- Briefing Room
- Consumer Engagement
- Commerce 3.0
Resolute Anesthesia and Pain Solutions, LLC (“Resolute”), a provider of anesthesia and pain management services, has been formed, participants in the venture announced today. Resolute was formed by the physician-founders and partners of Broad Anesthesia Associates and Mid-Florida Anesthesia Associates in a recapitalization led by Goldman, Sachs & Co. (NYSE:GS). The company is based in Boca Raton, Florida.
The recapitalization of Broad Anesthesia Associates and Mid-Florida Anesthesia Associates was led by the Goldman Sachs Private Capital Investing Group. Both anesthesia groups were advised by Cross Keys Capital in the transaction. The newly-formed Resolute is a physician-led organization dedicated to delivering the highest quality of care to its patients. Resolute currently serves over 25 locations in Florida, Missouri, and Illinois and expects to grow by partnering with leading quality anesthesia groups nationally.
Regions Bank has provided a senior credit facility to fund the company’s growth initiatives. The partnership between Resolute and Goldman Sachs is unique in that it allows Resolute’s current and future physician-stakeholders to participate significantly in the future growth of the company.
Andrew Barnett will serve as the company’s Chief Executive Officer. As the former CEO of The Center for Wound Healing, Andrew Barnett has extensive experience building healthcare services organizations of national scale.
Resolute is investing in state-of-the-art revenue cycle management, electronic medical record, practice management, finance, insurance, contracting, and other administrative functions. The company has access to incremental equity and debt financing and expects to partner with other physician groups to create a leading national provider of anesthesia and pain solutions that is dedicated to excellence in clinical care.
As the growing cost of complying with federal and state regulatory requirements increased the time and financial burden of managing their practices, Resolute’s physicians sought a partner who could provide both the capital and the management expertise to grow their company while allowing them to focus on treating patients and providing the best quality of care.
“The practice of medicine requires increasing investments in information technology, operations and compliance,” said Dr. Harvey Plosker, a founding partner of Broad Anesthesia Associates. “Our view is that of all the strategic alternatives we looked at, our partnership with Goldman Sachs provides us with the broadest array of capabilities, including the management expertise and capital that will allow us and our partners to focus on practicing medicine and at the same time realize our long-term strategic goals.”
“We pride ourselves at being ‘ahead of the curve’ with respect to patient management, compliance and the overall patient experience,” said Dr. Marc Levine, a founding partner of Mid-Florida Anesthesia Associates. “We believe this emphasis is a key differentiator for us and the reason we have been so successful. We learned that Goldman Sachs shares this vision, and that our partnership provides Resolute Anesthesia and Pain Solutions with the foundation to deliver anesthesia and pain management services on a national basis with like-minded doctors who believe the patient comes first.”
About Resolute Anesthesia and Pain Solutions, LLC
Headquartered in Boca Raton, FL, Resolute provides anesthesia and pain management solutions to its patients. The company was recently formed by a group of physician partners in a recapitalization led by Goldman, Sachs & Co. Resolute provides state-of-the-art revenue cycle management, compliance, and administrative support capabilities and seeks to partner with leading anesthesia providers nationally. The company currently serves over 25 locations in Florida, Missouri, and Illinois.
About Goldman Sachs Private Capital Investing
Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing preferred equity and mezzanine capital to growth and middle market companies based in North America. PCI invests $20 million - $150 million of equity per transaction in the form of common, preferred, and structured equity. Contact: email@example.com
No related articles found.
Monday, December 9, 2013
Today's Top Stories