March 23, 2011
GREENWICH, CT and HOUSTON, TX – Great Point Partners, LLC, a Greenwich-based private investment firm focused on the health care industry, today announced the completion of its take private of American Surgical Holdings, LLC (“American Surgical” or the “Company” or “OTCBB:ASRG”) a leading provider of in operating room surgical assistants.
The Company markets its services to hospitals, surgeons and healthcare institutions and currently provides its service in Oklahoma, Virginia, Texas, Tennessee and Georgia. American Surgical currently employs over 100 surgical assistants.
Zak Elgamal, CEO of American Surgical commented, “Great Point Partners impressed us with their understanding and knowledge of the surgical assistant market and our customer base. I am confident that through our partnership with GPP we will continue to provide market leading quality service to our customers”.
“American Surgical has consistently done a great job of providing high quality services to the hospitals, surgeons and patients. We hope to continue providing its customers with the highest quality service and continue growing the business in the long term,” said Adam B. Dolder of Great Point Partners. Dr. Jeffrey Jay added, “Surgical Assistants are highly skilled, fully trained professionals credentialed through an extensive process similar to that utilized to evaluate physicians. They are an integral part of the surgical team and provide a high quality and cost effective solution to the health care system”.
About American Surgical Holdings, LLC
Founded in 1999 and headquartered in Houston, TX, American Surgical provides professional surgical assistant services to patients, surgeons and healthcare 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 healthcare institutions while maintaining the quality of service.
About Great Point Partners, LLC
Great Point Partners, LLC is a leading health care investment firm with approximately $400 million of equity capital under management. Great Point has provided growth equity, recapitalization and management buyout financing to more than 100 health care companies. Currently, the Firm manages capital in both public equity and private equity funds. Both the private and public funds invest across all sectors of the health care industry including biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and workers compensation. You can find more about Great Point at www.gppfunds.com.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.