Houlihan Lokey Advises Anesthesia Associates of Ann Arbor

Houlihan Lokey is pleased to announce that Anesthesia Associates of Ann Arbor, PLLC, and Midwest Anesthesia Consultants, PC (collectively, A4) have completed a recapitalization transaction and growth capital partnership with J.W. Childs Associates, L.P. (J.W. Childs) and Siromed Equity Holdings, LLC (Siromed). The transaction closed on March 26, 2018.

Founded in 1968 and headquartered in Ann Arbor, Michigan, A4 is the largest provider of anesthesia and pain management services in the state of Michigan. A4 attributes its ongoing growth and success to a keen focus on delivering top-quality, cutting-edge healthcare to patients while providing a high degree of engagement and customer service to its health system partners. With more than 110 physician anesthesiologists, A4 currently provides services to 11 hospitals, six ambulatory surgery centers (ASCs), and four chronic pain management clinics.

J.W. Childs is a Boston-based private equity firm focused on investing in middle-market growth companies. Since its inception in 1995, J.W. Childs has invested $3.6 billion in equity capital in more than 49 companies across the healthcare, consumer, and specialty retail/e-commerce industries. The firm’s success has been built on its industry focus and the extensive operating expertise of its partners.

Siromed is currently a provider of anesthesiology physician services to hospitals, ASCs, and other healthcare facilities in South Florida. Siromed was founded in 2017 to pursue partnerships with a broad array of physician services practices throughout North America, especially those seeking capital to support the development of their practices while maintaining clinical autonomy.

This transaction further strengthens Houlihan Lokey’s leadership position in the physician practice management and multisite healthcare sectors, where Houlihan Lokey has advised on approximately $8 billion in transaction enterprise value over the last three years. Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2017, the group closed 21 transactions and was ranked the No. 1 advisor for U.S. healthcare M&A transactions under $1 billion by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 M&A healthcare transactions since inception.