Enhanced Healthcare Partners Announces Investment in and Simultaneous Business Merger of Synergy Surgicalists and EA Health
NEW YORK, NY (June 2, 2020) — Enhanced Healthcare Partners (“EHP”), a leading New York-based private equity firm specializing in middle-market healthcare businesses, is pleased to announce its joint investment in the business merger of Synergy Surgicalists—one of the nation's top providers of surgicalist staffing in the acute care setting—and EA Health—the nation’s leading provider of specialty physician on-call compensation solutions and physician staffing services (together, “EA-Synergy” or the “Company”).
The Company will offer integrated, high performance clinical staffing and management services for emergency medicine, orthopedic and general surgery staffing and specialty on-call services. The merger of the businesses will provide enhanced value to all stakeholders—patients, hospitals and clinicians—with a suite of solutions to drive patient care, physician satisfaction and hospital efficiencies.
Industry veteran Bill Sanger, chairman of EA Health and former chairman and chief executive officer of Envision Healthcare, has led numerous physician-focused platforms in a distinguished career.
“There exists a tremendous opportunity for innovation in managing the complexities of today's emergency departments," said Sanger. “Our Company will leverage significant leadership experience, analytics and a 'physician-first' culture to drive results for our hospital clients."
The Company's strategy is driven by the thesis that an integrated emergency medicine model offers greater efficiency and efficacy. EA-Synergy will extend hospital-based emergency medicine to include general surgery and orthopedics. The hospital-based physician team will be further complemented by a robust community-based, specialty on-call panel that is aligned with hospital goals. Robust analytics, provided by EA Health's technology, offer physicians and hospitals valuable insight to drive quality and performance measures.
“We are excited to partner with an exceptional leadership team to drive EA-Synergy as a solution that brings positive change in emergency and acute care medicine," EHP General Partner Samarth Chandra commented. “The current pandemic has only reinforced the essential role our hospitals play in the care delivery system. This Company will be an advocate for physicians and hospitals in evolving emergency and acute medical services."
The leadership team combines distinguished executives from both organizations and is led by Chief Executive Officer Sriram Iyer.
“We endeavor to be a true partner to physicians and hospitals," said Iyer. “Our ability to drive better patient outcomes and greater efficiency will elevate and transform many hospital-based care delivery systems.”
Founded in 2012, Synergy is a market leader in the nascent surgicalist staffing market. The surgicalist role is a relatively new one in American healthcare; surgicalists are orthopedic and general surgeons who work in an acute care setting and complete the on-call shift work required to staff a hospital with around-the-clock care. Traditionally, hospitals have relied on surgeons living within the community who also work in private, office-based practices to fill on-call emergency department rotations. This juggling act can lead to challenges for both physicians and hospitals. The innovative surgicalist model has been designed to address these challenges, as well as to provide substantial professional benefits to surgicalist physicians.
“Synergy was founded to provide top quality surgeons new career opportunities while addressing hospital staffing challenges,” said Dr. John Campbell, Chief Executive Officer of Synergy Surgicalists. “The surgicalist approach has shown clear benefits, and we believe the growth opportunity to be significant.”
Founded in 1992 by Dr. Art Gruen, EA Health provides the infrastructure backbone for the combined Company's vision. For nearly three decades, EA Health has applied its robust data warehouse, advanced analytics and revenue cycle management solutions to support physicians and hospitals in operating their emergency medicine programs with greater transparency and efficiency.
Said Dr. Gruen, "This new platform will leverage an extraordinary leadership team with the experience and insight to take advantage of a strong market opportunity.”
EHP's legal representation was provided by Goodwin Procter LLP. Synergy was advised by Brown Gibbons Lang & Company. Terms of the transaction were not disclosed.
ABOUT ENHANCED HEALTHCARE PARTNERS
Enhanced Healthcare Partners is a leading healthcare-focused private equity firm dedicated to making minority and majority investments in founder and entrepreneur-led lower middle-market companies. The EHP team has managed approximately $1 billion in equity capital and is comprised of professionals with deep healthcare, operations, consulting and investment management experience. The firm seeks to invest in companies between $50-$250 million in enterprise value, driving deep partnerships with management and founders to catalyze growth and build great organizations. For more information on EHP visit: www.enhancedhealthcare.com.
ABOUT EA HEALTH SOLUTIONS
EA Health was founded in San Diego in 1992 to address the challenges faced by hospital emergency departments in maintaining participation in specialty call panels. After two decades of providing innovative call compensation solutions nationwide, EA Health expanded to offer revenue cycle management services to emergency medicine providers, multi-specialty medical groups, private practice physicians and telemedicine providers. EA Health offerings now include a comprehensive array of provider compensation and reimbursement solutions complemented by EA Health's advanced health information technology. Visit eahealthsolutions.com for more information.
ABOUT SYNERGY SURGICALISTS
Founded in 2012, Synergy Surgicalists is a national company created by surgeons, and for surgeons, facilities, and patients. Synergy's teams of orthopedic, trauma and general surgeons provide the highest quality elective, acute care and trauma care to communities across the country. Visit synergysurgicalists.com for more information.
FOR PRESS INQUIRIES
Joanne Verkuilen
MiddleM Creative, on behalf of Enhanced Healthcare Partners
joanne@middlemcreative.com
T 980.785.4356