North American Partners in Anesthesia and FOAA Anesthesia Services have merged. No financial terms were disclosed. Raymond James advised FOAA on the transaction. In 2011, Moelis Capital Partners led a recapitalization of NAPA’s practice management company. NAPA is a single specialty anesthesia management company while FOAA is an anesthesia provider in Virginia.
MELVILLE, NY–(Marketwired – March 04, 2014) – North American Partners in Anesthesia (NAPA), the largest single specialty anesthesia and perioperative management company in the United States, and FOAA Anesthesia Services, the largest anesthesia provider in Virginia, today announced a merger of the two organizations, effective immediately. The merger continues NAPA’s expansion into the Mid-Atlantic, with FOAA serving as NAPA’s central hub in that region. The combined organization will continue to focus its efforts on data-driven quality improvement and work to implement a combined vision of building systems and processes that shape the future of anesthesia care delivery.
“Over the years, NAPA’s strengths and competitive advantages have stemmed from our commitment to quality patient care — serving as the critical framework for our growth,” said John F. Di Capua, M.D., CEO of NAPA. “As we continue to strategically grow, the measures of our success will come from aligning with clinicians that share in and further drive our commitment to quality and innovation. We look forward to our new relationship with FOAA and the value that it will bring to the marketplace.”
“Our leadership met with many of the top anesthesia groups around the country to find a partner that shared our values and could further position FOAA in this time of health care reform,” said Vincent J. Vilasi, M.D., MBA, president of FOAA Anesthesia Services. “In NAPA, we found like-minded clinicians who are focused on delivering high quality care through their best-in-class solutions and providing a workplace of choice. In addition, NAPA has a well-positioned infrastructure built for growth and opportunity. FOAA is excited to become a part of the NAPA team, utilizing new resources to better serve our customers and staff.”
FOAA Anesthesia Services has been providing award-winning anesthesia practice management and anesthesia services for patients, surgeons, physicians and healthcare facilities for over 25 years. Named top national performer in the annual Professional Research Corporation’s (PRC) Excellence in Healthcare survey, FOAA has over 210 providers administering 150,000 anesthetics a year at hospitals, ambulatory surgical centers, endoscopy centers and medical and dental office-based practices. FOAA Anesthesia Services offers a full range of anesthesia and pain management services and is dedicated to providing high quality care, outstanding customer service and a work environment of choice. Raymond James served as financial advisor and Waller Lansden Dortch & Davis LLP served as legal advisor to FOAA in the transaction.
About North American Partners in Anesthesia
Founded in 1986, North American Partners in Anesthesia (NAPA) is the leading single specialty anesthesia management company in the United States. NAPA is comprised of the most respected clinical staff, providing thousands of patients with superior and attentive care. The company is known for partnering with hospitals and other health care facilities across the nation to provide anesthesia services and perioperative leadership that maximize operating room performance, enhance revenue, and demonstrate consistent patient and surgeon satisfaction ratings. Moelis Capital Partners, the private equity business of Moelis & Company, led a recapitalization of NAPA’s practice management company, NAPA Management Services Corporation (NMSC) in 2011, providing the company with the ability to pursue growth opportunities and maintain its leadership position in the expanding anesthesia management market. McDermott Will & Emery served as legal advisor to NAPA in the transaction. For more information about NAPA, please visit www.NAPAanesthesia.com.