Philadelphia, PA – Capstone Partners LLC, a leading national investment banking firm, has successfully advised Surgical Monitoring Associates®, Inc. (SMA®) on its acquisition by SpecialtyCare. The terms of the transaction were not disclosed.
Surgical Monitoring Associates® is a leading provider of outsourced Intraoperative Neurophysiological Monitoring (IONM) services to leading hospitals and surgical groups throughout the Northeast. SMA’s® surgical neurophysiologists play a vital role in reducing the incidence of post-operative neurologic complications through early identification of emerging neural injury during high-risk surgeries and facilitation of timely intervention by the surgical and anesthesia teams. “I am very pleased that we are joining forces with SpecialtyCare, a leader in outsourced clinical and operating room services that shares our focus and commitment to clinical and service excellence both to the patient and surgeon,” commented Dr. Daniel Schwartz who founded SMA® in 1986. “SpecialtyCare is ideally positioned to thrive as health care continues to evolve,” commented SMA® CEO Tom Maffettone. “We believe that this combination is a good fit culturally and is in the interest of patients, surgeons, hospitals and our outstanding surgical neurophysiologists who will benefit from the resources and reach of a well-capitalized national organization.” Additional information about SMA® can be found at www.surgmon.com.
SMA® is recognized as an innovator and pioneer in IONM and has an exceptional surgical neurophysiology staff that is arguably the most highly educated and clinically experienced in the industry. Its reputation is unequaled in the field as evidenced by its longstanding relationships with many of the most prestigious hospitals and renowned surgeons across the broad spectrum of specialties. Likewise, it is unmatched in published landmark research in the development and application of neuromonitoring techniques, particularly in pediatric spine and neurosurgery.
“Needless to say, we are thrilled to have SMA®, one of the most prestigious neuromonitoring groups in the nation, join our team as we continue to grow our national platform for outsourced clinical services,” said Jim Lordeman, SpecialtyCare’s Executive Vice President of Strategic Development. SpecialtyCare is the largest provider of outsourced clinical services in the nation and is dedicated to assisting hospitals in their efforts to enhance operational efficiencies, improve outcomes and reduce blood utilization. SpecialtyCare provides highly specialized clinical services to the operating room and related areas of the hospital. Services include intraoperative neuromonitoring, cardiovascular perfusion, surgical assist, autotransfusion, minimally invasive surgical support, sterile processing department management, and anesthesia support. With the addition of SMA, SpecialtyCare provides services to more than 635 hospitals in 41 states, the District of Columbia, Puerto Rico and Germany. SpecialtyCare’s website is available at www.specialtycare.net.
The Capstone M&A team of Eric Williams, Managing Director, and Mark Surowiak, Director (both based in Philadelphia, PA), managed the transaction on behalf of SMA®. “The outsourced clinical services sector continues to experience heightened M&A activity as companies like SpecialtyCare look to capitalize on the inherent need for hospitals to boost efficiency, reduce costs and improve patient outcomes,” said Eric Williams. He added that the IONM sector is particularly active since it is still highly fragmented and experiencing robust growth resulting from the aging population, an increased prevalence of chronic disease requiring complex surgeries, and a growing recognition among surgeons and hospitals of the benefits of IONM to patient safety.