Crescent City Surgical Centre Operating Company, L.L.C. Has Completed a Minority Recapitalization with LCMC Health
HOUSTON, February 23, 2015 - GulfStar Group ("GulfStar") is pleased to announce the minority recapitalization of Crescent City Surgical Centre Operating Company, L.L.C. (“CCSC” or the “Company”) with Crescent City Physicians, Inc., a wholly-owned subsidiary of Touro Infirmary, and its parent corporation LCMC Health. GulfStar served as the exclusive advisor to CCSC throughout the transaction that closed on February 2, 2015.
CCSC was founded in 2011 by Tom Lavin, MD, Chad Millet, MD and Najeeb Thomas, MD. The Company operates a full-service surgical hospital located in Metairie, Louisiana, a suburb of New Orleans. CCSC is owned by a group of distinguished, nationally-recognized physicians and offers a number of surgical specialties: bariatrics, neurosurgery, orthopaedics including total knee and hip replacements, women’s health, urology, otolaryngology, plastic surgery, general surgery, and pain management.
“In its short operating history, CCSC has fulfilled its mission as a premier surgical hospital serving patients by delivering quality outcomes and an outstanding patient and family experience,” said Najeeb Thomas, Medical Director of CCSC. “LCMC Health is a highly respected health care system. Our partnership will allow us to grow our model and provide more local, national and international patients with the highest quality physicians and surgical services.”
“We are incredibly excited to work with CCSC as we continue to grow and provide quality health care throughout the New Orleans metropolitan area,” said Jim Montgomery, CEO of Touro Infirmary and President & COO of LCMC Health. “CCSC’s innovative work will grow and flourish with the support of our resources. It’s our goal to create a stronger, healthier Louisiana and CCSC joining the CCPI family will help accomplish that goal.”
LCMC Health is a large, financially strong health care system that provides a full continuum of care to the Gulf South region. LCMC Health is the parent organization of Children’s Hospital, Touro Infirmary, New Orleans East Hospital, Interim LSU Hospital, and the future University Medical Center in New Orleans.
The GulfStar team included Managing Director Cliff Atherton, Senior Vice President Pam Reiland, Associate Caroline Incavo, and Analyst Patrick Wilkey. “GulfStar was fortunate to work with the very accomplished group of physician-owners at CCSC,” said Atherton. “Healthcare is an important part of our practice, and we were fortunate to have the opportunity to assist this great team of doctors in finding a partner that complements and enhances their strengths. We believe that LCMC Health is the ideal choice for CCSC.”
About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed approximately 600 transactions in 32 states and 10 foreign countries across a variety of industries.
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