Altais Finalizes Family Care Specialists Acquisition Los Angeles-based FCS is one of the largest community-based and Latinx-led private medical groups in California
Oakland, Calif.
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January 04, 2022 08:11 AM Pacific Standard Time
Healthcare services and technology company Altais, has finalized the agreement to acquire Family Care Specialists Medical Corporation (FCS). FCS was founded in 1988 and provides all-age family healthcare to communities in the eastern and northern Los Angeles metropolitan area. It is comprised of a medical group with more than 120 staff, an independent physician association with more than 340 primary care physicians and specialists, and a nationally recognized family-medicine residency program. The deal was announced in October.
Altais is a healthcare services company pioneering integrated, scalable technology solutions and business models that are designed to enhance the patient experience, improve health outcomes, reduce cost, and drive professional gratification among physicians. Altais invests directly in physician practices, clinics, and related business models. In 2020, Brown & Toland Physicians, a network of 2,700+ independent physicians in the San Francisco Bay Area, joined the Altais family of companies. Altais also opened two independent primary care clinics serving essential civic employees and educators in the Monterey-Salinas market.
FCS was formed by six Latinx physicians who still lead the group. They are all native Angelenos from the East Los Angeles community. Their aims for FCS were to provide high-quality and affordable healthcare and cultivate future generations of physicians for their community.
“We founded Family Care Specialists with the goals of giving back to the community, in both healthcare services and medical education,” said Dr. Hector Flores, co-founder and medical director of FCS. “Our residency program continues to be an incubator for independent physicians who are committed to care for families in underserved communities. We believe the new relationship with Altais will provide FCS access to greater resources and technology. Driven by the power of our common cause, we’ll enhance healthcare for the community at large.”
"Altais’ mission is to ignite an exceptional healthcare system that cultivates the health and well-being of physicians, patients and the clinical community,” said Altais CEO Dr. Jeff Bailet. “One of our primary goals in the pursuit of that mission is to support physician practices in delivering high-quality patient care and better health outcomes at lower costs. Family Care Specialists has done an outstanding job providing comprehensive healthcare to underserved communities in the Los Angeles area and developing future generations of family-medicine physicians through its residency program. Our organizations’ aligned missions make us a perfect fit for bolstering value-based community healthcare to the residents of Los Angeles.”
FCS recently received Advisory Board’s prestigious “Innovation Showcase: Strategies to Advance Diversity” Award.
FCS will reinvest the $10,000 award into its extensive healthcare workforce development programs that are designed to advance diversity, ensure placement of residency graduates in underserved areas, and build future leaders in healthcare.
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About Altais
Altais is a healthcare services company that helps physicians and the clinical community maximize the health and well-being of their patients in an affordable and sustainable way. Altais has two divisions. Altais Clinical Services offers a range of affiliation and employment models for physicians, and high-quality, affordable care for patients. Altais Health offers a broad platform of clinical support tools and technology, along with high-touch support. Ultimately, Altais seeks to enhance the vibrancy of physician practice and strengthen the heart of medicine – physicians connecting with patients and providing personalized, high-quality care. For more information about Altais, please visit www.altais.com.
About Family Care Specialists
The Family Care Specialists (FCS) Medical Corporation, aka FCS Medical Group, and the FCS IPA collectively serve approximately 30,000 beneficiaries comprised of Medi-Cal, Medicare, Commercial and Covered California coverage and 5% who are uninsured. The FCS Medical Group is dedicated to improving the health status of its patients, their families, and the entire community. FCS utilizes culturally and linguistically competent services and deployment of performance standards that reduce or eliminate health disparities. The FCS medical group is also the founding partner of the Adventist Health White Memorial Family Medicine Residency Program. The residency program is nationally recognized for its academic success, placement of more than 70% of graduates in medically underserved areas, and for contributing to diversity in the health professions. More than 65% of its graduates come from groups known to be under-represented in medicine. For more information about Family Care Specialists, please visit www.fcsmg.com.
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Note: In this transaction, Synergy Advisors, LLC, served as exclusive financial advisor to Family Care Specialists Medical Corporation and its principal physicians, and Kaufman Hall served as exclusive financial advisor to Altais and Altais Clinical Services.
Editors, please note: Photos and interviews are available by contacting Robin Carr at (415) 971-3991 or Altais@landispr.com.
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