Press Release

Shore Capital Announces Formation of Southern Ear, Nose, Throat, and Allergy Physicians

May 17, 2019

May 17, 2019 ‐ Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has formed Southern Ear, Nose, Throat and Allergy Physicians (“SENTA”) and completed a strategic partnership with Northwest ENT and Allergy Center (“Northwest ENT” or the “Company”). Northwest ENT is a leading ear, nose and throat (“ENT”) and allergy services provider with seven locations including two affiliated ambulatory surgery centers in the Greater Atlanta, Georgia metro area. The Company offers comprehensive medical and surgical ENT and allergy services, including treatment for thyroid disorders, sinus conditions, ear pain, allergies, and throat disorders. Northwest ENT will continue to operate under its brand.

Shore Capital is partnering with Northwest ENT’s existing four partner physicians, Dr. Drew Locandro, Dr. Shatul Parikh, Dr. Ryan Kauffman and Dr. Avani Ingley, who have established a reputation for high quality medical and surgical specialty ENT and allergy care and lead a team of six doctors, one physician’s assistant, five audiologists and one nurse practitioner. Drew, Shatul, Ryan and Avani, and the Northwest ENT team have demonstrated impressive growth through the addition of new service lines and capabilities, recruiting talented physicians and specialists, and new center openings. “We are proud of the clinical foundation we have built as a team and are excited to continue to expand patient and referral partner access to our treatment and surgical services through a new phase of transformational growth. Our partnership with Shore Capital will allow us to accelerate our organic growth including opening new locations, hiring additional providers, and expanding our patient care and business support services while simultaneously pursuing affiliations with other leading practices,” said Dr. Parikh.

Shore plans to invest in infrastructure to further standardize operations and offer finance, accounting, compliance, marketing, human resources, IT and other support services to allow clinicians to focus on providing high quality ENT and allergy services. “Shore Capital is the ideal partner to help further our medical mission across a broader geographic reach and shares our commitment to leading clinical quality, operational excellence and increased patient access,” said Dr. Locandro. “I have high aspirations for what we can collectively accomplish and offer to our patients and their referring doctors,” commented Dr. Ingley. “We are thrilled about the partnership with Shore Capital and the deep healthcare experience and dedicated management and support services they bring to the table.”

SENTA and Northwest ENT will pursue affiliations with independent ear, nose and throat and stand alone allergy practices across the Southeast in order to build a leading network of doctors that maintains a patient-first culture with a clear focus on clinical care. “The partnership provides us with access to capital, administrative resources, operating expertise and strategic guidance while maintaining absolute focus on clinical quality as we seek to execute on our vision of building a leading ENT and allergy practice in the Southeast,” added Dr. Kauffman.

“We could not be more excited to partner with the entire Northwest ENT team and look forward to creating a leading ENT and allergy provider in the Southeast, while offering the highest level of support to our practices and clinicians,” said Chris Mioton, Chairman of SENTA. “Northwest ENT provides a solid foundation to build a best-in-class organization as SENTA seeks to be the partner of choice for practices throughout the Southeast who provide high quality patient care and desire a strategic partner to support their business operations and accelerate growth.”

This investment represents the eighth platform investment out of Shore Capital Partners Fund II, L.P., a $190 million investment vehicle raised in April 2017.