Excellere Partners, a Denver-based private equity firm focused on partnering with middle-market entrepreneurs and management teams, has completed its investment in PhyMed Management, the management services company to Anesthesia Medical Group (AMG).
This represents the second platform investment in Excellere Capital Fund II.
Nashville, Tennessee-based AMG is one of the largest providers of anaesthesia services in the US, with more than 60 physicians and 200 certified registered nurse anaesthetists (CRNA), serving medical facilities within Tennessee.
Excellere continues to pursue investments within five targeted industries: healthcare; specialty foods; industrial technology and services; business services; and education and training.
AMG’s physician leaders, senior management and the Excellere team intend to implement a three-pronged, buy-and-build strategy for growing the business. This includes making foundational investments that further solidify AMG’s infrastructure, enabling it to capitalise on growth opportunities; implementing identified organic growth initiatives in existing and new markets; and pursuing complementary strategic acquisitions.
“We identified the anaesthesiology industry several years ago as a great segment of healthcare in which to execute Excellere’s buy-and-build strategy. We have spent the past four years pursuing an anesthesia platform that had a strong patient-centric clinical model and a passionate leadership team. We believe that we have found in AMG’s leadership team the right partner for Excellere,” says Rob Martin, an Excellere co-founder and managing partner.
David Whitten, AMG chief executive officer, adds: “At AMG, we saw an opportunity to parlay the success of our proven model – focused on the provision of quality anaesthesia care, service and patient safety – by expanding the breadth and depth of our services. The Board and senior management decided the time was right to find a partner that shared our vision for growth and passion for delivering unparalleled quality care to a broader market. We believe we found all that and more in Excellere as evidenced by their commitment to help the company achieve its goals and take it to the next level.”