Edgemont Capital Partners, L.P. has acted as exclusive financial advisor to Northside Emergency Associates (“NEA”) in the sale of the company to Envision Healthcare Corp. (NYSE:EVHC). The transaction closed on June 30, 2017 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group, supported by Vitaliy Marchenko, Associate. Edgemont is the preeminent healthcare-focused middle market investment bank, focused on serving the advisory needs of healthcare providers and entrepreneurs for more than 15 years.
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NEA’s sale continues the trend of hospital outsourced clinical services consolidation, driven by regulatory pressures and most recently the implementation of the Medicare Access and CHIP Reauthorization Act of 2015, and marks the 85th transaction in emergency medicine since 2008. NEA’s more than 65 physicians and advanced practice clinicians staff three of the busiest emergency departments in Northern Atlanta, providing care to over 170,000 patients a year.
“Edgemont’s deep healthcare industry knowledge and transaction experience gave us confidence that NEA’s shareholders would achieve an outstanding result,” said Dr. Robert Higgins, President Emeritus of NEA. “Jeff’s relentless commitment to physicians and intimate understanding of the emergency medicine business resulted in a great transaction for NEA’s shareholders.”
Dr. Larry Brannam, President of NEA, said, “Edgemont’s expert advice and guidance throughout the highly competitive sale process gave NEA’s shareholders comfort in knowing that the practice is joining a partner that will provide the resources necessary to serve the patients in our community. We are grateful to the Edgemont team for its expert advice and guidance throughout the sale process.”
Edgemont’s role as NEA’s exclusive M&A advisor is the firm's eleventh closed transaction on behalf of hospital-based physician groups and management companies and fifth in Emergency Medicine. Edgemont has served as exclusive advisor to Emergency Medicine practices and management companies representing over five million annual emergency room visits. Edgemont previously represented Florida Emergency Physicians in its sale to TeamHealth Holdings Inc.; Premier Emergency Medical Specialists, PLLC in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG); Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc.; Practice Support Resources, LLC in its sale to Intermedix Corporation; Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE:EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE:MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc.; New Jersey Anesthesia Associates in its sale to MEDNAX, Inc.; Anesthesia Services Associates in its sale to PhyMed Management, LLC; and Associated Anesthesiologists of Reno, P.C. in its sale to MEDNAX, Inc.
“No other investment banking firm has represented more large and mid-sized independent hospital-based physician groups,” said Swearingen. “Edgemont is the leading investment bank for independent physician groups. Edgemont’s Physician Services Group serves practices across a broad range of hospital and office-based specialties, including emergency medicine, hospitalist medicine, anesthesia, radiology, dermatology, ophthalmology, urology, urgent care, and occupational medicine.”
About Edgemont Capital Partners, L.P.
Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services to healthcare companies. The firm's deep healthcare industry knowledge, extensive relationship network and substantial M&A transaction expertise allow Edgemont to address healthcare companies' strategic and financing needs with great success. The firm’s principals have closed over 100 healthcare transactions, representing more than $30 billion in value.
For more information on Edgemont Capital Partners, L.P.'s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.
Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.
Mike MacMillan, 212-473-4442