Southlake-based private equity firm Ancor Capital Partners said March 23 it has acquired DuvaSawko, a boutique emergency-physician owned and operated revenue-cycle and practice-management company serving emergency physician groups and hospital-based emergency departments.
Headquartered in Ormond Beach, Florida., the company was established in 1998 by CEO Dr. Charles Duva and Dr. William Sawko, executive vice President and chief information officer.
DuvaSawko currently employs more than 240 employees and serves nearly 30 clients with millions of annual patient visits across 70 plus facilities in 12 states.
“We are pleased to partner with Drs. Duva, Sawko and the management team in this exciting growth company,” said J. Randall Keene, partner of Southlake-based Ancor Capital Partners. “DuvaSawko has a similar philosophy to Ancor on the importance of corporate culture and how its positive influence can dramatically impact a company.”
Keene said Duva, Sawko and senior management are reinvesting with Ancor in the transaction and will play key roles going forward.
Yukon Partners, based in Minneapolis, provided mezzanine capital and an equity co-invest in the transaction. This is the fifth investment opportunity in which Ancor and Yukon have partnered together.
DuvaSawko is the fifth health care company in Ancor’s current portfolio of companies.
Ancor Capital Partners focuses on lower middle-market companies with EBITDA of $5-$15 million. Ancor has made 46 acquisitions to date in health care, consumer and other industries.