Edgemont Capital Partners was the exclusive financial advisor to Anesthesia Services Associates in the company's sale to PhyMed Management.
Here are five key notes on the transaction:
1. The sale was Edgemont's seventh closed transaction on behalf of hospital-based physician groups and management companies, and the fifth transaction in anesthesia.
2. ASA will provide anesthesia management and staffing for TriStar Hendersonville Medical Center, and HCA hospital, and several ambulatory surgery centers.
3. Edgemont Managing Director and Co-Founder Jeff Swearingen led the transaction, which closed on Nov. 16. He is also the firm's physician services group head. Luke Mitchell and Reid Peterson also participated in the transaction.
4. Waller Lansden Dortch & Davis acted as legal counsel to ASA in the transaction.
5. Edgemont is the exclusive advisor to anesthesia practices and management companies accounting for more than 400,000 cases annually.
"Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire," said Mr. Swearingen. "Edgemont is unsurpassed in its success in advising physician practices."