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Resolute Anesthesia and Pain Solutions, LLC

Closing Date: 05/30/2013

Merger Recapitalization by Goldman Sachs Private Capital Investing | Industry: Healthcare | Sub-Industry: Anesthesiology

Deal Overview

South Florida-based Resolute Anesthesia and Pain Solutions, LLC (“Resolute”) was formed by merger of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc. The recapitalization was sponsored by the Private Capital Investing Group of Goldman Sachs & Co. (NYSE:GS). Cross Keys Capital acted as the exclusive financial advisor to the partners of Broad Anesthesia Associates, LLC and Mid-Florida Anesthesia Associates, Inc.

“The practice of medicine requires increasing investments in information technology, operations and compliance,” said Dr. Harvey Plosker, a founding partner of Broad Anesthesia Associates, LLC. “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.”

Headquartered in Boca Raton, Florida, 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.

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.

  • 2013