Press Releases

Edgemont Capital Partners Completes Sale of Florida Emergency Physicians to TeamHealth

acquired by
October 2016

Leading independent healthcare investment banking firm serves as exclusive financial advisor to FEP, the largest independent Emergency Medicine physician group in Florida

NEW YORK and ORLANDO, October 3, 2016 — Edgemont Capital Partners, L.P., a leading independent healthcare investment banking firm providing merger and acquisition advisory services to healthcare companies, today announced that it acted as exclusive financial advisor to Florida Emergency Physicians Kang & Associates, M.D., Inc. (“FEP”) in the sale of the company to TeamHealth Holdings Inc. (NYSE: TMH).  The transaction closed on October 1, 2016 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group and Luke Mitchell, Managing Director.

Based in Orlando, Florida, FEP is the exclusive emergency medicine staffing provider for 11 facilities spanning five counties within the Florida Hospital health system. FEP comprises approximately 150 physicians and 100 advanced practice clinicians who provide care for 600,000 patients each year.  FEP is the largest independent Emergency Medicine physician group in the state of Florida and has served the Florida Hospital system for over 45 years.

“Right from the start, Jeff and the Edgemont team demonstrated a strong understanding of the Emergency Medicine business and a real commitment to providing great service and the right advice,” said Dr. Jorge Lopez, Chief Executive Officer of FEP.  “Edgemont’s market insight and strong execution resulted in a great transaction for FEP’s shareholders, with a partner that will provide the tools and resources to better serve the emergency medicine needs of Orlando.  We are grateful to the Edgemont team for its expert advice and guidance throughout the sale process.  Edgemont’s professionalism and dedication to this engagement, and the depth of its industry experience resulted in a competitive process that brought us an outstanding partner.”

Edgemont’s role as FEP’s exclusive advisor is the firm’s tenth closed transaction on behalf of hospital-based physician groups and management companies and fourth in Emergency Medicine.  Edgemont has now served as exclusive advisor to Emergency Medicine practices and management companies representing over 5 million annual emergency room visits.  Edgemont previously represented Premier Emergency Medical Specialists, PLLC in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG); Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc.; Practice Support Resources, LLC in its sale to Intermedix Corporation; Milford Anesthesia Associates in its sale to Envision Healthcare Holdings, Inc. (NYSE: EVHC); South Oakland Anesthesia Associates in its sale to MEDNAX, Inc. (NYSE: MD); Wolverine Anesthesia Consultants in its sale to TeamHealth Holdings Inc.; New Jersey Anesthesia Associates in its sale to MEDNAX, Inc.; Anesthesia Services Associates in its sale to PhyMed Management, LLC; and Associated Anesthesiologists of Reno, P.C. in its sale to MEDNAX, Inc.

“Independent, high quality physician practices of scale are seeking the highest level of quality and experience in the financial advisors they hire.  Edgemont is unsurpassed in its track record of achieving the best transaction outcomes for its independent physician practice clients,” added Mr. Swearingen.  “No other investment banking firm has represented more large and mid-sized independent hospital-based physician groups in sale transactions, and Edgemont is the only investment bank that has represented independent groups in sale transactions with all of the publicly-traded hospital-based specialty providers, including EmCare, MEDNAX, Sheridan and TeamHealth.”

Associate Reid Petersen and two Analysts completed the Edgemont transaction team.  Brent Hill and Amanda Jester of Waller Lansden Dortch & Davis, LLP served as legal counsel to FEP.

About Edgemont Capital Partners, L.P.

Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is an independent investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services to healthcare companies.  The firm’s deep healthcare industry knowledge, extensive relationship network and substantial transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success.  The firm’s principals have closed over 100 healthcare transactions, representing more than $30 billion in value.

For more information on Edgemont Capital Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.

Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.