Kohlberg & Co LLC, a private equity firm headquartered in New York, has acquired Ob Hospitalist Group, a provider of customized obstetric hospitalist programs, from Gryphon Investors. The company’s management team is remaining with OBHG and will retain a significant stake in the company.
Evan Wildstein, partner of Kohlberg, said, “We are excited to partner with Lenny and the OBHG team to support the Company’s best‐in‐class clinical care. OBHG is well‐positioned as the market‐leading obstetric hospitalist services provider with a unique value proposition, positively impacting patient lives and outcomes while also delivering value to physicians and hospital partners.”
Lenny Castiglione, CEO of OBHG, said, “Gryphon has been an excellent partner, bringing passion for our mission, expert guidance, and strategic resources to position OBHG for the next evolution of our impact on the landscape of women’s health. We appreciate their contributions and are thrilled to now align with Kohlberg as we continue to pursue our goal of expanding access for women and their families to the OBHG standard of care.”
Nick Orum, Gryphon’s president and co‐head of the firm’s Healthcare Group, added, “Gryphon is delighted to have supported OBHG with the resources needed to further establish itself as the best‐in‐ class company in outsourced obstetric services. The Company provides timely, coordinated, and safer patient care, while improving the work‐life balance for obstetric physicians.”
Kevin Blank, Gryphon Healthcare Operating Partner, commented, “The Company has made significant progress engaging physicians, improving clinical quality, reducing medical risk, and increasing the efficiency of delivery care, creating better outcomes for expectant mothers while setting the Company up for its next phase of its growth.”
Moelis & Co. LLC and J.P. Morgan Securities LLC served as financial advisors to OBHG and Kirkland & Ellis LLP served as legal counsel. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Kohlberg. Antares Capital and Owl Rock Capital led the debt financing for the transaction.