MELVILLE, N.Y., Dec. 18, 2012 (GLOBE NEWSWIRE) -- North American Partners in Anesthesia (NAPA), the largest single specialty anesthesia and perioperative management company in the United States, continues to expand its growing roster of anesthesia practices in Pennsylvania with the additions of Northeast Anesthesiology, Inc. in Scranton, PA and Anesthesiology Solution, LLC in Honesdale, PA. This marks NAPA's continued growth in northeast Pennsylvania, adding Moses Taylor Hospital, Regional Hospital of Scranton, Wayne Memorial Hospital, Regional Surgery Center of Scranton and Eynon Surgery Center to its existing presence at Wilkes-Barre General Hospital and Pocono Medical Center. Through the acquisition, NAPA will be welcoming an additional fifty clinicians into its operations.
"As a physician-owned and operated organization focused exclusively on anesthesia, NAPA understands the challenges we face in our day-to-day practice of medicine as well as the avenues to take in order to reach a solution for these challenges. It was important for us to partner with a premier national anesthesia provider that not only understands us but serves as an advocate in positioning us in the marketplace to succeed," says Michael Kline, MD, Chairman of Anesthesia at Moses Taylor Hospital and Wayne Memorial Hospital. "Our new partnership with NAPA will provide us with the foundation and essential tools to enhance our services to our patients."
"We are pleased to be integrating a high quality team of physicians and CRNAs into NAPA," said Timothy J. Dowd, CEO and Managing Partner, NAPA Management Services Corporation (NMSC). "Practices of this caliber allow us to add value to our organization and continue to carry out our mission to deliver the highest quality of anesthesia services to our patients, hospital and ASC partners."
In April 2011, Moelis Capital Partners, the private equity business of Moelis & Company, led a recapitalization of NAPA's practice management company, NAPA Management Services Corporation (NMSC) providing the company with the ability to pursue growth opportunities and maintain its leadership position in the expanding anesthesia management market.
Northeast Anesthesiology, Inc. and Anesthesiology Solution, LLC were advised by Cross Keys Capital in this transaction, which closed on December 14, 2012.
About North American Partners in Anesthesia
Founded in 1986, North American Partners in Anesthesia (NAPA) is the leading single specialty anesthesia and perioperative management company in the United States. NAPA is comprised of the most respected clinical staff, providing thousands of patients with superior and attentive care. The company is known for partnering with hospitals and other health care facilities across the nation to provide anesthesia services and perioperative leadership that maximize operating room performance, enhance revenue, and demonstrate consistent patient and surgeon satisfaction ratings. For more information, please visit http://www.NAPAanesthesia.com/anesthesia.
ABOUT MOELIS CAPITAL PARTNERS
Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages $800 million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit www.moeliscapital.com.
Jill Aaronson, Marketing Coordinator
North American Partners in Anesthesia
t: (516) 945-3030
Moelis & Company
t: (212) 883-3807 m: (917) 621-6651
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Source:North American Partnersin Anesthesia