Edgemont Partners Completes Sale of Northeast Tennessee Emergency Physicians to American Physician Partners
Acquisition highlights ongoing consolidation in hospital outsourced clinical services;Transaction is Edgemont’s sixth in emergency medicine and thirteenth on behalf of hospital-based physician groups
NEW YORK and TENNESSEE, March 14, 2018– Edgemont Partners, L.P. has acted as exclusive financial advisor to Northeast Tennessee Emergency Physicians (“NETEP”) in the sale of the company to American Physician Partners. The transaction closed on March 9, 2018 and was led by Jeff Swearingen, Managing Director, Co-founder of Edgemont, and Head of the Firm’s Physician Services Group, supported by Patrick Bradley, Vice President, and Taylor Grant, Associate. Edgemont is the preeminent healthcare-focused middle market investment bank, serving the advisory needs of healthcare providers and entrepreneurs for more than 15 years. Edgemont has served as exclusive advisor to emergency medicine practices and management companies representing over five million annual emergency room visits.
NETEP’s sale continues the trend of hospital outsourced physician services consolidation and marks the 92nd transaction in emergency medicine since 2008. NETEP’s 59 emergency physicians and 32 advanced practice providers staff seven of the busiest emergency departments in the Tri-Cities area of Northeast Tennessee and Southwest Virginia, providing care to over 192,000 patients a year.
“We couldn’t have asked for a better advisor than Edgemont Partners,” said Dr. Mark Woodard, President of NETEP. “Edgemont’s deep understanding of the sector illustrates why they are a leading healthcare M&A advisor to emergency medicine practices. Edgemont’s deal team expertly guided us through a competitive process that helped us find a partner that was just the right fit for our group.”
“Our broad and deep transaction experience positions us to understand the needs of both sellers and buyers in this unique marketplace,” said Swearingen. “As a result, we continue to lead the industry in supporting large and mid-sized physician groups in the sales process.”
About Edgemont Partners, L.P.
Edgemont Partners, L.P. (www.edgemontcapital.com) is an independent healthcare investment banking firm founded in 2001 to provide the highest quality strategic advisory and capital raising services. The firm’s deep healthcare industry knowledge, extensive relationship network and substantial M&A transaction expertise allow Edgemont to address healthcare companies’ strategic and financing needs with great success. The firm’s principals have closed over 125 healthcare transactions, representing more than $35 billion in value.
For more information on Edgemont Partners, L.P.’s efforts in Physician Services contact Jeff Swearingen at +1 (212) 867-8938.
Investment banking services are provided by Edgemont Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.