Nobilis Health Corp. (Nobilis), a full-service healthcare development and management company, has entered into a definitive agreement to acquire Hamilton Vein Center, a provider of clinical and surgical procedures for vascular disease. The acquisition adds four locations in the Houston area, one location in San Antonio and one location in Austin. San Antonio and Austin are new markets for Nobilis.    

Hamilton Vein Center has approximately 19,000 in-network patient encounters per year. Upon closing, the Hamilton Vein Center business will increase Nobilis' in-network patient volume mix to over 50%.  "This acquisition continues our strategy of adding substantial in-network revenues to the Nobilis business model.  With significantly larger in-network targets in our acquisition pipeline we are positioned to effect material change throughout 2017," stated Harry Fleming, chief executive officer.

In addition, Hamilton Vein Center founder, Carlos R. Hamilton III, M.D., will join Nobilis as medical director of interventional radiology in the Houston market overseeing vascular operations and development.  Dr. Hamilton has built a premier, multi-regional vascular brand based on his eminent reputation as a clinician and innovator in these markets.

The company will acquire Hamilton for approximately $13.25 million, comprised of $8.25 million in cash and $5 million in the form of a convertible note. The note is convertible to cash or stock at the Company's election, and is payable in two equal installments over a two-year period.

In addition to operational, sales, and marketing efficiencies, Hamilton Vein Center affords Nobilis a network of clinical locations in desirable areas of growth and a chassis on which the company can continue to grow its direct–to-consumer vascular brand, Clarity. Hamilton Vein Center also adds a network of referring physicians with whom Nobilis can develop new relationships and expand patient acquisition opportunities. These synergies will generate additional surgical case volume and revenue for the Nobilis system.  The merged system will drive favorable patient outcomes and enhance the overall patient experience.

"We are pleased to announce this agreement to acquire Hamilton Vein Center. Dr. Hamilton and his team have developed one of the largest vascular practices in Houston by delivering quality patient care with exceptional outcomes, making Hamilton Vein Center a great strategic and financial fit with our existing business," said Kenneth Efird, president of Nobilis. "Through this transaction we will expand our vascular brand, Clarity, into two new markets in Texas, and continue the trend of expanding the proportion of our business derived from in-network cases."     

"We are excited to join Nobilis Health and become an important component of the growth of the Clarity brand," remarked Dr. Hamilton. "We look forward to expanding our business into other Nobilis markets and contributing to the further success of the company's vascular business."