TeamHealth, a Knoxville, Tenn.-based provider of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers, has acquired Anesthetix Management LLC, a Palm Beach Gardens, Fla.-based provider of anesthesiology and pain management services. No financial terms were disclosed. TeamHealth is owned by The Blackstone Group, and is in registration for a $100 million IPO. Anesthetix Management raised private equity funding in 2006 from Summit Partners.
PRESS RELEASE
TeamHealth (NYSE: TMH) announced today the acquisition of Anesthetix Management LLC (“Anesthetix”), a nationally recognized provider of comprehensive anesthesiology and pain management service solutions to hospitals and surgery centers throughout the United States. Headquartered in Palm Beach Gardens, Fla., Anesthetix currently serves clients in 10 states. For the twelve months ending September 30, 2009, Anesthetix reported net revenue of approximately $53 million.
“One of the reasons we were attracted to TeamHealth is that they share our commitment to metrics-driven quality and customer-focused service,” says Steven M. Gottlieb, M.D., President and CEO of Anesthetix. “By partnering with TeamHealth, we will have a deeper pool of proven resources to better serve our hospital partners, our surgeon customers, and our outstanding clinicians. This expands our vision for a local delivery model supported by a national platform.” Dr. Gottlieb is one of the group’s co-founders and will serve as CEO of TeamHealth’s anesthesia service line. The group’s other co-founder, Tushar Ramani, M.D., will remain with the organization as President of TeamHealth’s anesthesia service line.
“Anesthetix has a reputation for recruiting and retaining high quality physicians and CRNAs. We are pleased to have a group of their caliber join TeamHealth,” says Greg Roth, President and CEO, TeamHealth. “Our partnership with Anesthetix also demonstrates our commitment to meeting the needs of our hospital clients by providing them with a broader spectrum of services.”
About Anesthetix
Founded in 2000, Anesthetix is a nationally recognized provider of comprehensive anesthesiology and pain management services for hospitals and surgery centers throughout the United States. Working with more than 180 providers in 10 states, Anesthetix has developed a unique service platform sought after by both healthcare providers and healthcare managers alike.
About TeamHealth
TeamHealth (Knoxville, Tenn.) (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 seven principal service lines located in 13 regional sites, TeamHealth’s more than 6,200 affiliated healthcare professionals provide emergency medicine, hospital medicine, anesthesiology, teleradiology, urgent care, and pediatric staffing and management services to more than 560 civilian and military hospitals, clinics, and physician groups in 48 states. For more information about TeamHealth, visit www.teamhealth.com.
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