BOSTON--(BUSINESS WIRE)--J.W. Childs Associates, L.P., an operationally focused private equity firm announced the recent acquisition of Ascent Medical Group, LLC, through a newly formed platform company, Siromed. Ascent Medical Group, LLC, a physician group practice based in Florida, is the first entity acquired by Siromed.
Ascent, founded in 2011 by Dr. Steven Milstein, provides anesthesia care in Boynton Beach, Florida across a wide spectrum of subspecialty areas including general surgery, orthopedic, obstetric and endovascular. Since 2011, the Company has been the sole provider of anesthesia services to Bethesda Hospital East and West. Ascent employs 14 physicians and 20 CRNAs.
Siromed will target investments in 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.
Dr. Lewis Gold and Dr. Mitchell Eisenberg, former President and CEO of Sheridan Healthcare, respectively, will serve on the Board of Directors of Siromed, alongside several executives from J.W. Childs. Dr. Gold commented, “Mitchell and I each have 29 years of experience in operating a physician services platform and we are excited to partner again with J.W. Childs as we look to build Siromed into an industry leader.” Sheridan Healthcare is a former portfolio company of J.W. Childs.
“As the founder of a regional anesthesia company, partnering with J.W. Childs in the formation of Siromed is a great opportunity to develop my business and accomplish my goals. I am excited to be a part of a growing platform, which will position us for long-term success” said Steven Milstein, M.D., who will serve as the Senior Vice President of Business Development of Siromed.
DLA Piper LLP provided legal counsel to J.W. Childs. McDermott Will & Emery LLP provided legal counsel to Ascent.
About J.W. Childs Associates, L.P.
J.W. Childs is a Boston-based private equity firm focused on investing in middle-market growth companies. Since inception in 1995, J.W. Childs has invested in excess of $3.4 billion of equity capital in more than 47 companies across the consumer, specialty retail and healthcare industries. The firm’s success has been built on its industry focus and the extensive operating expertise of its partners. For more information, please visit www.jwchilds.com.