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Healthcare M&A Advisory

Helping healthcare
entrepreneurs maximize
the value of what
they've built.

Bayshore Growth Partners is an independent investment banking firm focused exclusively on healthcare services. We provide principal-level attention to every engagement — partnering with owners through every step of the transaction process.

See Our Transactions Talk to Our Team
30+
Closed transactions
70+
Years combined experience
100%
Healthcare focused
Nationwide
Reach
Our Approach

Partners for every step.

Bayshore Growth Partners provides financial advisory services and capital to middle market healthcare services companies — helping owners unlock value and maximize results. We bring principal-level attention to every engagement, developing a deep understanding of each company's growth drivers and operational levers to ensure the best path forward.

01
Investment Banking

Company sales, dividend recapitalizations, mergers, divestitures, debt & equity capital raises, and acquisition advisory — with sell-side M&A as our primary focus.

02
Principal Investing

Company acquisitions, recapitalizations, and growth equity investments in healthcare services companies where we see compelling long-term value.

03
Consulting Services

Analysis of monthly financials, budget and forecast development, KPI identification and monitoring, and growth strategy — helping owners build enterprise value ahead of a transaction.

Why BGP

What sets us apart.

Principal-Level Attention

Every engagement receives direct attention from our senior partners — not junior associates. You work with the people who have closed the deals.

Physician Credibility

Our team includes Dr. Keith Friedenberg, a practicing gastroenterologist who personally sold his own practice. That peer perspective opens conversations with physicians that no financial advisor can replicate.

Healthcare Exclusive

We spend 100% of our time on healthcare services — which means we know your market, your buyers, and your value drivers inside out.

FINRA Licensed Representatives

Our team holds FINRA Series 7, 63, and 79 licenses. We operate with the regulatory oversight, professional standards, and fiduciary discipline that the complexity of healthcare M&A demands.

Sector Focus

Deep expertise
across healthcare
services.

We work across the full spectrum of healthcare services — from physician practice groups and behavioral health to aesthetics, wellness, and outsourced business services. If you operate in healthcare services, we can help.

Physician Practices

Multi-specialty and single-specialty groups across all specialties.

Behavioral Health

Psychiatry, psychology, substance abuse, and related therapy practices.

Aesthetics & Wellness

Medical spas, aesthetics practices, and longevity and wellness service businesses.

Ambulatory Surgery Centers

Single and multi-specialty ASCs across a broad range of procedural disciplines and ownership structures.

Clinical Research

Site management organizations, CROs, and investigator-led research sites supporting clinical trial development.

Outsourced Business Services

RCM, credentialing, healthcare staffing, and other services to healthcare providers and facilities.

Dental Practices

General dentistry, specialty dental, and dental support organizations across markets.

Payer & Employer Services

Healthcare technology and services companies working with health plans and employers.

Select Transactions

A proven track record.

30+ closed transactions across healthcare services. BGP served as Exclusive Financial Advisor in each engagement.

Sell-Side
Bella Women's Care
Women's Health
Sell-Side
Palm
Women's Health
Sell-Side
Great Lakes GI
Gastroenterology
Sell-Side
Russell Beck MD
Women's Health
Sell-Side
Gregory Layton MD
Women's Health
Sell-Side
Arizona Women's Health Partners
Women's Health
Sell-Side
Sunrise Women's Healthcare
Women's Health
Sell-Side
New Beginning
Women's Health
Sell-Side
University OBGYN
Women's Health
Sell-Side
Desert Rose
Women's Health
Sell-Side
Mesa OBGYN
Women's Health
Sell-Side
AZ IPC
Pain Management
Sell-Side
Camelback Women's Health
Women's Health
Sell-Side
GHS
Gastroenterology
Sell-Side
My OBGYNE
Women's Health
Sell-Side
Ear Institute of Texas
Otolaryngology
Sell-Side
Laguna
Aesthetics
Sell-Side
Central Phoenix
Women's Health
Sell-Side
APG
Mental Health
Sell-Side
FOG
Women's Health
Sell-Side
Rita Medical Elite
Aesthetics
Sell-Side
Capital City
Mental Health
Sell-Side
Psychiatry Associates of TLH
Mental Health
Sell-Side
Desert Sage
Women's Health
Sell-Side
Comprehensive
Women's Health
Sell-Side
Midtown OBGYN
Women's Health
Sell-Side
Mobile IV Nurses
Wellness
Sell-Side
Renew
Aesthetics
Sell-Side
Optimal Health
Regenerative Medicine
Sell-Side
JAN
Aesthetics
Our Team

The people behind every deal.

Decades of combined experience in investment banking, private equity, consulting, due diligence, and clinical operations — with principal-level involvement on every engagement.

Steve Carmen
Steve Carmen
Managing Partner

Steve has 15+ years of experience in corporate transactions and business development as an advisor, investor, and operator. Prior to forming BGP, Steve was a VP at PwC Corporate Finance providing M&A advisory services in healthcare. He previously led corporate development at two privately-held middle market companies through successful liquidity events, and worked in investment banking focused on M&A, private capital, and capital markets. Steve holds an MBA from Kellogg School of Management at Northwestern University, and a BS in Business from Florida State University. Steve holds FINRA Series 7, 63, and 79 licenses.

Keith Friedenberg MD
Keith Friedenberg, MD
Managing Director, Business Development

Keith has been a practicing gastroenterologist for more than three decades. He founded and led Great Lakes Gastroenterology, which he successfully sold in 2022 — giving him a firsthand perspective on the transaction process that is invaluable to BGP's physician clients. Keith is also Founder and CEO of The Clinical Trials Network, a multi-site clinical research platform supporting 75+ independent physician practices. Keith holds a BA from Cornell, an MD from UCLA, and an MBA from Indiana University.

Andrew Adams
Andrew Adams
Managing Director

Andrew has 15+ years of experience in M&A, strategy, and operations. He served as CFO of a PE-backed company, was an Investment Partner at a family office, and was a consultant at Bain & Company advising Fortune 100 healthcare companies. Earlier in his career, Andrew was an investment professional at Lake Capital and an investment banking analyst at J.P. Morgan. He holds an MBA in Health Care Management from The Wharton School, a BBA from the University of Michigan, and a FINRA Series 79 license.

Daniel Shaw
Daniel Shaw
Managing Director

Daniel has more than a decade of transaction and accounting experience. He was a Director at Alvarez and Marsal providing sell-side and buy-side financial due diligence for PE clients in healthcare, and previously worked at KPMG in audit and transaction advisory. Daniel holds a BS in Accounting from Louisiana Tech University, is a licensed CPA, and holds a FINRA Series 79 license.

Alex Dean
Alex Dean
Vice President

Prior to joining BGP, Alex worked in Strategy & Operations at DaVita, one of the largest kidney care providers in the US. Before business school, Alex served in the U.S. Marine Corps for 8 years as an infantry officer and marine advisor, with experience across Asia, Europe, and South America. He holds an MBA from the University of Virginia Darden School of Business, a BA in Political Science from Seton Hall University, and a FINRA Series 79 license.

Client Testimonials

What our clients say.

The best measure of our work is the outcomes we achieve — and what clients say when the transaction is done.

"The BGP team was wonderful to work with throughout the transaction process — they helped me evaluate the best fit amongst a large pool of buyers and navigated every step throughout the process. I can't say enough about BGP's team dedication, expertise, and relentless commitment working tirelessly to navigate the complexities of the transaction and ensure a seamless closing."

Rita Altman
Founder, Rita Medical Elite

"The Bayshore team was invaluable in guiding us during this process from their initial analysis of our company to meetings with many potential buyers and helping us finalize our partnership decision. They were with us every step of the process."

Serena Tidwell
Founder, Midtown OBGYN & Pink Monarch Breast Center

"Steve did an outstanding job representing us throughout the sale process. Steve listened to and understood our goals in seeking a partnership and helped us think through all decisions, which ultimately led to our successful partnership with Women's Care. His deal expertise and ability to find win-win solutions made him the perfect advisor for us."

Dr. Mani Tehranchi
Owner, Bella Women's Care

"Steve went above and beyond in representing us throughout the sale process. He was always available, had endless energy and was extremely knowledgeable in helping us navigate a complicated process. He helped us evaluate various options and make the best decision for our group. Once we decided on the best partner, the real work began, and Steve kept the process moving forward smoothly."

Gregory Layton, MD
Physician Partner

"Throughout the deal process, Steve was excellent to work with — he helped us navigate every step of the deal process and always made himself available. Steve's experience and approach led us to a successful closing with One GI, and I would absolutely recommend him to anyone."

Dr. Nabil Fahmy
President, Gastroenterology & Hepatology Specialists

"Steve was always present to overcome any challenges that arose during the partnership process. He was my confidant through the entire process and always had my company's best interest in mind. His extensive background in transactions and his keen business sense made him an invaluable resource. I feel fortunate to have worked with Steve through this journey."

Dr. Nikesh Seth
Founder & CEO, Integrated Pain Consultants
Contact Us

Let's start the conversation.

Whether you're a healthcare practice or business owner exploring your options, a referral partner, or an institutional investor, we'd like to hear from you. We respond within one business day.

Phone
813.773.5865
Email
steve@bayshoregp.com
Address
4016 Henderson Blvd
Tampa, FL 33609

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