New Harbor Capital Announces Sale of Ocean State Healthcare

New Harbor Capital is pleased to announce the sale of Ocean State Healthcare (“Ocean State”, “the Company”), one of the largest independent providers of primary care and related services in Rhode Island, to VillageMD, through its subsidiary Village Medical, a national leader in value-based primary care. Ocean State Healthcare will become Village Medical, one of the fastest growing primary care providers in the United States.

Founded in 2013 by five clinicians, Ocean State Healthcare was formed to create a differentiated and integrated network of primary care services serving as the gatekeepers for healthcare in the state. The group treats 200,000 patients annually through an affiliated network of 68 clinical providers across 12 locations. 

VillageMD, through its subsidiary Village Medical, is a national provider of value-based primary care services. VillageMD partners with physicians to provide the tools, technology, operations, staffing support, and industry relationships to deliver high-quality clinical care and better patient outcomes while reducing the total cost of care.  

“We are excited to collaborate with VillageMD and bring quality, effective primary care to more patients in Rhode Island,” said John Roselli, Interim CEO of Ocean State and an operating partner of New Harbor Capital. “Village Medical is a great home for our physician partners and provides high-quality clinical care and better outcomes for Ocean State’s patients.”

McDermott Will & Emory represented New Harbor Capital in the sale process and Thompson Coburn, along with VillageMD’s in-house general counsel, Wendy Rubas, Esq., represented VillageMD.

About VillageMD

VillageMD, through its subsidiary Village Medical, is a national provider of value-based primary care services. VillageMD partners with physicians to provide the tools, technology, operations, staffing support and industry relationships to deliver high-quality clinical care and better patient outcomes, while reducing the total cost of care. The Village Medical brand provides primary care for patients at traditional free-standing clinics, Village Medical at Walgreens clinics, at home and via virtual visits. VillageMD and Village Medical have grown to 12 markets, are responsible for more than 600,000 lives and manage $4 billion in total medical spend in value-based contracts. To learn more, please visit www.villageMD.com.