PhyMed Acquires AAA Anesthesia Associates
Allentown Practice Will Continue as Anesthesia Provider for Lehigh Valley Health Network
NASHVILLE, September 11, 2018 — PhyMed Healthcare Group, a physician-led and owned anesthesia and pain management service provider, has acquired AAA Anesthesia Associates, a 37-physician anesthesia practice based in Allentown, Pennsylvania.
AAA Anesthesia, run by president Joseph Galassi, MD, has been part of the Lehigh Valley Health Network of hospitals and multiple Ambulatory Surgery Centers for more than 40 years. Under terms of the acquisition, AAA will continue to maintain its local leadership and provider base of nearly 40 physicians, five nurse practitioners and one physician assistant. Terms of the deal were not disclosed; Haverford Healthcare Advisors was financial advisor to AAA.
“AAA has been serving the Lehigh Valley since 1977, and have a distinguished track record of care for the region,” says Marty Bonick, chief executive officer of PhyMed. “We look forward to working with them to optimize their anesthesia footprint incorporating the analytics and clinical protocols necessary to deliver operational efficiency, and above all, the highest levels of patient satisfaction.”
In addition to AAA, PhyMed has acquired two other anesthesia practices in Pennsylvania. It partnered with Lebanon Anesthesia Associates in 2013 and Anesthesia Associates of York in 2016.
“We share PhyMed’s commitment to providing the finest quality professional care while adhering to the highest ethical standards of honesty, integrity and confidentiality,” says Dr. Galassi. “Given today’s dynamic healthcare environment, PhyMed puts us on a strong footing with the necessary support and resources that come with being part of such a large organization.”