As Contract Lapses, Community Regional Anesthesia Medical Group Declares Bankruptcy

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Community Regional Anesthesia Medical Group is seeking Chapter 11 protection, which allows for reorganizing the business and paying back creditors – in this case, Community Medical Centers. It filed a Chapter 11 Petition with the United States Bankruptcy Court in Fresno Tuesday. Community Regional Anesthesia Medical Group provides anesthesia services to Community Medical Centers at its three major hospitals: Clovis Community Medical Center, Community Regional Medical Center and Fresno Heart and Surgical Hospital.

Anesthesia through the Lens of Demographics

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The prevailing view among most anesthesia providers is that their patient populations are slowly aging. To assess the impact of demographic trends on its clients, Anesthesia Business Consultants conducted a review of 20 large groups from all across the country based on changing age and gender patterns over a period of five years, from 2016 to 2020. Curiously, the percentage of patients over 65 actually decreased from 2016 to 2020, from 45 percent of the total patient population to 40 percent. This may or may not be good news, depending on one’s perspective.

WELL’s CRH Medical Acquires Majority Stake in Two Anesthesia Practices

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WELL Health Technologies Corp. (TSX: WELL) (“WELL” or the “Company”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce its wholly owned subsidiary, CRH Medical Corporation (“CRH”), has completed two accretive transactions whereby the company has acquired a 51% stake in Northern Indiana Anesthesia Associates, LLC (“NIAA”) and an add-on practice in Bradenton, Florida which will be part of CRH affiliate, FDHS Anesthesia, LLC (“FDHS”).

Janet Elkin’s ICON Medical Network Holdings Acquires Independence Anesthesia Services

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ICON Medical Network Holdings (ICON), a national locum tenens provider creating solutions for physician and advanced practice staffing, has acquired Independence Anesthesia Services (Independence), an anesthesia provider agency with over 17 years of experience representing locum tenens provider assignments. The strategic acquisition will help in meeting the needs of healthcare staffing across the nation.

WELL’s CRH Medical Announces Acquisition of New England Anesthesia Associates

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WELL Health Technologies Corp. (TSX: WELL) (“WELL” or the “Company”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce its wholly owned subsidiary, CRH Medical Corporation (“CRH”), has completed an accretive transaction whereby the company has acquired an 85% stake in New England Anesthesia Associates LLC (“NEAA”) effective May 1, 2021. NEAA provides anesthesia services to an ambulatory surgical center in Guilford, Connecticut along with other staffing services that serve the surrounding region. It represents CRH’s 34th acquisition to date.

PhyMed, Backed by OTPP, Awaits Final Bids

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Ontario Teachers’ Pension Plan is seeking a buyer for PhyMed Healthcare Group, the provider of anesthesia services it bought more than six years ago, according to people familiar with the matter.

Clearlake Capital-Backed Provation Acquires iProcedures

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Provation, the premier software and SaaS provider of procedure documentation and clinical decision support solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced its acquisition of iProcedures, LLC, a top-rated provider of cloud-based anesthesia documentation and perioperative data management software solutions. By acquiring iProcedures, Provation is doubling down on its commitment to becoming the premier vendor for anesthesia providers, following its 2020 procurement of ePreop, a leading provider of anesthesia quality reporting and surgical care coordination solutions.

VSS Announces Growth Capital Investment in Ambulatory Management Solutions

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VSS Capital Partners (“VSS”), a private investment firm investing in the healthcare, business services, education and information industries, today announced that it has completed a growth capital investment in Ambulatory Management Solutions (“AMS” or “the Company”), a turnkey provider of outpatient anesthesia, surgical and administrative services that enable physicians to provide safe in-office and ambulatory surgery center-based procedures. Headquartered in Chicago, AMS provides custom office and surgery center management support services along with anesthesia care through its affiliated managed physician practice.

WELL Health Completes Acquisition of CRH Medical

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WELL Health Technologies Corp. (TSX: WELL) (“WELL”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, and CRH Medical Corporation (“CRH”) are pleased to announce the successful completion of their previously-announced business combination Thursday, pursuant to which WELL has acquired all of the issued and outstanding common shares of CRH (the “CRH Shares”) for US$4.00 per share in cash (the “Acquisition”), representing an equity consideration of approximately US$286.6 million and a transaction value of approximately US$372.9 million, inclusive of CRH’s credit facility.

CRH Medical Securityholders Approve Acquisition by WELL Health

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CRH Medical Corporation (TSX: CRH) (NYSE: CRHM) (“CRH” or the “Company”) announced Friday that its securityholders approved the acquisition of CRH by a subsidiary of WELL Health Technologies Corp. (“WELL Health”) at the special meeting of CRH securityholders Friday. CRH is a full-service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers. CRH has completed 33 anesthesia acquisitions, and now serves 72 ambulatory surgical centers in 15 states.