April 24, 2008
Croft & Bender Advises Atlanta-based Alliance Surgery in its Acquisition by HealthMark Partners
ATLANTA, April 24 /PRNewswire/ -- Croft & Bender, an Atlanta-based
investment banking firm, served as the financial advisor to Atlanta-based Alliance Surgery, Inc. (ASI) in the recently announced acquisition of ASI by HealthMark Partners, Inc. (HMP) of Nashville, Tenn.
Both organizations develop, acquire and operate single- and
multi-specialty, free-standing ambulatory surgery centers (ASC), typically in joint ventures with physicians or with physicians and hospitals.
ASI's CEO, Charles T. Neal, a 30-year veteran of the healthcare
industry, said, "I am delighted with the combination of these very
complementary businesses and believe we can deliver even better service, quality and value to our patients, physicians and associates."
Neal, who will be the chief operating officer of the combined entities, said Croft & Bender played a critical role in getting the transaction completed.
"C&B's ability to help us identify and successfully negotiate through the issues that arose during the process was invaluable," Neal said.
William G. Southwick, HealthMark's President and CEO, said the
transaction brings together exceptional experience in ASC development and operations.
"Together we have the scale, resources and management to accelerate building a solid and successful company in this growing industry," Southwick said.
The combined companies currently manage 17 surgery centers and have six under development. The 23 ASCs are located in 10 states (Maryland, North Carolina, Tennessee, Georgia, Alabama, Mississippi, Indiana, Texas, Arizona and California).
About Croft & Bender
Croft & Bender LLC, based in Atlanta, Georgia, is an investment banking firm focused on providing M&A, private equity and financial advisory services to middle-market and emerging growth companies in the Southeast. The firm also sponsors the C&B Capital private equity funds, with $44 million under management. For more information on Croft & Bender, visit http://www.croft-bender.com or contact the firm at (404) 841-3131.
Founded in 1996, Nashville-based HealthMark Partners, Inc., develops, invests in and operates single and multi-specialty ambulatory surgery center joint ventures with physicians and, in several instances, physicians and hospitals. The company specializes in ASC turnaround and de novo projects and works with physicians and hospitals to maximize patient and physician satisfaction while establishing a true community asset. For more
information visit http://www.healthmarkpartners.com.
About Alliance Surgery, Inc.
Founded in 2003, Atlanta-based Alliance Surgery, Inc. owns and operates ambulatory surgery centers in partnership with physicians and hospitals. The Alliance management team has developed, managed, financed and consulted with more than 100 ASCs and 80 hospitals over the past 25 years. For more information visit http://www.alliancesurgery.com.
SOURCE Croft & Bender