Press Releases

Edgemont Capital Partners Completes Sale of Premier Emergency Medical Specialists to Sheridan

acquired by
December 2015

Healthcare investment banking firm serves as exclusive financial advisor to PEMS, one of the leading independent Emergency Medicine physician groups in Arizona

NEW YORK and PHOENIX, December 7, 2015 — Edgemont Capital Partners, L.P., a leading independent investment banking firm providing M&A advisory services to healthcare companies, today announced that it has acted as exclusive financial advisor to Premier Emergency Medical Specialists, PLLC (“PEMS”) in its sale to Sheridan, the Physician Services division of AmSurg Corp. (NASDAQ:AMSG).  The transaction closed on December 4, 2015 and was led by Edgemont managing directors Jeff Swearingen and Luke Mitchell.

Mr. Swearingen, co-founder of Edgemont, and head of the firm’s Physician Services Group, said, “We continue to see substantial interest in consolidation across multiple physician specialties, driven by the changing economics of the healthcare industry.  While 2015 has been a very active year for both buyers and sellers, the market dynamics suggest that this trend is likely to continue going into 2016 and beyond.”

Mr. Mitchell, partner at Edgemont, and leader of the firm’s office-based Physician Services initiatives, added, “The acquisition of PEMS by Sheridan is the kind of high quality transaction that creates substantial benefits for both parties.  We were delighted to have the opportunity to work with these two outstanding management teams in order to make this transaction a reality.”

PEMS was established in 2003 and provides emergency medicine staffing for two Dignity Health system facilities in the Phoenix metropolitan area: Chandler Regional Medical Center and Mercy Gilbert Medical Center.  PEMS’s more than 50 physicians and advanced practice clinicians care for over 120,000 patients annually, and PEMS is consistently ranked as one of the highest performing emergency medicine groups within the entire multi-state Dignity Health system.

Dr. Evan Leibner, President and Chief Executive Officer of PEMS commented, “The close of this transaction, and the beginning of our partnership with Sheridan, is a tremendous outcome for our shareholders, all of our clinicians, our partners at Dignity, and the patients and communities we serve.  The combination of PEMS’ exceptional emergency medicine clinical care and Sheridan’s operational, IT, and financial systems and best practices, will ensure that together we are able to continue to be leaders in improving emergency medicine, not just in Arizona, but the entire region.”

Dr. Leibner continued, “We are grateful to the Edgemont team for their expert advice and guidance throughout the sale process.  Their professionalism and dedication to this engagement, and the depth of their industry experience, resulted in a competitive process that brought us an outstanding partner.”

The sale of PEMS represents Edgemont’s eighth closed transaction on behalf of hospital-based physician groups and management companies, and third in emergency medicine.  Edgemont previously represented Premier Physician Services, Inc. (of Dayton, Ohio) in its sale to TeamHealth Holdings Inc. (NYSE: TMH), 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.; and Anesthesia Services Associates in its sale to PhyMed Management, LLC

Associate Vitaliy Marchenko and Analyst Yaffet Menna completed the Edgemont transaction team.  Terry Roman, partner at Snell & Wilmer, and Brad Martorana, counsel, served as legal counsel to PEMS.

About Edgemont Capital Partners, L.P.

Edgemont Capital Partners, L.P. (www.edgemontcapital.com) is a specialty M&A advisory firm dedicated to providing 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 allows Edgemont to address healthcare companies’ strategic and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placement services.

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.