“Summit knows how to grow businesses. They helped us transform our entrepreneurial operation into a strong organization that was well-positioned to quickly expand at a national scale.”
Dr. Steve Gottlieb and Dr. Tushar Ramani, Cofounders
Palm Beach Gardens, FL
Dr. Steven Gottlieb
Dr. Tushar Ramani
Acquired by TeamHealth 2009
2.8x revenue growth over three years
Grew from 22 providers in 5 states to more than 180 across 10
Acquired by TeamHealth
In the late 1990s, Drs. Steve Gottlieb and Tushar Ramani built an anesthesiology department at a community hospital and quickly established a reputation for quality medical care and customer-focused service. Their model was well-received, and other hospitals sought their help in organizing their own internal anesthesiology departments. The founders established Anesthetix to provide comprehensive anesthesiology and pain management solutions to hospitals and surgery centers. Although the company was growing well, Drs. Gottlieb and Ramani believed they could scale the business more quickly with the help of an experienced partner, so they turned to Summit.
How Summit helped:
- Led a minority investment to provide shareholder liquidity and accelerate national expansion
- Worked closely with management to strengthen corporate infrastructure, including financial reporting, human resources and business development
- Recruited two healthcare executives – James Emanuel of Lincare and George “Mac” McCleary of Senior Home Care – to the board of directors
After three years of strong growth, Anesthetix was acquired by TeamHealth, one of the largest suppliers of outsourced healthcare professional staffing in the United States. The acquisition provided Anethestix with access to a deeper pool of resources, and expanded the founders’ vision for a local delivery model supported by a national platform.