Audax Private Equity has announced it will sell United Urology Group (UUG) to OneOncology.

UUG, founded in 2016 and based in Owings Mills, Maryland, is a management services organization for a network of urology affiliate practices with locations in Arizona, Colorado, Delaware, Maryland and Tennessee.

Audax, with private equity offices in Boston, New York and San Francisco, focuses on investments in middle market companies and has a wide flexibility on investment size. Founded in 1999, the firm targets companies within healthcare and several other industries, specifically those generating between $5 million and $80 million in annual EBITDA.

OneOncology, founded in 2018 and based in Nashville, Tennessee, is a national network of independent oncology practices.

Terms of the transaction, expected to be completed by the end of 2024, were not disclosed.