(New York, NY) September 9, 2014 – MTS Health Investors, LLC (“MTS”), a healthcare-focused private equity firm, announced that it has completed the sale of its portfolio company, Florida Gulf-to-Bay Anesthesiology Associates (“FGTBA”), to TeamHealth Holdings Inc. (NYSE:TMH). Based in Tampa, FL., FGTBA’s more than 200 physicians and certified registered nurse anesthetists manage approximately 160,000 cases annually through anesthesia management services for eight hospitals and 11 ambulatory surgery centers (ASCs). TeamHealth is one of the nation’s largest providers of outsourced physician staffing solutions for hospitals
MTS completed its majority investment in FGTBA in April of 2012. Through that transaction, MTS created a partnership with the company’s physician owners with a goal of providing strategic resources to promote growth and enhance operational capabilities.
“The sale of FGTBA to TeamHealth creates an exceptional outcome for both companies’ clients, clinicians and patients while also delivering a terrific outcome for our investors.” said Oliver Moses, Senior Managing Director of MTS. “We are proud to have been able to execute on our strategy in partnership with FGTBA’s physician leadership and deliver the business to a new partner who will continue to support the excellent clinical care that FGTBA provides.”
“MTS has been an outstanding partner for FGTBA, and we are grateful for their commitment to improving and growing our business.” said Devanand Mangar, MD, president of FGTBA. “By now partnering with TeamHealth, we will have access to even greater resources backed by a robust infrastructure to serve our patients, hospital and ASC partners and affiliated clinicians as they work to meet the healthcare needs of the patients and families we serve.”
Raymond James Healthcare Investment Banking Group served as sole financial advisor, and Kirkland & Ellis LLP served as legal advisor, to FGTBA on the transaction.
MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes investments in operating companies within the healthcare industry. MTS targets companies that provide cost-effective solutions in the services and low-technology manufacturing sectors of the healthcare industry. Industry sectors in which MTS invests include: providers of outsourced solutions to the healthcare industry; providers of direct medical services to patients in an institutional, ambulatory, or home setting; providers of managed care and other healthcare insurance services; distributors of medical products; and manufacturers of medical devices and supplies. For further information, please visit www.mtshealthinvestors.com.