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- DuPage Medical Group
DuPage Medical Group Funding, Investors & Competitors
DuPage Medical Group has raised $1.7B across 2 funding rounds, most recently a $1.4B undisclosed-stage round in August 2017.
Last DuPage Medical Group funding round
$1.4B
Undisclosed stage · Aug 2017
Cumulative funding DuPage Medical Group raised
$1.7B
across 2 funding rounds
Key investors in DuPage Medical Group
Summit Partners
Ares Management
About DuPage Medical Group
DuPage Medical Group is a Downers Grove-headquartered multispecialty physician practice serving Chicago's western suburbs. Formed in 1999, it encompasses over 30 locations offering primary care, specialties like cardiology and orthopedics, and advanced diagnostics including MRI and CT scans. The physician-led organization utilizes an electronic health record system and MyChart patient portal for seamless care coordination, emphasizing quality and accessibility in outpatient and inpatient services.
Founded
1999
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
DuPage Medical Group Funding History
DuPage Medical Group has raised a total of $1.7B across 2 funding rounds.
DuPage Medical Group's first fundraising round was a $250M undisclosed-stage round in January 2016. The most recent completed round was a $1.4B undisclosed-stage round in August 2017.
DuPage Medical Group funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Aug 2017 | Undisclosed stage | Ares Management (lead) | $1.4B | DuPage Medical Group (DMG), a large independent multi-specialty physician group based in Downers Grove, Illinois, with over 600-800 providers across 80+ locations in Chicago suburbs, entered a $1.45 billion strategic partnership with Ares Management on August 16, 2017. The deal involved Ares acquiring the stake previously held by Summit Partners in DMG Practice Management Solutions, while the physician group remained 100% physician-owned and retained significant ownership in the practice management entity. The investment included equity and debt financing to fuel expansion, including adding physicians to reach 1,200-1,500, new care sites, and ancillary services like imaging and urgent care. DMG's subsidiary Boncura Health Solutions provides billing and management services to over 5,500 physicians and processes more than 7 million insurance claims annually. The group reported $741 million in revenue the prior year (2016) per Crain’s Chicago Business, reflecting growth from acquisitions and service expansions following Summit's $250 million minority investment in December 2015. |
| Jan 2016 | Undisclosed stage | Summit Partners (lead) | $250M | DuPage Medical Group (DMG), the largest independent multi-specialty physician group in the Chicago area, received a $250 million minority growth investment from Summit Partners in late 2015 or early 2016, consisting of debt and equity provided to its subsidiary DMG Practice Management Solutions (also known as Midwest Physician Administrative Services). The funding supported aggressive expansion, including acquiring other practices, opening immediate care and outpatient surgery centers, adding physicians, and investing in data analytics and patient health management programs. At the time, DMG had over 480 physicians and projected $575 million in 2015 revenue. Summit Partners led the minority investment, helping optimize M&A processes by developing a pipeline of over 150 targets and executing more than 10 strategic acquisitions during their holding period. They also bolstered direct physician recruiting, adding over 200 physicians, which scaled DMG to more than 600 physicians across over 80 suburban Chicago locations by 2017, serving over 750,000 patients with primary, specialty, and ancillary services. The investment positioned DMG to capitalize on the shift to value-based care as an independent, physician-led, asset-light organization. This allowed continued growth toward 1,200-1,500 physicians, new care sites, and expanded services like imaging, urgent care, physical therapy, and oncology amid healthcare consolidation, declining reimbursements, and rising costs. The Summit partnership provided capital, strategic advice, due diligence support, and risk management perspective beyond mere monetization. |
Who has invested in DuPage Medical Group?
2 investors have backed DuPage Medical Group across its funding rounds, including Summit Partners and Ares Management.
Lead investors include Ares Management and Summit Partners.
DuPage Medical Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialDuPage Medical Group Competitors
DuPage Medical Group competitors include listed companies like Fortis Healthcare, UnitedHealth Group, HCA Healthcare and Alcon, and private ones like Myhealth Medical Group and IVC Evidensia.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $943M | $215M | $7B | 7.1x | ||
| Private | - | $15M | $134M | - | ||
| Publicly listed | $448B | $23B | $337B | 0.9x | ||
| Publicly listed | $76B | $16B | $93B | 1.9x | ||
| Publicly listed | $10B | $2.6B | $31B | 3.3x | ||
| Private | - | - | $14B | - |
DuPage Medical Group Public Comps
DuPage Medical Group is still privately-owned, but its public comps include UnitedHealth Group, HCA Healthcare, Alcon, Fresenius, Dr. Sulaiman Al Habib, Tenet Healthcare, IHH Healthcare, Rede D'Or São Luiz, Apollo Hospitals and Encompass Health.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $448B | $23B | 0.9x | 0.9x | 16.7x | 13.3x | |||
| $76B | $16B | 1.9x | 1.9x | 9.4x | 9.4x | |||
| $10B | $2.6B | 3.4x | 3.3x | 13.4x | 12.5x | |||
| $26B | $4.2B | 1.6x | 1.6x | 10.1x | 9.4x | |||
| $3.7B | $927M | 6.4x | 5.9x | 25.2x | 24.7x | |||
| $21B | $4.5B | 1.7x | 1.6x | 8.1x | 7.5x | |||
| $6.3B | $1.5B | 3.3x | 3.0x | 13.8x | 13.6x | |||
| $11B | $1.3B | 1.7x | 1.6x | 14.3x | 8.4x | |||
This data is available for Pro users. Sign up to see all DuPage Medical Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about DuPage Medical Group
| When was DuPage Medical Group founded? | DuPage Medical Group was founded in 1999. |
| Where is DuPage Medical Group headquartered? | DuPage Medical Group is headquartered in Chicago, IL, United States. |
| Is DuPage Medical Group publicly listed? | No, DuPage Medical Group is a private, VC-backed company. |
| How much funding has DuPage Medical Group raised? | DuPage Medical Group has raised $1.7B across 2 funding rounds. |
| What was DuPage Medical Group's last funding round? | DuPage Medical Group's last funding round was a $1.4B undisclosed-stage round in August 2017, led by Ares Management. |
| Who are DuPage Medical Group's investors? | DuPage Medical Group's investors include Summit Partners and Ares Management. |
| Which companies are comparable to DuPage Medical Group? | Companies comparable to DuPage Medical Group include Fortis Healthcare, Myhealth Medical Group, UnitedHealth Group, HCA Healthcare, Alcon and IVC Evidensia. |
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