Brown Gibbons Lang & Co. announced the merger of Synergy Surgicalists, one of the nation's top providers of surgicalist staffing to acute care settings, with EA Health Solutions, a provider of specialty physician on-call compensation solutions and physician staffing services.
BGL's Healthcare & Life Sciences team served as the exclusive financial adviser to Synergy. The transaction is intended to further 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 plans to offer clinical staffing and performance management services for emergency medicine, emergency department surgical services, and specialty physician on-call services. The leadership team includes executives from both organizations and will be led by CEO 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," Sanger said in a statement. "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 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 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.