A leading hospital-based provider of anesthesia services, along with two affiliated companies: i) Southeast Pain Care, a leading pain management company, and ii) Quantum CNS, a quality management healthcare IT provider.
Brookwood Associates advised the shareholders of SAC on its sale to MEDNAX, Inc. (NYSE: MD).
The Situation – SAC was founded in 1981 and grew into one of the leading and highest quality providers in the U.S. The Company had growing opportunities for significant, accelerated expansion, and sought new ownership to support its next phase of development.
Brookwood Process – Brookwood positioned SAC’s substantial competitive advantages to achieve an excellent result. The marketing process generated high interest from a variety of financial and strategic acquirors. Effective negotiations and process management enabled the sale to close at an attractive value and terms.
Excellent Result – The transaction, which was one of the largest in the sector, exceeded SAC shareholder expectations. It resulted in an excellent new owner, who is supporting the Company’s continued expansion, and providing opportunities for management and former shareholders to continue to lead the practice and share in its growth.
Press Release Excerpt
We are pleased to announce that Brookwood Associates advised the shareholders of Southeast Anesthesiology Consultants on the sale of the Company to MEDNAX, Inc. (NYSE: MD). The current management team will continue to operate the business going forward. SAC is a leading physician group practice with over 90 physicians providing anesthesia care, pain management services, and quality management IT solutions to hospitals, ambulatory surgery centers, and pain management centers. SAC’s deep clinical expertise and scalable physician management operations were highly attractive attributes to potential acquirors.
This transaction, which comprised one of the largest in the outsourced physician services sector, extends Brookwood’s substantial experience in healthcare. Outsourced anesthesiology services is a highly attractive sector to acquirors, while consolidation in hospital-based physician services continues to gain momentum as physicians seek scale advantages. Transaction activity in healthcare IT also remains brisk as providers and payers seek to improve patient outcomes and lower costs by leveraging new information technology.