Success Stories


As a non-profit healthcare organization, North Texas Specialty Physicians (NTSP) has 600+ primary care and specialty physicians that care for the medical well being of 78,000 Medicare beneficiaries in Texas and North Carolina. NTSP also bears more than $600 million in financial risk through its two Medicare Advantage plans – Care N’ Care, a Texas Medicare Advantage (MA) plan currently serving 11,000 beneficiaries, and Healthteam Advantage (a joint venture with Cone Health), which currently serves 6,000 members.


In 2010, NTSP developed and incubated Sandlot, a proprietary, next-generation Health Information Exchange to help assess and manage financial risk (as well as improve patient care) for its Medicare patients. Later that year, NTSP engaged ST Advisors to join its combined leadership teams for a Strategic Assessment, during which we explored Sandlots’ product offerings, value proposition, differentiators, and competitive landscape, as well as discussing its growth objectives.

NTSP, Sandlot, and ST all mutually agreed that an ongoing relationship made sense, and we’re proud that over several years ST Advisors was able to provide a sounding board and an experienced perspective on both internal, company-specific issues, and external industry events for both Sandlot and NTSP.


Working with Sandlot for the next four years:

  • ST Advisors introduced Sandlot to many of the leading analysts in the sector, as well as helped field calls from potential investors and other interested parties
  • We identified an optimal strategic partner for Sandlot and negotiated a joint venture (Sandlot Solutions) between NTSP and Santa Rosa Consulting, a private equity-backed healthcare IT consulting firm
  • Ben Rooks joined the newly formed Sandlot Solutions board as an outside director
  • ST identified a leading venture investor for Sandlot Solutions in 2014 (after which Ben left the Board)

Over the last six years, ST Advisors has became NTSP’s trusted advisor across multiple aspects of its business, and we have had the privilege to collaborate with and advise NTSP on both capital strategy and the evaluation of multiple strategic opportunities.

"Initially engaged in 2010, ST Advisors assisted NTSP in developing a go-forward strategy for technology we developed to help care for our patients. As a result of Ben’s instrumental work, we ultimately formed a joint venture with a leading consulting firm and recapitalized the business as Sandlot Solutions, nominating Ben as an outside director. More importantly, since then, ST Advisors has become a trusted advisor to both the management and Board of NTSP, and we continue to consult with them regularly. We value their opinion, input, and support, and would not engage in a strategic relationship or transaction without their consultation."

– Fowad Choundhry

North Texas Specialty Physicians

Outsider Perspective with Insider Knowledge®