LBMC Transaction Advisory Services team delivers high-quality expertise for healthcare group.

My name is Chris Farley. I’m the VP of Integration for PhyMed Healthcare Group, a practice management company owned and managed, and led by physicians.

PhyMed Healthcare Group employs or partners with over 800 anesthesiologists and CRNAs, which are nurse anesthetists. We offer services with those teams in five different states currently, and we are growing and expect to be in several more states by the end of the year. We offer services in inpatient hospitals, outpatient hospitals, ambulatory surgery centers, office-based anesthesia, pain medicine. Any place an anesthesiologist would touch, we are heavily involved in. We’re very proud of the high-quality care that they provide.

PhyMed Healthcare Group

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LBMC Transaction Advisory Services team delivers high-quality expertise for healthcare group.

My role is due diligence as we’re looking at the healthcare groups to purchase. I assist and coordinate those efforts pre-deal. Then, post-transaction I work with that group to integrate them into PhyMed.

During the diligence phase, when we’re looking at a practice to purchase, we have a very lengthy list of areas that we like to dig into and understand the full practice financially, legally, operationally, clinically, etc. We partner with LBMC to work on the quality of earnings, revenue, and all the financial pieces. LBMC provides us with quite a list of topics and questions that we give to the potential partner. Then, we have multiple talking sessions with the physician groups and their bankers.

PhyMed Healthcare Group has worked together with LBMC on six to eight deals at this point, and it’s always with Lisa Nix and her team. She’s very easy to work with and very responsive to our needs. I totally trust her insight, as does the rest of the PhyMed team.

Our CFO, our deal team, assist development team of which I’m a part of, we rely very heavily on the information that the LBMC Transaction Advisory Services team provides. And we will typically try to tie it back from our finance team as well, but not to the level that LBMC does, and it always ties back together.

There is a very high degree of trust and confidence in the work that LBMC produces, and we use it for multi-million-dollar deal purchases. There’s a great deal of faith in LBMC.

I appreciate having the same team over, and over, and over again, and not having to explain to a different group what PhyMed does, what an anesthesia practice does, and what we’re looking for. I mean they’ve learned the lingo of very difficult business that we work through. All the nuances of inpatient hospitals, and outpatient facilities, and office-based, and what is a CRNA, and what is all the different pieces that we look at for diligence that may not have anything to do with finance, but they’re very much still curious, and they want to understand those areas as well because it makes their product that much better, and I don’t think we could do that if we didn’t have the same team. I would not be happy if I didn’t get Lisa and her team.