Mednax has 0 anesthesia practices correct? Weren't they all just sold to NAPA?
I have never said a single good word about private equity helping acquire anesthesia practices. I'm just making the differentiation between PE and a public corporation.
I didn't think the deal had closed yet but you are correct, apparently it did in May.
"North American Partners in Anesthesia is acquiring the division and will swell to more than 6,000 clinicians following the transaction’s close.
American Anesthesiology has been plagued by several recent business challenges, despite tallying $1.2 billion in revenue last year, Mednax noted in a Wednesday filing with the Securities and Exchange Commission. Those include labor cost inflation
, adverse changes to its payer mix that have constrained revenue growth, and a “difficult reimbursement environment,” where revenues have failed to keep up with rising costs."
There was no differentiation that needed to be made. I'm pretty sure everyone here knows that when I wrote "NYSE: MD" that that signifies it's a publicly traded company. I think most everyone here also knows that TeamHealth, Envision, AmSurg etc were all once publicly traded. Additionally, I thought it was obvious that physicians were/are worse for wear because of the influence of private equity on both publicly traded and private management companies (they both love getting capital from these vultures), but apparently not...
Take a look at Starboard's mission
"Starboard seeks to invest in deeply undervalued companies and actively engage with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders."
Does this sound like a PE firm that wanted Mednax to pay their physicians more or less before MD unloaded to NAPA?
E: is some of the confusion coming from the fact that the strict definition of PE is that they invest only in private firms? Because the vast majority of the big boys today (KKR, Carlyle, Blackstone, Apollo) plus many of th medium PE/activist investors such as greenlight, bain, starboard, Icahn etc have both public and private corps in their portfolio, so I dont see the particular distinction of private equity as very useful when talking about how these corporate raiders affect anesthesia/ amcs