Compass Completes Turnaround of Florida Center: HCA acquires 51% interest in Bay Area Physicians Surgery Center

BAPSC

(January 15, 2016) – The Bay Area Physicians Surgery Center, a 3 OR and 3 procedure room facility, was founded in 2007. During the years following the launch, while the clinical quality remained high, the business performance struggled considerably. As a result, Compass was invited to invest in the center and provide management services in 2012.

The turnaround plan included obtaining AAAHC accreditation, additional physician recruitment, restructuring the board governance and retooling the business office.

BASPC Board Member and ENT surgeon Scott Powell, MD said, "Compass worked tirelessly to help our center. I never had any doubt in their integrity. They set us up for a profitable hospital partner merger".

Despite significant setbacks, the center was able to ultimately achieve it's original goals with Compass' participation and guidance.

Sean Rambo, COO of Compass relayed, "The turnaround is a testimony to the surgeon partners commitment to clinical quality and the partnership. We worked as a team and were able to achieve great things together."

 

Compass enters joint venture with Tampa based Clearwell Group

TAMPA, FL (September 17, 2014) – Compass Surgical Partners, LLC, a surgery center management and development company specializing in denovos, hospital partnerships, and turnarounds, today announced that it has entered into a joint venture with Clearwell Group, LLC, a Tampa-based family office investment manager, for the purpose of accelerating its Ambulatory Surgery Centers (ASCs) activity.

"This partnership will allow us to tackle both more and larger projects.  Our management team has managed a much larger portfolio in a prior firm.  The partnership with Clearwell allows us to advance our portfolio more quickly.  I’ve known Doug Free of Clearwell for over 30 years and know that his high standards for quality and ethics are a match for us,” said DJ Hill, Co-Founder of Compass.  “Our clients should expect no material changes to their operations with this development.”

David Hall, Chairman of Compass noted, “Clearwell was flexible and responsive to our needs.  We look forward to our emerging relationship with them”.

“Clearwell Group is pleased to support a first class surgical management group like Compass.   They deliver very strong results relative to their peers in the industry,” said Douglas Free.  “We work to add value to each of our partnerships.  The Compass investment fit our profile of strong management teams in markets where we have relationships in promising industries.” 

About Clearwell Group

Clearwell Group is a family office investment advisory business based in Tampa, Florida. Clearwell Group makes control and meaningful minority investments in companies located in the southeastern United States across all stages of development. Clearwell Group supports high integrity entrepreneurs with a collaborative approach to creating value that leverages experience and network. This approach aligns the interests of Clearwell Group with management to achieve the best possible outcome with the right amount of capital over the right period of time. For more information, please visit www.clearwellgroup.com.

Darin Jay Hill, Founding Partner of Compass, to address ASC Profitability at the McDermott Will & Emery 2014 ASC Symposium

hillMiami Beach, FL (February 12, 2014) - The ASC Symposium is a premier national conference addressing high-level business and legal issues affecting the ambulatory surgical center industry. The 2014 ASC Symposium, sponsored by McDermott Will & Emery, will be held on February 21, 2014 at the Fountainbleu, Miami Beach, Florida.

This year's meeting focuses on the impact of Health Care reform on the ASC Industry and the various roles, trends, and issues in ASC transactions in this changing health care landscape. This annual conference, currently in its 12th year, provides valuable insight to physicians, business decision makers, executives and development personnel involved in ASC ventures.

The Program Faculty includes Darin Jay Hill, a Founding Partner of Compass Surgical Partners, LLC, who will address strategies for improving ASC profitability. Compass Surgical Partners is a firm that acquires, manages and develops Ambulatory Surgery Centers (ASCs). Compass Surgical Partners focuses in three core areas of partnerships, Hospital Joint Ventures, Turn-arounds and DeNovo ASCs. http://www.compass-sp.com

 

Compass to address the 11th Annual Healthcare and Life Sciences Private Equity & Finance Conference in Chicago, IL

Chicago, IL (February 11, 2014) - On February 25-26, 2014, McGuireWoods, LLP and McGladrey LLP will be hosting the 11th Annual Healthcare and Life Sciences Private Equity and Finance Conference at the Ritz-Carlton Chicago in Chicago, Illinois.

This two-day healthcare-focused private equity, lending and finance conference will review the dramatic changes in the healthcare and life science markets and examine how successful private equity funds achieve capital growth by implementing the right strategies in the right markets.

Compass Surgical Partners, LLC's Darin Jay Hill will be a panel speaker focusing on Ambulatory Surgery Centers and related surgical businesses. Attendees of this premier annual conference include healthcare leaders from across the United States.

 

Compass welcomes new physician partners to its Safety Harbor Surgery Center

safetyharborClearwater, FL (January 15, 2014) - Compass Surgical Partners, LLC, today announced that Safety Harbor Surgery Center, its ASC located in Clearwater, Florida, has successfully completed a resyndication. On January 1, 2014, a group of pain management physicians, anchored by Dr. George Panagakos and Dr. Lee Ann Brown acquired an ownership stake in the surgery center, alongside Compass Surgical Partners and several other community based physicians.

"We are excited to welcome our new partners and look forward to working with each of them as we reposition Safety Harbor Surgery Center in the competitive southwest Florida market," commented Sean Rambo, Founding Partner of Compass Surgical Partners LLC and Board Member of Safety Harbor Surgery Center, LLC. "The Safety Harbor Surgery Center is a solid partnership that we believe is greatly enhanced by the addition of these well respected clinicians. We look forward to continuing to execute upon our growth strategy for the surgery center and the greater Tampa market."

Since Compass' involvement in the Safety Harbor Surgery Center in mid-2013, the center has seen a dramatic increase in surgical volume, an expanded physician partnership base and a positive financial recovery and progression. These newly announced physician partnerships continue the Center's recent trend of positive growth and promises a strong financial outlook for the center