Fort Lauderdale, Fla.-based Cross Keys Capital served as the financial advisor to Anesthesia Associates of Cincinnati and Pain Management Associates in its sale to TeamHealth.
Here are five key points:
1. Cross Keys' Managing Director Bill Britton and Vice President Marjorie Chang led the transaction between the two companies.
2. AAC offers anesthesiology staffing at The Christ Hospital and TriHealth Evendale Hospital, both located in Cincinnati, as well as four ambulatory surgery centers.
3. Pain Management Associates, which is a specialized division of AAC, provides full-range pain management treatments.
4. With the current transaction, AAC and Pain Management Associates will be able to enhance care coordination in critical hospital-based clinical specialties.
5. Cross Keys has now closed 53 transactions for physician group practices. The firm has successfully represented 27 anesthesiology groups in their sales.
"Our deep experience across anesthesiology practices nationally and our total dedication to serve and truly advise all of our clients remains paramount to our process," said Mr. Britton, co-founder of Cross Keys. "The market for high quality anesthesiology groups continues to be strong. Valuations remain high and consolidation continues."