A sale process for Heritage Provider Network, the risk-taking physician organization focused on Southern California, has begun, Axios reports. The market has been waiting for years for HPN to sell and could be worth more than $7 billion.
CEO and founder Richard Merkin, in his 70s, has owned and controled every aspecty of the Marin del Ray-based company for more than 40 years.
According to the report, JP Morgan has begun the sale process and marketing materials have been sent to a select group of buyout firms.
The company encompasses 3,700-plus primary care physicians. Read more.
