Emergency Medical Services Corp., a Greenwood Village, Colo.-based provider of ambulance and outsourced hospital-based physician services, announced that it has entered into an agreement to acquire the management-services company Pinnacle Anesthesia Consultants and anesthesiology-services provider Pinnacle Consultants Mid Atlantic.
Both Pinnacle companies are headquartered in Dallas, and include some 700 clinicians working at more than 75 hospitals and ambulatory surgery centers. No financial terms were disclosed, but the transaction is expected to generate about $100 million in new net revenue for EMSC, according to a news release.
The agreement is subject to closing conditions, completion of regulatory filings and approval of certain equity holders. No estimate on when this would be completed was given. Upon closing, the Pinnacle companies will become part of AnesthesiaCare, EMSC's anesthesiology-services operation. When final, the deal will make AnesthesiaCare one of the leading managers of anesthesia practices in the U.S., and it will provide recruitment, risk management, credentialing, process management and other services to more than 130 hospitals in nine states, according to the release.