August 26, 2013
GREENWICH, CT and HOUSTON, TX — Great Point Partners (“GPP”) today announced that GPP I portfolio company, American Surgical Assistants has acquired Dallas-based ProAssist Surgical Associates, a premier provider of surgical physician assistant (“PA”) services. ProAssist primarily focuses on providing highly qualified surgical and physician assistants for surgery and surgical assistant billing services.
Tom Kirk, Chief Executive Officer of American Surgical commented, “We are thrilled with the acquisition of ProAssist. The skill, expertise, quality and outcomes that they have historically generated match those that American Surgical has consistently provided. This combination is operationally and strategically compelling from multiple perspectives.”
The acquisition will allow American Surgical to extend its services to the expanding Dallas Fort Worth market and to incorporate a surgical physician assistant offering within its existing core business units. “We are excited about our new partnership,” says Mike Fuller, owner of ProAssist. “The sharing of ideas, technology and support will undoubtedly continue to allow ProAssist to lead the way for surgical first assistant services throughout the DFW metroplex and the region”.
This is the fifth acquisition for the company since the Great Point investment, and it further solidifies the American Surgical Assistants’ commitment to growth in its home state of Texas in addition to nine other states. The combined company now serves over 235 clients nationwide. Great Point played the lead role in sourcing and negotiating the acquisition and will continue to assist American Surgical in effectively integrating the acquisition.
About American Surgical Assistants
Founded in 1999 and headquartered in Houston, TX, American Surgical is the nation’s leading provider of professional surgical assistant services to patients, surgeons and health care institutions. The Company is a Joint Commission certified surgical assistant services company. Its services result in cost savings for patients, insurance carriers, hospitals, surgeons, and health care institutions while maintaining quality of service. Visit www.americansurgicalassistants.com or call 713-779-9800 for additional information.
About Great Point Partners
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $650 million of equity capital under management. The American Surgical investment was made from GPP I, a fully committed $156 million lower middle market health-care buy-out fund. GPP is currently investing from GPP II, which is targeted at $200 million, and focuses on growth recapitalizations health care companies with $1 to 10 million of EBITDA.
Great Point manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including behavioral health, biologics manufacturing, life sciences, health care services, hospital outsourcing, information technology, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203.971.3300 www.gppfunds.com.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.