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JW Childs Associates acquires Ascent Medical Group

JW Childs Associates, an operationally-focused private equity firm, has acquired Ascent Medical Group, through a newly formed platform company, Siromed. Ascent Medical Group, LLC, a physician group practice based in Florida, is the first entity acquired by Siromed.

Ascent, founded in 2011 by Dr Steven Milstein, provides anesthesia care in Boynton Beach, Florida across a wide spectrum of subspecialty areas including general surgery, orthopaedic, obstetric and endovascular. Since 2011, the Company has been the sole provider of anaesthesia services to Bethesda Hospital East and West. Ascent employs 14 physicians and 20 CRNAs.
 
Siromed will target investments in a broad array of physician services practices throughout North America, especially those seeking capital to support the development of their practices while maintaining clinical autonomy.
 
Dr Lewis Gold and Dr Mitchell Eisenberg, former President and CEO of Sheridan Healthcare, respectively, will serve on the Board of Directors of Siromed, alongside several executives from JW Childs. Dr. Gold commented, “Mitchell and I each have 29 years of experience in operating a physician services platform and we are excited to partner again with JW Childs as we look to build Siromed into an industry leader.” Sheridan Healthcare is a former portfolio company of JW Childs.
 
“As the founder of a regional anaesthesia company, partnering with JW Childs in the formation of Siromed is a great opportunity to develop my business and accomplish my goals. I am excited to be a part of a growing platform, which will position us for long-term success” said Steven Milstein, MD, who will serve as the Senior Vice President of Business Development of Siromed.
 
DLA Piper LLP provided legal counsel to JW Childs. McDermott Will & Emery LLP provided legal counsel to Ascent.
 

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