Silversmith Capital Partners has announced it is helping fund the formation of new ambulatory surgery center (ASC) company Partners Surgical Corporation (PSC).
PSC, based in Houston, is focused on acquiring, developing and managing multi-specialty ambulatory surgery centers (ASCs) throughout the United States. It was formed by entrepreneurial brothers Robert and Ned Schwing. They are joined by Eric Fournet, who will serve as PSC’s chief financial officer.
Prior to forming PSC, the Schwing brothers co-founded several other healthcare businesses. Most recently, they founded National Cardiovascular Partners (NCP), an outpatient cath lab and ASC partnership venture (for which Fournet served as CFO) that was acquired by Fresenius Medical Care in 2014 for an undisclosed amount.
The Schwings also co-founded Specialty Therapeutic Care (an AcariaHealth Company), a national distributor of specialty pharmaceuticals; Physicians Surgical Care, a national provider of freestanding ASCs and surgical hospitals that was acquired by Symbion in 2002; and Southwest Renal Care, a provider of patient-centered outpatient dialysis facilities.
Silversmith, based in Boston, is a growth equity firm focused on investments in two core verticals: 1) SaaS and information services and 2) healthcare IT and services. It seeks to invest $15 million to $50 million per company, and is willing to increase the equity commitment in select situations.
Silversmith and affiliates have committed up to $100 million to support investment in infrastructure and accelerate PSC growth and expansion.