Resolute Anesthesia and Pain Solutions, LLC Makes Announcement
BOCA RATON, Fla. -- May 9, 2013
Resolute Anesthesia and Pain Solutions, LLC (“Resolute”), a provider of
anesthesia and pain management services, has been formed, participants in the
venture announced today. Resolute was formed by the physician-founders and
partners of Broad Anesthesia Associates and Mid-Florida Anesthesia Associates
in a recapitalization led by Goldman, Sachs & Co. (NYSE:GS). The company is
based in Boca Raton, Florida.
The recapitalization of Broad Anesthesia Associates and Mid-Florida Anesthesia
Associates was led by the Goldman Sachs Private Capital Investing Group. Both
anesthesia groups were advised by Cross Keys Capital in the transaction. The
newly-formed Resolute is a physician-led organization dedicated to delivering
the highest quality of care to its patients. Resolute currently serves over 25
locations in Florida, Missouri, and Illinois and expects to grow by partnering
with leading quality anesthesia groups nationally.
Regions Bank has provided a senior credit facility to fund the company’s
growth initiatives. The partnership between Resolute and Goldman Sachs is
unique in that it allows Resolute’s current and future physician-stakeholders
to participate significantly in the future growth of the company.
Andrew Barnett will serve as the company’s Chief Executive Officer. As the
former CEO of The Center for Wound Healing, Andrew Barnett has extensive
experience building healthcare services organizations of national scale.
Resolute is investing in state-of-the-art revenue cycle management, electronic
medical record, practice management, finance, insurance, contracting, and
other administrative functions. The company has access to incremental equity
and debt financing and expects to partner with other physician groups to
create a leading national provider of anesthesia and pain solutions that is
dedicated to excellence in clinical care.
As the growing cost of complying with federal and state regulatory
requirements increased the time and financial burden of managing their
practices, Resolute’s physicians sought a partner who could provide both the
capital and the management expertise to grow their company while allowing them
to focus on treating patients and providing the best quality of care.
“The practice of medicine requires increasing investments in information
technology, operations and compliance,” said Dr. Harvey Plosker, a founding
partner of Broad Anesthesia Associates. “Our view is that of all the strategic
alternatives we looked at, our partnership with Goldman Sachs provides us with
the broadest array of capabilities, including the management expertise and
capital that will allow us and our partners to focus on practicing medicine
and at the same time realize our long-term strategic goals.”
“We pride ourselves at being ‘ahead of the curve’ with respect to patient
management, compliance and the overall patient experience,” said Dr. Marc
Levine, a founding partner of Mid-Florida Anesthesia Associates. “We believe
this emphasis is a key differentiator for us and the reason we have been so
successful. We learned that Goldman Sachs shares this vision, and that our
partnership provides Resolute Anesthesia and Pain Solutions with the
foundation to deliver anesthesia and pain management services on a national
basis with like-minded doctors who believe the patient comes first.”
About Resolute Anesthesia and Pain Solutions, LLC
Headquartered in Boca Raton, FL, Resolute provides anesthesia and pain
management solutions to its patients. The company was recently formed by a
group of physician partners in a recapitalization led by Goldman, Sachs & Co.
Resolute provides state-of-the-art revenue cycle management, compliance, and
administrative support capabilities and seeks to partner with leading
anesthesia providers nationally. The company currently serves over 25
locations in Florida, Missouri, and Illinois.
About Goldman Sachs Private Capital Investing
Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform
dedicated to providing preferred equity and mezzanine capital to growth and
middle market companies based in North America. PCI invests $20 million - $150
million of equity per transaction in the form of common, preferred, and
structured equity. Contact: email@example.com
Andrew Barnett, CEO,
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