.
“This partnership provides access to capital and strategic support for DMG’s growth initiatives — including population health, expansion into new geographies and opening additional clinical lines of service — and will help to enhance our ability to reach and treat patients,” said Mike Kasper, chief executive officer.
DMG employees and patients “will notice very few changes as a result of the partnership,” the company said in a statement.
DMG’s board will comprise seven members — four of whom are physicians. Darren Black, a managing director at Summit Partners, will join DMG’s board.
Additional terms of the agreement were not made public.
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