in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla. (September 18, 2018) – Farlie Turner & Co., LLC (“Farlie Turner”), a leading investment bank serving middle market companies, announced today that it represented Professional Emergency Medicine Management (“PEMM”) and Professional Emergency Physicians Associates (“PEPA”) in a recapitalization with Varsity Healthcare Partners, a lower middle-market private equity firm based in Los Angeles, California. The combined company will be known commercially as Emergency Care Partners. Farlie Turner served as the exclusive financial advisor to PEMM and PEPA, and terms of the transaction were not disclosed.
The combined business of PEMM and PEPA is one of the premier providers of outsourced clinical staffing and administrative services for hospital-based and freestanding emergency departments across the state of Louisiana. Founded in 2013 and based in Lafayette, Louisiana, the combined operations comprise 160 emergency medicine physicians and 150 advanced practice providers that serve their 11 customer hospitals and care for over 350,000 patients annually. Dr. Shammi Kataria and Kirk Richard, PEMM and PEPA’s Co-Founders, will retain executive leadership roles and will remain significant shareholders in the business.
“We appreciate the transaction leadership and guidance that the team from Farlie Turner provided.” stated Dr. Kataria. “They were truly our partner on this transaction from beginning to end.”
“Farlie Turner appreciates the opportunity to work with the owners and management team of the combined PEMM and PEPA.” commented Chris Calton. “The partnership with Varsity Healthcare Partners will enhance their ability to compete more effectively, achieve sustained growth and deliver even more value to their hospital customers.”
The transaction team was led by Managing Directors Chris Calton and Erik Rudolph, with Kyle Jones and Chris Henry also playing key roles on the deal. The transaction represents another successful outcome for the Farlie Turner healthcare industry advisory team.
About Farlie Turner
Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with FINRA, provide merger and acquisition, private placement and financial advisory services to middle market companies. Please visit www.farlieturner.com for more information.