Physicians Endoscopy is one of the largest single-specialty ASC management companies in the U.S. and recently celebrated 20 years in business.
Here are 10 things to know.
1. Based in Jamison, Pa., Physicians Endoscopy is single-specialty management company focused in gastroenterology.
"It was a bold idea to dedicate an entire organization to only one specialty, but it was our strategic vision to do one thing and do it really well," said President and CEO Barry Tanner.
2. Physicians Endoscopy operated 57 gastroenterology-focused facilities in 15 states as of March 1. Its network includes 18 hospital systems and more than 560 gastroenterologists.
3. President and CEO Barry Tanner helped the organization develop its business plan when he joined the company in 1999 and is considered one of its founders, along with CFO Karen Sablyak. Mr. Tanner was previously CFO of Navix Radiology Systems, which he also co-founded.
4. Physicians Endoscopy offers flexible partnership models enabling it to acquire a majority or minority ownership in GI-licensed ASCs and touts transactions that typically close within 90 days.
5. In August 2016, Kelso & Co. acquired Physicians Endoscopy from Pamlico Capital in a recapitalization transaction with management. Pamlico exited its investment in Physicians Endoscopy at that time, three years after it had acquired the company. Terms of the transaction with Kelso & Co. weren't disclosed.
6. In 2017, Physicians Endoscopy finalized a strategic partnership with Hillsborough, N.J.-based Central Jersey Ambulatory Surgical Center and acquired a minority stake in East Patchogue, N.Y.-based Great South Bay Endoscopy. At the end of 2016, Physicians Endoscopy finalized a joint venture with physicians from the Gastroenterology Group PA, the Center for Colon and Rectal Health and St. Mary Medical Center, all based in Langhorne, Pa.
7. Physicians Endoscopy added Frontier Healthcare to its network in 2017, bringing 15 more centers into its portfolio. The PE Gastro practice management division was also introduced last year.
8. Physicians Endoscopy has a team of more than 225 employees and received the Best Employee Recognition Program Award from Recruitment Queen in 2016. In 2012, the company won the Cost Management Performance Award at the MedAssets Healthcare Business Summit. Calkins Media named CEO Barry Tanner Best Employer and Best Boss in 2017.
9. Physicians Endoscopy centers will perform an estimated 535,000 procedures in 2018.
10. Physicians Endoscopy actively supports Get Your Rear in Gear Philadelphia, a fundraising event in collaboration with the Colon Cancer Coalition, and AliveAndKickn, a hereditary cancer foundation. It engages with these organizations and undertakes other community awareness efforts with the goal of increasing colon cancer screenings in its partnered centers.