AMG and Excellere Partners join together to become PhyMed Healthcare Group.

Denver-based Excellere invests $42 million in AMG to create the new organization. At the time of the transaction, AMG is run by David Whitten, a former PhyCor executive, and he will stay on as CEO with PhyMed.

AMG was formed in Nashville in 1994, out of a merger between Anesthesia Consultants of Nashville and Middle Tennessee Anesthesia.