CHICAGO, IL – April 4, 2014; City Capital Advisors, a results-oriented investment bank serving the middle market, announced today that Pacific Interventional Vascular Access Center (“PIVAC”) has entered into a joint venture transaction with Fresenius Vascular Care, Inc. (“FVC”), a wholly-owned subsidiary of Fresenius Medical Care North America. In the transaction, FVC acquired a controlling stake in the newly formed joint venture, which will own and operate PIVAC’s Culver City vascular center. Founded in 2010, PIVAC provides essential access related procedures to ESRD patients in the Los Angeles area as well as treatments for peripheral arterial disease, spider and varicose veins and other vascular conditions. City Capital Advisors served as the exclusive financial advisor to PIVAC in connection with the transaction. The engagement was led by City Capital Managing Directors Tim Coleman and Matt Phillips.
PIVAC’s Culver City surgical suite has enjoyed impressive growth since opening in 2010, fueled by the exceptional quality of care provided to patients as well as the strong relationships that the PIVAC team has fostered with nephrologists, ESRD centers and primary care physicians within the broader community. “This partnership is an important step in preparing us for the next phase of growth at PIVAC,” explained PIVAC vascular surgeon Spencer Brown, “and we believe that Fresenius’s commitment and resources will help us to accelerate our pace of growth while continuing to provide the highest quality vascular care to our patients.” Dr. Brown added “the City Capital team was invaluable in bringing this transaction to fruition. Their industry knowledge and experience was a real asset, and allowed us to remain focused on patient care.”
About Pacific Interventional Vascular Access Center
Founded in 2010, Pacific Interventional Vascular Access Center provides minimally invasive treatments for a range of medical conditions from PIVAC’s fully equipped, state-of-the-art outpatient center located in Culver City, California. Serving patients throughout the greater Los Angeles area, PIVAC’s leading interventional physicians and surgeons provide access related procedures for ESRD patients as well as treatments for peripheral arterial disease, varicose and spider veins, and other vascular conditions.
About Fresenius Medical Care North America
Through its leading network of dialysis facilities and vascular access centers, laboratory, pharmacy and affiliated hospitals and nephrology practices, Fresenius Medical Care North America (“FMCNA”) provides renal services to people throughout the United States, Mexico and Canada suffering from kidney disease. FMCNA, also a leading provider of dialysis equipment, dialyzers and related disposable products and renal pharmaceuticals, is a wholly-owned subsidiary of Fresenius Medical Care AG & Co. KGaA (NYSE: FMS).
About City Capital Advisors, LLC
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.