2010-2018
As a non-profit healthcare organization, North Texas Specialty Physicians (NTSP) has 700+ primary care and specialty physicians who care for the medical well-being of 84,000 Medicare beneficiaries in Texas and North Carolina. NTSP also bears more than $600 million in financial risk through its two Medicare Advantage plans.
Initial Engagement with Sandlot
In 2010, NTSP developed and incubated Sandlot, a proprietary, next-generation Health Information Exchange (HIE) that helped to assess and manage financial risk (as well as improve patient care) for its Medicare Advantage patients. Later that year, NTSP engaged ST Advisors to join its combined leadership teams for a Strategic Assessment, during which we explored Sandlot’s product offerings, value proposition, differentiators, and competitive landscape, while discussing its growth objectives and ultimate goals for the company.
We’re proud that, following our initial engagement, NTSP and Sandlot retained ST Advisors for several years; during that time, ST Advisors was able to introduce Sandlot to many of the leading analysts in the sector, field calls from potential investors and other interested parties, and provide a sounding board and experienced perspective on both internal issues and external industry events.
Engagement with NTSP
From 2014 through 2016, ST Advisors remained NTSP’s trusted advisor across multiple aspects of its business, collaborating with its leadership team on both capital strategy and the evaluation of numerous strategic opportunities. In 2017, it became clear that a strategic transaction would provide NTSP with the best outcome, and ST Advisors advised the company through a number of discussions with potential strategic and financial partners. When ST Advisors and NTSP jointly agreed the time was right to engage an investment bank to assist with a formal transaction process, ST Advisors worked to identify the best investment bank for the transaction and remained involved throughout the duration of the process.
Results with Sandlot
Working with Sandlot for the next four years:
Results with NTSP
In May 2018, an affiliate of Southwestern Health Resources (SWHR) acquired NTSP Holding Company LLC and its subsidiaries and affiliated entities.
“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.”
