Ascend Capital Partners completed the acquisition of a majority stake in Seoul Medical Group.

Ascend Capital Partners, a healthcare-focused private equity partnership, completed the acquisition of a majority stake in Seoul Medical Group, a physician-run Independent Physician Associations dedicated to providing both high-quality clinical and non-clinical healthcare services to patients. Financial terms were not disclosed. “During the past 30 years, SMG has experienced significant growth, rapidly expanding beyond California to become a leading healthcare provider in the U.S. with a focus on first- and second-generation Korean and other Asian American patient populations. We founded Ascend with the goal of building genuine partnerships with community-based healthcare providers and supporting them with operational expertise and financial resources. We are excited to work with SMG to deliver a consistent, coordinated and efficient experience for both physicians and patients," In Seon Hwang, Ascend Partners Co-Founder.