Seoul Medical Group
Seoul Medical Group is a Long Beach, California-based, privately held multi-specialty healthcare provider founded in 1993, delivering primary, laboratory, diagnostic, special care, and clinical services to the Korean-American community in Southern California, and backed by Ascend Capital Partners' Fund II.
- Company typePrivate
- Founded1993
- HeadquartersLong Beach, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Seoul Medical Group does
Seoul Medical Group is a Long Beach, California-based, privately held multi-specialty healthcare provider founded in 1993. It delivers primary, laboratory, diagnostic, special care, and clinical healthcare services, with an apparent demographic focus on the Korean-American community in Southern California. The group operates with 51-100 employees and is led by President Min Cha. It is backed by Ascend Capital Partners, a healthcare-focused private equity firm, through an investment from Ascend's $791 million Fund II, which targets physician and provider services, value-based care enablement, and healthcare IT businesses. On 2025-03-10, Seoul Medical Group acquired Korean American Medical Group, signaling a consolidation strategy within the Korean-American physician services segment.
The company's revenue model is consistent with a multi-specialty physician group: fee-for-service clinical care supplemented, based on the regulatory profile, by significant participation in federal healthcare programs such as Medicare Advantage. The group has been subject to a Department of Justice False Claims Act settlement exceeding $60 million in fiscal year 2025, recorded as part of record-breaking $6.8 billion in False Claims Act recoveries that year — an event that signals heavy reliance on government reimbursement and creates a material overhang on financial predictability.
Strategically, the company is positioned at the intersection of ethnic-specific community healthcare delivery, value-based care enablement (per its PE backer's thesis), and federal-program risk. The combination of an active M&A posture (Korean American Medical Group), capital sponsorship from a healthcare-specialist PE firm, and an unresolved regulatory liability makes Seoul Medical Group a consolidation play in a niche demographic segment whose near-term trajectory is heavily dependent on regulatory remediation and successful integration of acquired providers.
Seoul Medical Group firmographics
Firmographics- Name
- Seoul Medical Group
- Website
- https://seoulmedicalgroup.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Seoul Medical Group is a Long Beach, California-based, privately held multi-specialty healthcare provider founded in 1993, delivering primary, laboratory, diagnostic, special care, and clinical services to the Korean-American community in Southern California, and backed by Ascend Capital Partners' Fund II.
- Ownership category
- akta.pro rank
Seoul Medical Group industry classification
Industry- Product category
- Physician Group Practice
- NAICS
- Offices of Physicians (except Mental Health Specialists) (621111), All Other Outpatient Care Centers (621498)
- SIC
- Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Specialty Outpatient Facilities, Nec (8093)
- akta.pro primary industry
- Hospital-Owned Physician Networks & Medical Groups (HLAFAAAL)
Keywords
Where Seoul Medical Group is headquartered
LocationHeadquarters
- HQ city
- Long Beach
- HQ country
- United States
- HQ region
- North America
Markets served
Seoul Medical Group business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Seoul Medical Group product offering
Product offeringCore offering
Seoul Medical Group is a healthcare institute that delivers primary, laboratory, diagnostic, special care, and clinical healthcare services. Founded in 1993 and headquartered in Long Beach, California, it operates a physician-group practice model providing integrated outpatient care, with a particular focus on the Korean-American patient community.
Differentiator
Problem solved
Functional benefit
Products and services
- Primary Care
- Laboratory Services
- Diagnostic Services
- Specialty Care
- Clinical Healthcare Services
Companies that use Seoul Medical Group
Customer profileIdeal customer profiles1 record
Seoul Medical Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Seoul Medical Group partnerships and signals
Strategic signalScale indicators1 record
Recent moves3 records
Expansion highlights3 records
Seoul Medical Group competitors and assessment
Company assessmentDirect peers
- Korean American Medical Group: Korean American-focused multi-specialty physician group recently acquired by Seoul Medical Group (2025-03-10); operates the same community-focused primary and specialty care model in an overlapping Southern California footprint.
- Herald Christian Health Center: Community-based Asian-American multi-specialty FQHC-like group in the San Gabriel Valley offering primary, lab, diagnostic, and behavioral health services; comparable as an ethnic-community-anchored multi-specialty provider in Southern California.
- Garfield Health Center: Multi-site Asian-American community health network offering primary care, lab, and specialty services in the Greater Los Angeles area; comparable community-focused multi-specialty footprint and payer mix.
- Chinatown Service Center: Asian-American community health center providing multi-specialty primary, lab, diagnostic, and enabling services in Los Angeles; comparable as a culturally aligned, community-anchored multi-specialty provider in the same metro region.
- ChenMed: Privately held, family-owned multi-specialty physician group operating full-risk Medicare Advantage clinics for senior patients; closely comparable as a PE-backed/privately held multi-specialty group built on value-based care.
Broad incumbents
- Astrana Health (formerly Apollo Medical Holdings): Public, PE-style multi-specialty physician group and IPA platform operating value-based-care contracts across Asian American communities in California; comparable in panel model, MA risk-bearing, and Asian-American demographic focus, but at much larger scale.
- Privia Health: Physician-enablement platform supporting multi-specialty groups in value-based contracts across multiple states; comparable in offering multi-specialty medical group infrastructure with payer contracting and population-health tooling.
- Oak Street Health (CVS Health): National value-based primary care group focused on Medicare-eligible adults, owned by CVS Health; overlaps with Seoul Medical Group in risk-bearing primary care and lab/diagnostic integration, but operates at vastly greater scale.
- One Medical (Amazon One Medical): Membership-based multi-specialty primary care platform with owned clinics and integrated lab/diagnostic services — overlapping service mix (primary, lab, diagnostic, special care) but serving a broader, less community-specific population.
- agilon health: Public value-based-care enablement platform partnering with primary care physician groups to take Medicare Advantage risk; comparable business model (PCP-anchored risk-bearing groups) and target payer mix, though at national scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
Seoul Medical Group social profiles
Digital presenceSeoul Medical Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Seoul Medical Group leadership team
Management profileNumber of profiles
Profiles1 record
Seoul Medical Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Seoul Medical Group M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Seoul Medical Group
What does Seoul Medical Group do?
Seoul Medical Group is a healthcare institute that delivers primary, laboratory, diagnostic, special care, and clinical healthcare services. Founded in 1993 and headquartered in Long Beach, California, it operates a physician-group practice model providing integrated outpatient care, with a particular focus on the Korean-American patient community.
When was Seoul Medical Group founded?
Seoul Medical Group was founded in 1993. It employs 51 to 100 people.
Where is Seoul Medical Group based?
Seoul Medical Group is headquartered in Long Beach, United States, in the North America region.
Who are Seoul Medical Group's main competitors?
Direct peers on record are Korean American Medical Group, Herald Christian Health Center, Garfield Health Center, Chinatown Service Center and ChenMed. Broad incumbents are Astrana Health (formerly Apollo Medical Holdings), Privia Health, Oak Street Health (CVS Health), One Medical (Amazon One Medical) and agilon health.
Does Seoul Medical Group have an API?
No public API is recorded for Seoul Medical Group.
What industry is Seoul Medical Group in?
Seoul Medical Group's product category is Physician Group Practice. Its primary akta.pro industry code is HLAFAAAL, Hospital-Owned Physician Networks & Medical Groups. Its NAICS code is 621111 and its SIC code is 8011.