FT. LAUDERDALE, Fla., Jan. 6, 2014 /PRNewswire/ --Pinnacle Anesthesia today announced it will become a founding partner in U.S. Anesthesia Partners ("USAP"), an anesthesia-focused physician services organization.
Dallas-based Pinnacle Anesthesia ("Pinnacle") will join Greater Houston Anesthesiology ("GHA") and Orlando, Fla.-based JLR Medical Group as a partner in USAP, bringing together the two largest anesthesia groups in Texas and three of the largest in the country. Each will continue to operate under their individual brands within their markets.
"We are thrilled to join together with these highly-respected anesthesia groups to form an organization that will reshape our industry," said Dr. Scott Holliday, vice chairman of the Pinnacle Board of Directors. "The shared experience between our organizations is going to lead to new insights into patient care, provide peer support for our physicians, and create new opportunities for our employees."
"Uniting the two largest anesthesia groups in Texas is a unique opportunity that will benefit our hospital clients and our patients," said Kris Bratberg, President and CEO of USAP. "Our clients are rapidly becoming larger and more sophisticated in terms of what they expect from their service providers. We are building an anesthesia group in Texas and beyond to meet the increasing needs of these larger clients. USAP's growth strategy is to invest in and partner with the nation's leading anesthesia groups, positioning them for continued success and growth in a dynamic healthcare environment."
Working together with its new physician partners, USAP will support Pinnacle's growth plans and its position as a leading provider of quality anesthesia and perioperative care services. A key component of the USAP strategy is to invest in IT systems that will drive efficiencies in provider workflow and the management of perioperative care services. In addition, USAP and EmCare, Inc. (Pinnacle's former practice management services provider) have entered into an agreement pursuant to which USAP and EmCare, Inc. (i) have agreed to transfer to USAP the assets of the EmCare management service organization that provides practice support functions to Pinnacle, (ii) EmCare will continue to provide consulting services to USAP and (iii) will evaluate opportunities for future collaboration.
"Due to industry reform, our hospital clients and payors are asking for increased data on patient outcomes, which requires a significant investment in IT," said Michael Saunders, CEO of Pinnacle. "With this USAP partnership, we will be in a position to make investments that will not only fulfill their needs, but allow us to be in a position where we will be ahead of reform. We will be able to grow in ways we never could have independently."
Anthony Norris and Christopher Parsons of Ropes & Gray, LLP, provided legal counsel to USAP during the creation of this partnership. Eric Klein and Aytan Dahukey from Sheppard Mullin represented Pinnacle.
About Pinnacle Anesthesia
Pinnacle Anesthesia is the anesthesia leader in the Dallas/Ft. Worth area, and one of the largest anesthesia groups in the United States. Pinnacle Anesthesia has over 500 anesthesia providers practicing at over 100 facilities. Pinnacle Anesthesia is known for its rigorous quality assurance and peer review process. For more information visit www.pinnaclepartnersmed.com.
About U.S. Anesthesia Partners
U.S. Anesthesia Partners is a single-specialty physician services organization that offers practice management to anesthesiologists. It was formed by leading anesthesia practices to create a platform with the capital resources and expertise to invest in their practice support infrastructure and position them for continued success and growth within their markets. Key elements of USAP's business model are its single-specialty focus and its ability to offer anesthesiologists equity ownership in USAP. USAP and its affiliates have more than 1,200 anesthesia providers serving three major metropolitan markets. USAP is sponsored by Welsh, Carson, Anderson & Stowe, an investment firm with significant experience investing in and building leading healthcare companies. Please visit www.usap.com to learn more.
SOURCE U.S. Anesthesia Partners
