To make the Five to Watch, companies had to demonstrate high sales growth between 2017 and 2019 and generate more than $1 million in revenue annually. The Five Companies to Watch are businesses that have not generated the revenue, yet, to make the Private 100 but whose sales are skyrocketing. Here is one of those companies:
Collaborative Anesthesia Partners
Three-Year Avg. Growth: 4,566.7%
Headquarters: 1 Bridge St., Unit 204, Plymouth, NH 03264
Product/Service: Provides anesthesia to hospitals, ambulatory surgery centers and doctors’ offices
CEO: Dan Rice (pictured)
Founded: 2017
Total Number of Employees: 26
Website: anestpartners.com
Ashley and Dan Rice build businesses that help rural hospitals and nursing homes, but while the pandemic temporarily slowed growth, their vascular access and anesthesia companies continue to gain momentum.
In 2017, the couple launched New England Vascular Access, which makes onsite visits to nursing homes and health care centers, especially in rural areas, to deliver vascular services. And the company now serves 10 facilities in New England.
Later in 2017, the Rices launched Collaborative Anesthesia Partners to provide anesthesia services to rural hospitals, dental offices and other medical centers. CEO Dan Rice says it took more than a year to get the company off the ground because of complicated regulatory, billing and certification processes. But they leveraged the contacts they’d made through their vascular business, and the anesthesia business took off in 2019.
“Going into early 2020, we were in discussions with large hospitals in southern New Hampshire,” Rice says, adding they were about to launch a pain management program at one hospital when the pandemic shut down all non-essential surgeries, procedures and dental care.
The business’s long-term anesthesia contracts kept the company afloat during the initial shut down. “We’re back on track with the pain service. We should start by end of year or in January,” Rice says, noting, “Pediatric dentistry came back with a vengeance.”
New clients are coming on board and both companies are once again growing, Rice says. He also points out how their approach to avoid opioids as much as possible is popular in NH where pain management has often served as an entry into substance disorders, Rice says. “To eliminate or decrease that first exposure helps fight the epidemic.”