Anesthetix

Anesthesiology and pain management services
Invested in
2006
Status

Acquired by TeamHealth 2009

Location
Palm Beach Gardens, FL
Sector
Healthcare & Life Sciences
Sector
Growth Products & Services
Website

"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
|
Anesthetix
2.8x

Revenue growth during Summit’s 3-year investment period

8x

Provider growth, expanding from 22 providers in five states to 180+ across ten states.

2010

Acquired by TeamHealth

2.8x

Revenue growth during Summit’s 3-year investment period

8x

Provider growth, expanding from 22 providers in five states to 180+ across ten states.

2010

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, and they chose to work with Summit.

How Summit Partners Helped

  • Led a minority investment to provide shareholder liquidity and accelerate national expansion
  • Worked closely with management to help strengthen corporate infrastructure, including financial reporting, human resources and business development
  • Led the recruitment of 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.

The Portfolio Company Executives quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Anesthetix is a former portfolio company of Summit, these individuals did receive general compensation in connection with their employment by the company. In addition, these individuals are not investors in a Summit fund but may have conflicts arising from their past role with Anesthetix due to the company’s relationship with Summit.

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