PhyMed Healthcare Group Partners With Ontario Teachers' Pension Plan
Teachers' Private Capital Selects PhyMed as its Anesthesia Services Platform
NASHVILLE, Tenn., Dec. 15, 2014 /PRNewswire/ -- PhyMed Healthcare Group (PhyMed), a physician-led and owned anesthesia and pain management services organization, has partnered with Ontario Teachers' Pension Plan (Teachers'), Canada's largest single-profession pension plan.
"PhyMed has grown tremendously since the formation of the original partnership, and we have spent significant time on the development of our strategy and infrastructure in preparation for more expansive business and market growth," said Dr. Frederick Miller, Chief Executive Officer of PhyMed. "Partnering with Teachers' will allow for an accelerated and innovative growth strategy, an expanded and focused footprint and the expeditious implementation of value-additive strategic initiatives."
The investment in PhyMed is being made through Teachers' Private Capital (TPC), Teachers' private equity investing arm. TPC's investment approach includes leading deals on a sole or partnered basis as well as investing in, and occasionally co-investing with, other like-minded private equity funds. TPC manages a global portfolio valued at approximately $14.8 billion. Select current and past TPC investments include Heartland Dental, INC Research, 24 Hour Fitness, Insight Pharmaceuticals, General Nutrition Centers, Helly Hansen, Flynn Restaurant Group, Maple Leaf Sports & Entertainment, Maple Leaf Foods, Doane Pet Care and Samsonite Corporation.
"PhyMed is a high-quality, well-managed business with excellent growth prospects, and we are delighted to have the opportunity to partner with the management team," said Jane Rowe, Senior Vice-President of TPC. "PhyMed is an excellent fit in our healthcare portfolio and will provide an anesthesia services platform among these investments. We are pleased to support the company as it enters its next stage of growth."
PhyMed's executive team will continue to be headquartered in Nashville under Dr. Miller's leadership.
About PhyMed Healthcare Group
Based in Nashville, PhyMed Healthcare Group is a physician-led and owned leader of anesthesia, pain management and critical care professionals, and is committed to providing focused, proactive and innovative business solutions that foster high-quality, care-centered results. PhyMed Healthcare Group is a trusted partner proudly serving healthcare systems, ambulatory surgery centers (ASCs) and office-based anesthesia in multiple states. To learn more, visit www.phymed.com.
About Ontario Teachers' Pension Plan
Ontario Teachers' Pension Plan is Canada's largest single-profession pension plan with $141 billion in net assets. It administers defined-benefit pensions and invests plan assets on behalf of 307,000 working and retired teachers. Established as an independent organization in 1990, it has built an international reputation for innovation and leadership in investment management and member services. Teachers' employs more than 1,000 employees at its head office in Toronto, Canada, with investment offices in London, Hong Kong and New York. To learn more, visit http://www.otpp.com.
CONTACT: Sarah Drexelius, [email protected], 312-207-2369 ext 224
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/phymed-healthcare-group-partners-with-ontario-teachers-pension-plan-300009794.html
SOURCE PhyMed Healthcare Group
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