BGL Announces Merger of Synergy Surgicalists and EA Health Solutions, With a Simultaneous Recapitalization by Enhanced Healthcare Partners
CLEVELAND, June 4, 2020 /PRNewswire/ -- Brown Gibbons Lang & Company ("BGL") is pleased to announce the merger of Synergy Surgicalists ("Synergy"), one of the nation's top providers of surgicalist staffing to acute care settings, with EA Health Solutions ("EA Health"), the nation's leading provider of specialty physician on-call compensation solutions and physician staffing services. BGL's Healthcare & Life Sciences team served as the exclusive financial advisor to Synergy. The transaction furthers BGL's ongoing commitment to, and experience in, clinical outsourced services. The specific terms of the transaction were not disclosed.
Enhanced Healthcare Partners, a leading New York-based private equity firm specializing in middle-market healthcare businesses, facilitated the business merger through a joint recapitalization to form a new company, EA-Synergy. EA-Synergy will offer clinical staffing and performance management services for emergency medicine, emergency department surgical services, and specialty physician on-call services. Its leadership team includes executives from both organizations and will be led by Chief Executive Officer Sriram Iyer, former CEO of EA Health. Industry veteran Bill Sanger, former chairman and CEO of Envision Healthcare, will become chairman of EA-Synergy.
"There exists a tremendous opportunity for innovation in managing the complexities of today's emergency departments," said Sanger. "Our company will leverage significant leadership experience, analytics, and a 'physician-first' culture to drive results for our hospital clients."
Synergy Surgicalists was founded in 2012 in Bozeman, Montana, and provides outsourced surgical staff (or "surgicalists") to approximately 50 hospitals across the U.S. in response to hospital systems who struggle to find doctors willing to do full-time on-call emergency room work, particularly in rural areas.
EA Health was founded in 1992 in San Diego, California, and offers data analytics, revenue-cycle management services and physician staffing services to help hospitals and doctors manage emergency medical programs. In addition to providing outsourced emergency and surgical staffing, EA Health gathers data across a range of issues to help hospitals better coordinate their staffing and manage physician compensation costs.
Driven by the belief that an integrated emergency medicine model offers greater efficiency and efficacy, EA-Synergy will leverage EA Health's technology, including its robust analytical tools, to offer physicians and hospitals valuable insight that will encourage modernization of emergency medicine. EA-Synergy will offer coordinated medical care to patients originating in the emergency department and delivered by front-line emergency physicians and call panel physicians--including surgicalists and specialty physicians--both in-person and via telemedicine.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, divestitures, capital markets, financial restructurings, valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, Denver, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
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