Tampa, FL, July 9, 2012 — FGTB Holdings, LLC announced today it has appointed Leonard L. Castiglione as Chief Executive Officer. FGTB Holdings was formed in April of this year when funds managed by MTS Health Investors, LLC (“MTS”), the New-York based healthcare private equity firm, recapitalized Florida Gulf-to-Bay Anesthesiology Associates, LLC (“FGTB”), a subsidiary of FGTB Holdings.
FGTB, based in Tampa, FL, provides a comprehensive range of anesthesia and pain management services to hospitals and surgery centers in Florida and Indiana. The company currently provides services to six hospitals in the Tampa Bay area as well as to seven ambulatory surgery centers.
Dr. Devanand Mangar, MD, Founder, President and CEO of FGTB, said, “The addition of Lenny as CEO of our parent company will strengthen our management capabilities and allow us to aggressively pursue our growth objectives in both existing and new markets. His extensive experience as a senior healthcare executive will complement the premier clinical team we have assembled at FGTB, and I look forward to working with him to implement our corporate strategy.”
Oliver T. Moses, Senior Managing Director at MTS, said, “We are confident that Lenny’s skill set will enable the company to expand its footprint while maintaining its focus on providing best-in-class service to its hospital and surgery center partners. We feel fortunate to be partnering with a proven executive of his caliber.”
Mr. Castiglione recently served as Senior Vice President of Operations for McKesson Specialty Health and The US Oncology Network. He enjoyed a 17 year career with the US Oncology Network in leading roles for managed care, transplant services, clinical research, and practice operations. He has worked closely with physicians, health plans, hospitals, and pharmaceutical companies to enhance the outpatient operations of oncology practices and establish a new delivery model for cancer patients. Prior to joining US Oncology, Mr. Castiglione served as Health Plan Manager of United Healthcare of Texas, where he was responsible for hospital, physician, and ancillary contracting. Mr. Castiglione received his Masters in Healthcare Administration from Tulane University and his undergraduate degree in Business from Louisiana State University. He completed a post graduate fellowship in healthcare administration at The Methodist Healthcare System in Houston and has served in the U.S. Army Reserve Forces for seven years.
Mr. Castiglione said, “I am delighted to join Dr. Mangar and the other physicians at FGTB. The company’s sterling reputation and the fast-moving dynamics of this industry make FGTB an exciting place to be and I look forward to the challenge of executing on the company’s growth plan.”
About Florida Gulf-to-Bay Anesthesiology Associates
FGTB is a multi-state practice group which performs a broad range of clinical and administrative services for hospitals and ambulatory surgery centers. Established in 1996 by its President and Chief Executive Officer, Dr. Devanand Mangar, FGTB was started by consolidating the private practices of several cardiac anesthesiologists. The Company currently provides services to six hospitals in the Tampa Bay area and seven ambulatory surgery centers (six located in Florida and one in Indiana). In addition to the administration of anesthesia, primary services provided by FGTB include: recruiting, scheduling and credential coordination, billing and collecting, insurance coverage, continuing medical education services, research, and management training. For further information, please visit (www.fgtba.com)
MTS Health Investors, LLC, located in New York, is a private equity firm that makes investments in middle-market companies within the healthcare industry. Healthcare is the largest industry in the U.S. and is growing at over 6% annually. Within this dynamic industry sector, MTS focuses on investments in profitable companies that deliver cost-effective services and products. During the last decade, MTS has invested over $400 million in 17 companies.