When Integrated Medical Services (IMS) decided to divest ownership of four medical facilities, the group opted to work with Physicians Realty Trust (traded on the NYSE as DOC).
“We had a number of interested buyers, but our advisors encouraged us to meet with DOC,” says Dr. John Dover, President and CEO at IMS. “Together we were able to work through the transaction terms in a mutually beneficial manner. It was a very positive experience.”
IMS, based in Phoenix, Arizona, formed in 2006 as a way to bring medical practices and physicians together with the ultimate goal of providing efficient, high-quality patient care. Since then, the group has grown to include about 140 physicians, representing both primary care and most medical specialties.
By design, IMS built its facilities on hospital campuses. Three buildings are located on the campus of a major Phoenix hospital and the fourth building is located in an outpatient care location, convenient to the IMS physicians located in the facility and the patients they serve. The group also focused on bringing in surgeons, physical therapists, lab techs, dentists and more, based on what current IMS physicians said they needed to provide a more seamless patient experience.
“Fragmentation in care is a major challenge in health care. So we made it our goal to address these gaps in care and provide the full continuum of care in one location,” Dover says.
IMS decided to sell the four properties after announcing a new strategic alignment with Dignity Health in Arizona. The two organizations will work together to introduce new and innovative physician alignment activities aimed at meaningfully growing an integrated health care delivery network across Arizona. As part of the agreement, IMS joined the Arizona Care Network, an accountable care organization led by Dignity Health and Abrazo Health, a controlled affiliate of Tenet Health.
“We ultimately decided to keep real estate separate from the medical services we provide,” Dover says.
“We are proud to partner with a forward-thinking group like IMS who took the initiative to develop these four high quality medical office buildings, strategically located to improve their patients’ access to care,” says DOC President and CEO John Thomas. “We couldn’t be more pleased to enter into this agreement and we look forward to working closely with IMS as it continues to grow and further the objectives of the Arizona Care Network, Dignity Health and Abrazo Health.”
— Dr. John Dover | President & CEO | Integrated Medical Services
