EHP backers merger of Synergy Surgicalists and EA Health

Enhanced Healthcare Partners has made an investment in the merger of Synergy Surgicalists and EA Health.

Enhanced Healthcare Partners has made an investment in the merger of Synergy Surgicalists and EA Health. No financial terms were disclosed. Synergy Surgicalist is a provider of surgicalist staffing in the acute care setting while EA Health is a provider of specialty physician on-call compensation solutions and physician staffing services.

PRESS RELEASE

NEW YORK, NY (June 2, 2020) — Enhanced Healthcare Partners (“EHP”), a leading New York-based private equity firm specializing in middle-market healthcare businesses, is pleased to announce its joint investment in the business merger of Synergy Surgicalists—one of the nation’s top providers of surgicalist staffing in the acute care setting—and EA Health—the nation’s leading provider of specialty physician on-call compensation solutions and physician staffing services (together, “EA-Synergy” or the “Company”).

The Company will offer integrated, high performance clinical staffing and management services for emergency medicine, orthopedic and general surgery staffing and specialty on-call services. The merger of the businesses will provide enhanced value to all stakeholders—patients, hospitals and clinicians—with a suite of solutions to drive patient care, physician satisfaction and hospital efficiencies.
Industry veteran Bill Sanger, chairman of EA Health and former chairman and chief executive officer of Envision Healthcare, has led numerous physician-focused platforms in a distinguished career.

“There exists a tremendous opportunity for innovation in managing the complexities of today’s emergency departments,” said Sanger. “Our Company will leverage significant leadership experience, analytics and a ‘physician-first’ culture to drive results for our hospital clients.”

The Company’s strategy is driven by the thesis that an integrated emergency medicine model offers greater efficiency and efficacy. EA-Synergy will extend hospital-based emergency medicine to include general surgery and orthopedics. The hospital-based physician team will be further complemented by a robust community-based, specialty on-call panel that is aligned with hospital goals. Robust analytics, provided by EA Health’s technology, offer physicians and hospitals valuable insight to drive quality and performance measures.

“We are excited to partner with an exceptional leadership team to drive EA-Synergy as a solution that brings positive change in emergency and acute care medicine,” EHP General Partner Samarth Chandra commented. “The current pandemic has only reinforced the essential role our hospitals play in the care delivery system. This Company will be an advocate for physicians and hospitals in evolving emergency and acute medical services.”

The leadership team combines distinguished executives from both organizations and is led by Chief Executive Officer Sriram Iyer.
“We endeavor to be a true partner to physicians and hospitals,” said Iyer. “Our ability to drive better patient outcomes and greater efficiency will elevate and transform many hospital-based care delivery systems.”

Founded in 2012, Synergy is a market leader in the nascent surgicalist staffing market. The surgicalist role is a relatively new one in American healthcare; surgicalists are orthopedic and general surgeons who work in an acute care setting and complete the on-call shift work required to staff a hospital with around-the-clock care. Traditionally, hospitals have relied on surgeons living within the community who also work in private, office-based practices to fill on-call emergency department rotations. This juggling act can lead to challenges for both physicians and hospitals. The innovative surgicalist model has been designed to address these challenges, as well as to provide substantial professional benefits to surgicalist physicians.

“Synergy was founded to provide top quality surgeons new career opportunities while addressing hospital staffing challenges,” said Dr. John Campbell, Chief Executive Officer of Synergy Surgicalists. “The surgicalist approach has shown clear benefits, and we believe the growth opportunity to be significant.”

Founded in 1992 by Dr. Art Gruen, EA Health provides the infrastructure backbone for the combined Company’s vision. For nearly three decades, EA Health has applied its robust data warehouse, advanced analytics and revenue cycle management solutions to support physicians and hospitals in operating their emergency medicine programs with greater transparency and efficiency.

Said Dr. Gruen, “This new platform will leverage an extraordinary leadership team with the experience and insight to take advantage of a strong market opportunity.”

EHP’s legal representation was provided by Goodwin Procter LLP. Synergy was advised by Brown Gibbons Lang & Company. Terms of the transaction were not disclosed.