The mergers and acquisitions division of Ponder & Co. has spun off into a separate company, Hospital Acquisition Corp., to advise not-for-profit hospitals weighing merger and acquisition bids.
Joshua Nemzoff, who formerly headed mergers and acquisitions at Healthtrust, started the division for Ponder about a year ago (Feb. 21, p. 37). Healthtrust, a Nashville, Tenn.-based hospital chain, recently merged with Columbia/HCA Healthcare Corp.
Since 1986, Bedford, Texas-based Ponder has been a financial adviser on more healthcare transactions in dollar volume than any other firm, according to Securities Data Corp., Newark, N.J.
Nemzoff said the split with Ponder was amicable. "We decided we would be better having the bond side of the business separate from the mergers and acquisitions side," he said.
Nashville, Tenn.-based Hospital Acquisition has more than $1 billion in deals in progress.