COSTA MESA, Calif.--(BUSINESS WIRE)-- The operations of Anesthesia Services, Inc., a leading outsourced anesthesiology physician management company in Colorado, has been acquired by an affiliate of Team Health Holdings, Inc. (NYSE: TMH), one of the largest suppliers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States.
McGladrey Capital Markets LLC initiated the transaction, sourced the acquirer and acted as the exclusive M&A advisor to Anesthesia Services in connection with the transaction.
Founded in 1979, Anesthesia Services and its related entities and clinicians provide comprehensive anesthesia and pain management services to eight facilities in the greater Denver region. With over 80 anesthesiologists and CRNAs, the company has been serving patients and healthcare providers in Denver for more than 30 years.
TeamHealth was founded in 1979. Through its six principal service lines located in 13 regional sites, TeamHealth's approximately 6,600 affiliated healthcare professionals provide emergency medicine, anesthesiology, hospital medicine, and pediatric staffing and management services to more than 700 civilian and military hospitals, clinics and physician groups in 45 states.
Commenting on the transaction, Elliott “Skip” Wohlner, M.D., founder and President of Anesthesia Services, said, “In choosing an investment banking advisor to work with on this process I was looking for a firm that not only had a broad understanding of the healthcare industry generally, but also in-depth insight into the anesthesia practice management sector. Paul Kacik, Chris Dedic and the entire McGladrey Capital Markets healthcare team brought a high level of experience to the table and a strong understanding of our business. This experience ultimately enabled our company to find the perfect partner in TeamHealth.”
“Given the strong reputation of Anesthesia Services and the leading position the company holds in the greater Denver region, we were pleased to advise the company on this important assignment,” said Paul Kacik, managing director and head of Healthcare Investment Banking at McGladrey Capital Markets.
Kacik added that his team expected significant interest from multiple parties as both strategic buyers and private equity groups alike continue to show interest in acquiring growing anesthesia practice management companies. “Our healthcare team worked closely with Dr. Wohlner and his team to best position Anesthesia Services to find the ideal partner capable of supporting the company’s growth initiatives going forward. With a number of highly attractive offers to choose from, TeamHealth ultimately presented itself as the best partner given the strong cultural fit between the two companies, TeamHealth’s commitment to growing its anesthesia service line, and the obvious synergies between the two companies.”
About Anesthesia Services
Founded in 1979, Anesthesia Services is a leading outsourced anesthesiology physician management group whose 46 anesthesiologists and 36 CRNAs serve five hospitals and three ambulatory surgery centers in the greater Denver, Colo., area.
TeamHealth (NYSE: TMH) was founded in 1979 and has become one of the largest suppliers of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States. Through its six principal service lines located in 13 regional sites, TeamHealth’s approximately 6,600 affiliated healthcare professionals provide emergency medicine, anesthesiology, hospital medicine, and pediatric staffing and management services to more than 700 civilian and military hospitals, clinics, and physician groups in 45 states. The term “TeamHealth” as used throughout this release includes TeamHealth, Inc. and all of its related entities, companies, affiliates, subsidiaries and affiliated physician groups.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.
Sharon Noot, 714.527.7735
KEYWORDS: United States North America California Colorado
INDUSTRY KEYWORDS: Practice Management Health Hospitals Professional Services Banking Finance General Health