Sentinel acquires New You Bariatric Group

Adds Bariatric Practice Management to Healthcare Portfolio

NEW YORK, August 27, 2019 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the midmarket, today announced the acquisition of New You Bariatric Group, the leading provider of administrative support services to bariatric surgery offices in the New York metropolitan area. The terms of the deal were not disclosed.

NYBG provides administrative services to 15 bariatric surgery offices in New York, New Jersey, and Connecticut that collectively operate as the New York Bariatric Group and employ bariatric surgeons, other specialists, and physician assistants. Founded by Dr. Shawn Garber, NYBG supports practices that offer a full suite of bariatric surgical procedures, pre- and post-op support, related plastic surgery, and innovative non-surgical treatments to meet patients' needs. NYBG's affiliated practices also offer a "One-Day Workup," a comprehensive pre-operative evaluation with on-site cardiologists, pulmonologists, psychologists, and nutritionists, thereby eliminating the need for patients to schedule multiple appointments in different locations prior to surgery. In addition, NYBG's affiliated practices maintain strong relationships with leading health systems in its regional markets and also manage bariatric programs for several hospitals. NYBG's affiliated doctors have completed more than 18,000 bariatric surgeries since inception, which establishes NYBG as the leading U.S. provider of administrative services for bariatric practices.

"NYBG supports one of the fastest growing providers of bariatric surgery and weight-loss treatment options in the country," said Paul Murphy, a partner at Sentinel. "NYBG is an innovative, technology-enabled company with a robust marketing strategy and strong patient satisfaction scores at its affiliated practices. NYBG 's affiliated practices are nationally recognized clinical leaders and industry pioneers. We see a significant runway for growth and are thrilled to partner with Dr. Garber and his talented team."

"We are excited to partner with Sentinel in our next phase of growth," said Dr. Shawn Garber, founder and CEO of NYBG. "Sentinel will help us expand our business geographically and extend our service offering into other markets. Obesity is a national epidemic and we have seen the need for our unique approach grow significantly over the past twenty years. Through collaboration, we are improving the quality of treatment and success that our affiliate practices' patients are seeing. Bariatric surgery is a safe, highly-effective solution to treat obesity and several related diseases, and we expect to see continued growth in demand for these services."

Sentinel has a well-established record of investing in the healthcare services sector, including investments in pain management, hospice, home healthcare, and dentistry. Sentinel's prior healthcare investments include Altima Dental Centers, one of the largest dental services organizations in Canada; Castle Dental and Metro Dentalcare, each a leading regional dental service provider; Hospice Advantage, a hospice care organization; Interim Healthcare, a provider of home healthcare and staffing; MB2 Dental, a dental service organization with a unique doctor-centric ownership model; National Spine & Pain Centers, a service provider to interventional pain management physicians; Northeast Dental Management, a leading dental service provider in the Northeast and Mid-Atlantic; and ReachOut Healthcare America, a leader in mobile dentistry.