IRVING, Texas, Sept. 15, 2020 /PRNewswire/
-- NorthStar Anesthesia ("NorthStar" or the "Company"),
one of the country's leading anesthesia care providers and
managers, today announced that Anesthesia Consulting &
Management, LP, has completed an acquisition of select
anesthesia services businesses of Surgery Partners, Inc.
(NASDAQ:SGRY) ("Surgery Partners"), a leading short-stay surgical
facility owner and operator.
Founded in 2004, Surgery Partners is one of the largest and
fastest growing surgical services businesses in the U.S. Surgery
Partners' anesthesia business provides and manages third party
providers of anesthesia services at 25 locations across select
Surgery Partners facilities in Georgia, Florida, Kentucky, North
Carolina and Texas.
Through its outsourced and managed anesthesia service providers,
NorthStar provides operating room efficiencies and improved
clinical outcomes to hospitals and ambulatory surgery centers
("ASCs") across the country. Since the Company's founding in 2004,
NorthStar has successfully transitioned anesthesia departments in
more than 120 facilities in 19 states and is focused on further
expansion through a combination of organic and acquisition-driven
growth opportunities.
This acquisition is consistent with NorthStar's growth strategy
to expand the Company's provision and management of providers of
anesthesia services to facilities in markets where NorthStar
already operates. This transaction will further expand NorthStar's
presence in its core markets including Georgia as well as areas in the Midwest,
Mid-Atlantic and Southeast, strengthening the Company's ability to
provide high quality, efficient anesthesia care.
"We are pleased to complete our acquisition of these anesthesia
services businesses and strategically expand our best-in-class
anesthesia services during a dynamic time for our industry," said
Adam Spiegel, Chief Executive
Officer of NorthStar. "A trusted provider in the anesthesia space,
Surgery Partners' anesthesia services businesses offer NorthStar a
compelling opportunity to further strengthen our presence in our
core markets while expanding our footprint within ASCs, an
attractive and fast-growing care setting. This transaction
underscores our commitment to sustainable, long-term growth and we
look forward to working closely with the Surgery Partners team as
we continue providing the highest quality of service and patient
care."
"Today's announcement marks another milestone as Surgery
Partners executes on its strategy to focus on its core short-stay
surgical business. NorthStar has extensive experience providing
patients with premier anesthesia care and an impressive track
record of delivering solutions to the hospitals and surgery centers
its serves," said Eric Evans, Chief
Executive Officer of Surgery Partners. "This transaction represents
a terrific outcome for our customers and centers, and we are
confident the business is well-positioned for success as part of
NorthStar."
Katten Muchin Rosenman LLP served as legal counsel to NorthStar.
Greenhill & Co. served as exclusive financial advisor to
Surgery Partners and McDermott Will
& Emery served as its legal counsel.
About NorthStar Anesthesia
NorthStar Anesthesia
is a company of caregivers, founded by an anesthesiologist and a
Certified Registered Nurse Anesthetist (CRNA). NorthStar partners
with hospitals and ambulatory surgery centers to deliver a more
productive and efficient model of anesthesia care. Its "care team"
approach focuses on the provision of high-quality care while
measurably improving operating room performance. For more
information, visit www.northstaranesthesia.com.
About Surgery Partners
Headquartered in Brentwood, Tennessee, Surgery Partners is a
leading healthcare services company with a differentiated
outpatient delivery model focused on providing high quality, cost
effective solutions for surgical and related ancillary care in
support of both patients and physicians. Founded in 2004, Surgery
Partners is one of the largest and fastest growing surgical
services businesses in the country, with more than 180 locations in
30 states, including ambulatory surgery centers, surgical
hospitals, multi-specialty physician practices and urgent care
facilities. For additional information, visit
www.surgerypartners.com.
Media Contacts:
NorthStar Anesthesia
Jonathan Keehner / Julie
Oakes / Julia Sottosanti
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
Surgery Partners
(615) 234-8940
IR@surgerypartners.com
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SOURCE NorthStar Anesthesia