FORT LAUDERDALE, Fla., July 12, 2016 (GLOBE NEWSWIRE) -- Cross Keys Capital, LLC, a leading independent investment banking firm providing M&A advisory services to healthcare companies, is pleased to announce that it has acted as the exclusive financial advisor to Lake County Anesthesia Associates in their sale to TeamHealth Holdings, a provider of outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers. The transaction was led by Cross Keys’ Managing Director Bill Britton and Vice President Marjorie Chang.
Mr. Britton, co-founder of Cross Keys and leader of the healthcare practice said, “More than ever before, uncertainty within the healthcare system is driving groups to explore their options and bring in a partner with value-added resources that most groups cannot provide on their own – all the while realizing the equity value they have built up within their practice.”
“Quality practices are highly sought by the larger groups, looking to expand or establish their presence in a new market or to strengthen already-existing positions,” added Mr. Britton. “Valuations remain high but will not stay this way forever, particularly for the markets that have experienced a lot of consolidation.”
Lake County Anesthesia Associates currently provides anesthesia services for Leesburg Regional Medical Center in Leesburg, Florida, and The Villages® Regional Hospital in The Villages, Florida, both of which are part of Central Florida Health. LCAA will join TeamHealth in providing medical solutions to over to approximately 3,500 acute and post-acute facilities and physician groups nationwide.
The sale of Lake County Anesthesia Associates represents Cross Keys’ fifty-first closed transaction on behalf of physician group practices, and the seventh physician group they have supported in a successful sale in 2016.
About Cross Keys Capital, LLC
Cross Keys Capital, LLC (www.crosskeyscapital.com) is an independent investment bank providing merger and acquisition advisory services to established businesses in the middle market, in areas including business services, niche manufacturing, and information technology. Its healthcare practice is a leader in representing anesthesiology practices and other private physician group practices including radiology, ED, pathology, hospitalists, vision and eye care, dermatology, as well as a variety of healthcare providers and service companies. The firm’s extensive experience and track record in advising physician practices are unrivaled by any other middle-market investment banking firm in the nation – Cross Keys has completed the sale or merger of over fifty transactions of independent physician group practices, healthcare providers, services, and technology companies.