NAPA Nabs Nearby NJAG

North American Partners in Anesthesia known as NAPA and headquartered in the New York metro area didn’t go far to expand its influence. The New Jersey Anesthesia Group (NJAG) recently joined NAPA, the largest anesthesia management company in the U.S.

The New Jersey Anesthesia Group anesthesia practice adds 73 clinicians to NAPA’s operations and 1000 clinicians.  The northern New Jersey-based organization currently provides services to 4 hospitals as well as 12 regional outpatient facilities.  Additionally, NJAG’s pain management division (Total Pain Care) serves northern New Jersey counties, Passaic and Bergen. 

NAPA’s expansion efforts have been aided by the 2011 recapitalization by Moelis Capital Partners.  The NJAG acquisition follows NAPA’s acquisition of two Pennsylvania anesthesia practices last December (2012).

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Clinic Efficiency Tips...Worth Repeating

In the words of Dictionary.com:  
ef·fi·cien·cy [ih-fish-uhn-see]:  accomplishment of or ability to accomplish a job with a minimum expenditure of time and effort.

Efficiency...We’re always trying to improve upon it whether at home or work.  The weekly PPS multibriefs newsletter recently offered key efficiency tips for rehab therapy owners - which can clearly be leveraged by other healthcare-related clinics. 

Quick Tips:

1. Establish a process and share with staff & patients
2. Keep traffic flowing.
3. Avoid handoffs:  one focused staffer best.
4. Huddle up.. review daily schedules with staff
5. Create a culture of timeliness.  Respect time of others.
6. Find your groove...what’s your best work style?
7. Get techy.  Today’s devices are time savers.

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Start New Managers on Road to Success

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It happens in many businesses... management identifies a good employee and promotes them into a leadership role (e.g.:  manager, supervisor, etc.).  While “promoting from within” is a noble practice, there’s more required of management than changing a title and adjusting salary.  

Paul Spiegelman, CEO of BerylHealth suggests that preparation is key to turning a good worker into a great manager. Consider Spiegelman’s “Must-do” list to set your newly promoted leader on the path to success:

• Give them a mentor for a period of time.
• Invest in either internal or external training.
• Guide them in how to be an example to others.
• Teach the difference between management and leadership.
• Check in often to help them with new issues they'll deal with.
• Make sure they enjoy the new role.

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Source:  Inc. Magazine

Goldman Investment Forms Resolute Anesthesia

Resolute Anesthesia and Pain Solutions, LLC, was recently formed by a Goldman Sachs Private Capital Investing Group investment in two Florida practices -  Broad Anesthesia Associates and Mid-Florida Anesthesia Associates.  The new physician-led organization is based in Boca Raton, FL, and provides anesthesia and pain management services. 

Currently, Resolute serves 25+ locations in Florida, Missouri, and Illinois.  With Goldman Sachs backing, the company has access to additional capital and management expertise - key to its expansion goal of becoming a national provider of anesthesia and pain solutions. Andrew Barnett, with  experience as former CEO of The Center for Wound Healing, will lead the organization's growth.  >>Read more

Interest in Animal Healthcare Continues

New Owner for Best Friends

Webster Capital, a private equity partnership whose investments include healthcare services will give Best Friends Pet Care a new home.  Brynwood Partners, the seller, will maintain a minority stake in the business.

Best Friends operates 42 centers nationwide (including Walt Disney World Resort) offering pet boarding, grooming, training and veterinary services.  Webster will partner with vet industry expert, Shane Kelly, to extend company’s animal healthcare services – adding six veterinary hospitals adjacent to current Best Friends locations.  >>Read more

Ensuring Healthy and Happy Friends

Other 2013 sector acquisitions:  Perrigo, entered the animal health market with its October, 2012 acquisition of Sergeant's Pet Care Products Inc., maker of flea and tick medicines.  Complementing Sergeant’s is the 2013 planned acquisition of Velcera Inc., another maker of flea and tick medicines sold over the counter.  >>Read more

Acquisition of Teva Pharmaceutical Industries (Shawnee, KS) in early 2013 strengthened German-based BayerDVM HealthCare’s leadership in the companion animal and food animal health industry. Dermatology products and nutraceuticals encompassing joint and gastro-intestinal products for companion animals is part of the acquired product portfolio.   >>Read more 

Heska, a provider of veterinary diagnostic and specialty products acquired roughly 55% of Cuattro Veterinary USA, LLC.  According to Robert Grieve, Heska CEO,

“Digital imaging and the long-term archival of imaging studies in cloud-based data centers is one of the fastest growing segments in veterinary medicine.” 

Cuattro Vet fills this niche with best-in-breed digital radiography, cloud-based PACS, ultrasound and imaging services suite in veterinary medicine.  With Heska’s established and extensive sales network, exposure and placement of the Cuattro Vet systems is greatly enhanced as is revenue and growth potential for Heska. >>Read more

A Different Flavor for EHR...DocuTAP

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The latest buzz surounding electronic health record provider, DocuTAP, is the additional venture capital financing for the Sioux Falls company founded in 2000.  The $11.9M injection is earmarked for increased marketing.

What caught my eye is their departure from the “vanilla” EHR varieties.  DocuTAP’s is focusing on one of the fast growing healthcare “flavors du jour” - Urgent Care.  The company appears to know its niche – experiencing significant growth over the last 12 months and consequently, tripling their workforce to support their services. 
"How Sweet!"... for their financial partners, Bluff Point Associates and Bessemer Venture Partners.  Read more