CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM), announces that it completed an accretive transaction whereby the Company has acquired Oak Tree Anesthesia Associates, LLC (“Oak Tree”), a gastroenterology anesthesia practice located in Edison, New Jersey. Oak Tree represents the Company’s 32nd acquisition, and provides anesthesia services to a single ambulatory surgery center located in New Jersey.
CRH Medical Corporation (TSX: CRH) (NYSE: CRHM) (“CRH” or the “Company”) today announced that it has signed a definitive agreement (the “Acquisition Agreement”) with Well Health Technologies Corp. (“WELL Health” or “WELL”), pursuant to which WELL Health will acquire all of the issued and outstanding shares of CRH for US$4.00 per share, representing an aggregate purchase price of approximately US$292.7 million (the “Acquisition”) and a transaction value of approximately US$369.2 million inclusive of credit facility. CRH Medical Corporation is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases.
National Partners in Healthcare (NPH), a national healthcare organization delivering best in class anesthesiology services, announced today that Intermountain Anesthesia Consultants (IAC) has joined NPH. NPH is a joint venture between Archimedes Health Investors LLC, a healthcare-focused private equity firm, and Assured Healthcare Partners® (AHP®), a private equity firm providing growth, consolidation, and repositioning capital solutions in the healthcare services industry.
2020 was a very exceptional year. The coronavirus had a profound impact on the U.S. economy, American medicine and the specialty of anesthesia. While case volumes have recovered for most clients, the implications of the canceling of elective cases in March proved to be one of the ultimate practice management challenges. A careful review of the trends sheds some interesting light on the future of the specialty.
There is often a cause-and-effect relationship between higher utilization and lower reimbursement within the healthcare sector. This relationship is coming into sharp focus with the surge of seniors now entering the Medicare program.
CRH Medical Corporation (“CRH”, or the “Company”) (TSX: CRH) (NYSE MKT: CRHM), announces that it completed an accretive transaction whereby the Company has acquired a 51% interest in FDHS Anesthesia, LLC (“FDHS”), a gastroenterology anesthesia practice located in Sarasota, Florida. FDHS represents the Company’s 31st acquisition, and provides anesthesia services to two ambulatory surgery centers located in Florida. The transaction was financed through a combination of CRH’s credit facility and cash on hand.
Literature GAO reviewed indicated that private insurance payments for anesthesia services on average were more than 3-1/2 times those of Medicare payments. This payment difference increased from what GAO reported in 2007— average private insurance payments for certain anesthesia services in 2004 were about 3 times those of Medicare. While Medicare rates for anesthesia services are set by the Centers for Medicare & Medicaid Services (CMS), private insurance rates are set through negotiations between providers and private insurers.
Endoscopy cases had been an increasing line of business for many anesthesia practices in recent years, but revaluing of certain endoscopy-related anesthesia codes and the lingering effects of the COVID pandemic have caused concern among some groups. This article will explore where anesthesia currently stands as it concerns endoscopic cases.
National Partners in Healthcare (NPH), a national healthcare organization delivering best in class anesthesiology services, announced Thursday that Rocky Mountain Anesthesiology (Rocky) has joined NPH. “We are extremely excited about launching our partnership model in Utah with Rocky and their unwavering dedication to high quality anesthesia to the patients, surgeons and facilities they serve in Ogden,” said Mike Saunders, CEO of NPH. “Adding Rocky to NPH expands our commitment to adding high quality leaders in the anesthesia community.” NPH is a joint venture between Archimedes Health Investors LLC, a healthcare-focused private equity firm, and BlueMountain Capital Management LLC, an investment firm with extensive experience building enduring partnerships in the healthcare industry.
NorthStar Anesthesia (“NorthStar” or the “Company”), one of the country’s leading anesthesia care providers and managers, announced Tuesday that Anesthesia Consulting & Management, LP, has completed an acquisition of select anesthesia services businesses of Surgery Partners, Inc. (NASDAQ:SGRY) (“Surgery Partners”), a leading short-stay surgical facility owner and operator. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the U.S. Surgery Partners’ anesthesia business provides and manages third party providers of anesthesia services at 25 locations across select Surgery Partners facilities in Georgia, Florida, Kentucky, North Carolina and Texas.
What We Do
Who We Are
How We Work
Who We Help
Get In Touch
Connect With Us
Subscribe to Our Daily Note
We publish a Daily Note that aggregates M&A activity, notable developments, regulatory changes, and conferences we deem to be of interest to our partners. It is a quick afternoon read and an easy way to keep your finger on the pulse of the healthcare space. Please fill in your name and email address below if you wish to subscribe.