TMCnet News
Sound Physicians Announces Agreement to Acquire Cogent HealthcareTACOMA, Wash. & BRENTWOOD, Tenn. --(Business Wire)-- Sound Physicians, a leading hospitalist and post-acute care organization, with more than 1,100 hospitalist and post-acute providers caring for patients in more than 100 hospitals and post-acute centers, today announced an agreement to acquire Cogent Healthcare, a successful hospitalist and intensive care organization. The transaction is expected to close this quarter, following Hart-Scott-Rodino Act clearance. Cogent Healthcare has more than 650 providers who deliver hospitalist and intensivist services to more than 80 hospitals throughout the United States. Combined, the expanded Sound Physicians organization will now serve more than 180 hospitals in 35 states with more than 1,750 providers including physicians and advanced care practitioners. "Combining Cogent Healthcare's reach and experience with Sound Physicians' focus on developing physicians as leaders and driving improvements in quality, patient experience and efficiency clearly positions Sound Physicians as the partner of choice for delivering breakthrough results in the acute episode of care and the practice of choice for providers," noted Rob Bessler, MD, Chie Executive Officer of Sound Physicians. "Both Sound and Cogent have a strong commitment to improving the quality of care, lowering costs and improving the financial performance for our respective hospital partners. By coming together, we believe we can deliver improved health outcomes for our patients and even better results for our hospital partners." The operations of the two organizations will align to create a high-performance organization focused on the acute episode of care - providing integrated services from inpatient care through to transitional and post-acute care. "By adding the Cogent team and its breadth of strong partner relationships, we are in an excellent position to take acute care episode outcomes to the next level," says Jess Parks, President and COO of Sound Physicians. "As Sound and Cogent come together as an organization, we expect to expand our performance accountability for episodes of care. Both organizations have developed innovative solutions that drive better care coordination, improve outcomes, and lower the cost of care. We are eager to work together to do what's best for patients, our hospital partners and the US healthcare system," states Ron Greeno, MD, EVP Innovation and Strategy, Cogent Healthcare. About Sound Physicians Sound Physicians is a leading hospital medicine and post-acute care organization, focused on driving measurable improvements in quality, satisfaction and efficiency throughout the acute episode of patient care. Sound's deep investments in developing and retaining exceptional physicians, coupled with a proven performance management model results in improved outcomes and significant value for its hospitals and post-acute partners. The organization is the practice of choice of more than 1,100 hospitalists and post-acute providers and the partner of choice to more than 100 hospitals and post-acute care centers nationwide. www.soundphysicians.com |
