• Corporate Finance Transactions

BGL Expands Healthcare Group with Addition of Health Facilities Advisory Team

June 21 2012

Brown Gibbons Lang & Company (BGL), a leading independent middle market investment bank, is pleased to announce the addition of a seasoned health facilities financial advisory team to the firm. Based in Chicago, the new team will expand BGL’s existing Healthcare Group, which focuses on diagnostics, life science tools, medical products, provider services, outsourcing and informatics, and payer services.

The newly-formed Health Facilities practice will be led by Manfred Steiner, who joins BGL as a managing director and partner in the Healthcare Group. Steiner has more than 20 years of experience working with healthcare providers, which includes 12 years at Huron Healthcare and its predecessor, Wellspring Partners, where he was a managing director and head of the firm’s financial advisory group. Steiner has extensive experience providing corporate finance solutions to a broad spectrum of providers, including for-profit and not-for-profit hospitals and health systems; physician groups; and related ancillary service providers. He has deep expertise in mergers and acquisitions, strategic alliances and joint venture formation, hospital/physician alignment models, equity syndications, and broad-based market development strategies. Steiner’s transaction experience includes:

  • Advised Resurrection Health in the sale of Westlake Hospital, West Suburban Medical Center, and related businesses to Vanguard Health Systems.
  • Advised CHRISTUS Health in its joint venture with St. Vincent Regional Medical Center and supported the JV’s subsequent acquisition of Physicians Medical Center, as well as other market development activities.
  • Advised Fairfax Anesthesiology Associates, one of the largest independent anesthesia groups in the United States, in its sale to Mednax.
  • Advised Ascension Health in its acquisition of The Care Group, the largest cardiology group in the United States, along with the acquisition of an affiliated heart hospital and related ancillary businesses.

Steiner holds a Masters of Business Administration degree from The University of Chicago Booth School of Business, and a Bachelor of Science from Babson College.

Steiner and his team will augment BGL’s advisory capabilities for health facilities, including hospitals and health systems, surgical facility management companies, and physician groups. These sectors are undergoing significant change, with the pace of consolidation accelerating, driven by regulatory and reimbursement pressures, improved access to capital, and benefits of scale. BGL’s team helps clients navigate an increasingly complex marketplace and assists them in identifying and harvesting strategic opportunities.

Steiner joins John Riddle, managing director and partner and head of BGL’s Healthcare Group, who together bring 40 years of experience in the healthcare industry, working with public companies, privately-held and family-owned businesses, private equity sponsors, and not-for-profit institutions. “Manfred has a sterling national reputation for providing value-added, informed, unbiased advice to his clients,” said Riddle. “We look forward to bringing our broad advisory capabilities into his deep relationships with virtually every major health system, many of the larger surgical facility operators, large physician groups, and ancillary providers across the United States.”

About Brown Gibbons Lang & Company

Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers & acquisitions advisory services, debt & equity placements, financial restructuring advice, and valuations & financial opinions, with global industry teams in healthcare, consumer, business services, basic industrials, and real estate. BGL has offices in Chicago, Cleveland, and Salt Lake City, and Global M&A partner offices in more than 40 countries across 5 continents, which allows us to deliver to our clients unparalleled access to corporations, institutions, investors, and opportunities globally. For more information, visit www.bglco.com.

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Related industry: Health Facilities
Related pages: Health Facilities, Healthcare & Life Sciences, John C. Riddle, Manfred R. Steiner

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