DuPage Medical Group, the largest independent, multi-specialty physician group in the Chicago area, today announced a strategic partnership with global growth equity firm, Summit Partners. The $250 million investment -- finalized on December 29, 2015 -- is a combination of equity and debt. Proceeds will support growth initiatives at DMG's practice management company, DMG Practice Management Solutions/MPAS (Midwest Physician Administrative Services). Under the terms of the agreement, DuPage Medical Group ('DMG') will remain 100-percent physician-owned-and-directed, and DMG physicians will retain majority ownership in DMG Practice Management Solutions/MPAS.

'For an independent, physician-led group of DMG's scale and size to retain its majority ownership after such a significant investment is unprecedented,' said DuPage Medical Group CEO Mike Kasper. 'Summit Partners understands that our patient-focused, doctor-directed culture is crucial to our mission, and they are completely supportive of it. This partnership provides access to capital and strategic support for DMG's growth initiatives -including population health, expansion into new geographies and opening additional clinical lines of service -- and will help to enhance our ability to reach and treat patients.'

Kasper says that from an operational standpoint, DMG employees and patients will notice very few changes as a result of the partnership. Physicians, physician extenders, therapists and designated health services, such as diagnostic imaging and radiation oncology, will all remain within DMG. The Board of Directors of DMG Practice Management Solutions will be comprised of seven members -- four of whom will be physicians. DMG will continue to be governed by its current Board of Directors, who are practicing physicians. Additional terms of the transaction were not made public.

'Summit has a history of backing innovative, market-leading businesses in many different industries and has partnered with numerous provider-led practice management organizations over the years,' said Darren Black, a Managing Director at Summit Partners who will join the DMG Practice Management Board of Directors. 'Mike and the entire team at DuPage Medical Group have done a remarkable job in building this business -- embracing technology and truly setting the standard for patient care in one of the nation's biggest health care markets. We are thrilled to partner with this exceptionally innovative healthcare company and to support its growth going forward.'

DuPage Medical Group was advised in the transaction by Cain Brothers.

About DuPage Medical Group
With more than 480 physicians and in more than 60 locations, DuPage Medical Group is the largest independent, multi-specialty physician group in the Chicago area, providing physician-directed health care focused on quality, efficiency and access. For more information, visit www.dupagemedicalgroup.com.

About Summit Partners
Founded in 1984, Summit Partners is a global growth equity firm that is currently investing more than $6.5 billion into equity and fixed income opportunities. Summit has invested in more than 430 companies in healthcare, life sciences, technology and other growth sectors. These companies have completed more than 135 public offerings, and more than 160 have been acquired through strategic mergers and sales. Notable healthcare companies backed by Summit Partners include Anesthetix, HealthCare Partners, Lincare, MEDNAX, National Veterinary Associates and Surgical Affiliates Management Group. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.