DMG Practice Management Solutions Funding, Investors & Competitors

DMG Practice Management Solutions has raised $350M across 4 funding rounds, most recently a $24M undisclosed-stage round in January 2022.

Last DMG Practice Management Solutions funding round

$24M

Undisclosed stage · Jan 2022

Cumulative funding DMG Practice Management Solutions raised

$350M

across 4 funding rounds

Key investors in DMG Practice Management Solutions

  • Summit Partners

DMG Practice Management Solutions Overview

About DMG Practice Management Solutions

DMG Practice Management Solutions is a provider of administrative and operational services to affiliated physician practices in the United States. The company handles billing, revenue cycle management, compliance, and human resources for specialties including primary care and surgery. Based in New Jersey, DMG supports multi-location groups through centralized platforms ensuring regulatory adherence and financial performance.


Founded

2015

HQ

United StatesChicago, IL

Status

Privately held

Customer focus

B2B

Revenue model

Services, Subscription

DMG Practice Management Solutions Funding History

DMG Practice Management Solutions has raised a total of $350M across 4 funding rounds.

DMG Practice Management Solutions' first fundraising round was a $250M undisclosed-stage round in January 2016. The most recent completed round was a $24M undisclosed-stage round in January 2022.

DMG Practice Management Solutions funding rounds

DMG Practice Management Solutions funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2022Undisclosed stage-$24M-
Nov 2018Series A-$13M-
Oct 2017Undisclosed stage-$63MDMG Practice Management Solutions is the practice management company affiliated with DuPage Medical Group (DMG), a large independent multi-specialty physician group based in Downers Grove, Illinois, with over 600 physicians across more than 80 locations in suburban Chicago as of 2017. It supports DMG's operations and growth, including subsidiary Boncura Health Solutions focused on population health and related services. In August 2017, Ares Management invested $1.45 billion in a strategic partnership with DMG, acquiring Summit Partners' prior stake in DMG Practice Management Solutions (from a $250 million investment the previous year), while DMG physicians retained significant ownership in the practice management entity and kept the physician group 100% physician-owned and directed. The investment aimed to fuel expansion, including new service lines, sites, physicians, population health initiatives, geographic growth, and enhanced outpatient delivery models. A related SEC Form D filing on October 2, 2017, disclosed $63 million in equity raised by DMG Practice Management Solutions LLC. S&P Global Ratings assigned a 'B' corporate credit rating to the company on July 31, 2017, ahead of the deal close on August 15. The transaction reflects broader private equity interest in physician practice management and multi-specialty groups during 2017.
Jan 2016Undisclosed stageSummit Partners$250MSummit Partners announced a USD 250 million investment in DuPage Medical Group in January 2016, finalised on 29 December 2015, structured as a combination of equity and debt. The proceeds fund growth at DMG Practice Management Solutions, the management company serving the group, including population health, expansion into new geographies and new clinical lines of service. DMG physicians retained majority ownership of the practice management company, and its seven-member board includes four physicians. DuPage Medical Group is the largest independent multi-specialty physician group in the Chicago area, headquartered in Downers Grove, Illinois, with more than 480 physicians across more than 60 locations. Chief executive Mike Kasper said Summit understood the group's patient-focused, doctor-directed culture. Ares Management acquired Summit's stake in 2017.

Who has invested in DMG Practice Management Solutions?

1 investor has backed DMG Practice Management Solutions across its funding rounds, including Summit Partners.


DMG Practice Management Solutions Investors

Investors in DMG Practice Management Solutions by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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DMG Practice Management Solutions Competitors

DMG Practice Management Solutions competitors include listed companies like IDEXX Laboratories, Veeva, Roper Technologies and IQVIA, and private ones like Commure and Benchling.

Public and private companies comparable to DMG Practice Management Solutions
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
IDEXX LaboratoriesUnited StatesUnited StatesPublicly listed$4.3B$1.5B$53B11.5x
VeevaUnited StatesUnited StatesPublicly listed$3.2B$965M$49B11.8x
Roper TechnologiesUnited StatesUnited StatesPublicly listed$7.9B$3.2B$47B6.7x
IQVIAUnited StatesUnited StatesPublicly listed$16B$3.4B$45B3.4x
CommureUnited StatesSan Francisco, CAPrivate$200M-$7B35.0x
BenchlingUnited StatesSan Francisco, CAPrivate$50M-$6.1B-

DMG Practice Management Solutions Public Comps

DMG Practice Management Solutions is still privately-owned, but its public comps include IDEXX Laboratories, Veeva, Roper Technologies, IQVIA, GE HealthCare, ICON plc, Pro Medicus, United Imaging, Glaukos and M3 Inc..

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
IDEXX Laboratories$4.3B$1.5B12.6x11.5x35.9x32.3x
Veeva$3.2B$965M13.2x11.8x43.6x25.9x
Roper Technologies$7.9B$3.2B7.2x6.7x17.9x17.0x
IQVIA$16B$3.4B3.6x3.4x17.2x14.7x
GE HealthCare$21B$3.7B2.2x2.1x12.0x11.6x
ICON plc$8.3B$816M2.2x2.2x22.1x13.3x
Pro Medicus$181M$143M81.0x72.5x102.6x90.2x
United Imaging$2.1B$369M7.0x6.0x39.0x35.1x

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Common questions about DMG Practice Management Solutions

When was DMG Practice Management Solutions founded?DMG Practice Management Solutions was founded in 2015.
Where is DMG Practice Management Solutions headquartered?DMG Practice Management Solutions is headquartered in Chicago, IL, United States.
Is DMG Practice Management Solutions publicly listed?No, DMG Practice Management Solutions is a private, VC-backed company.
How much funding has DMG Practice Management Solutions raised?DMG Practice Management Solutions has raised $350M across 4 funding rounds.
What was DMG Practice Management Solutions' last funding round?DMG Practice Management Solutions' last funding round was a $24M undisclosed-stage round in January 2022.
Who are DMG Practice Management Solutions' investors?DMG Practice Management Solutions' investors include Summit Partners.
Which companies are comparable to DMG Practice Management Solutions?Companies comparable to DMG Practice Management Solutions include IDEXX Laboratories, Veeva, Roper Technologies, IQVIA, Commure and Benchling.

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