FOCUS Investment Banking Represents Michigan ENT & Allergy Specialists in its sale to Parallel ENT & Allergy
Washington, DC, (November 30, 2023) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Michigan ENT and Allergy Specialists (“Michigan ENT”) has been added to Parallel ENT and Allergy (“Parallel”) as a supported practice. FOCUS managing directors Eric Yetter and Andy Snyder advised Michigan ENT in this partnership. They are among the most active advisors to medical professionals in transactions with private equity-backed organizations.
“We enjoyed working with Eric Yetter and Andy Snyder at FOCUS Investment Banking, said Richard Strabbing, M.D., who serves as Michigan ENT’s managing partner. “They did a great job walking our group through the entire process. As physicians, there’s a lot we don’t fully understand about the business world. Eric and Andy were patient and did a great job explaining things to me as they came up throughout the transaction. I highly recommend working with them. Doing this without representation would be both foolish and stressful.”
Parallel will provide non-clinical, practice management services to support high-quality patient care. With the addition of Michigan ENT, Parallel is now supporting 93 providers and 443 employees across 19 locations in five states.
Michigan ENT provides otolaryngology care for all ages. As part of complete ear, nose and throat care, the practice also offers sinus and rhinology care, treatment for balance and dizziness disorders and comprehensive audiology services. The practice has six locations throughout Michigan and has a total staff of 92 including six board-certified physicians, nine clinical audiologists, five board-certified physician assistants and five physical therapists. Michigan ENT is affiliated with Trinity Health, Corewell Health, and University of Michigan Health – West.
"Michigan ENT & Allergy Specialists has a reputation for excellence in comprehensive otolaryngology, allergy, and audiology care,” commented Glenn Noble, Parallel's CEO. “Parallel is thrilled to partner with Michigan ENT & Allergy Specialists by supporting their team with shared services including human resources, IT, finance, revenue cycle management, digital and reputation management services. Together, we are confident we can continue to grow the practice to deliver outstanding community care in the years to come.”
"Joining Parallel is an exciting opportunity for Michigan ENT & Allergy Specialists,” added Dr. Strabbing. “Parallel has a great culture and a leadership team with deep experience in healthcare and practice growth. As a part of Parallel, our team will have more support for non-clinical operations so that we can continue our unwavering focus on patient care.”
Parallel ENT & Allergy is backed by Trinity Hunt Partners, a growth-oriented private equity firm with deep healthcare experience.
“We enjoyed working with the physician-owners at Michigan ENT and are thrilled with this outcome,” said Eric Yetter, Managing Director and Healthcare Team Leader at FOCUS Investment Banking. “This partnership will allow our clients to continue growing their practice, and because Parallel will alleviate much of the day-to-day management burden, it will improve their quality of life. We look forward to watching their continued success.”
*These testimonials may not be representative of the experience of all clients; testimonials are not a guarantee of future performance or success.
