That Rash is back

Successful healthcare entrepreneur forays into pathology sector with latest venture, unites with several execs of failed hospital company

Email | Print By Walker Duncan

Famously successful local healthcare entrepreneur Marty Rash is back with a new venture.

According to the company’s Web site, American Pathology Partners is hoping to build a “a national network of pathology laboratories in partnership with pathologists, providing physicians and their patients with the most accurate and informative diagnoses possible in the shortest timeframe.”

The new company is based in Maryland Farms and has snagged financial backing from New Enterprise Associates, whose other current healthcare investments include Hospital Partners of America and Medicare Advantage insurer Bravo Health. The investment shop also was an early investor in Caremark.

Rash, co-founder of Province Healthcare, which sold to LifePoint in 2004 for just over $1 billion, has had his finger in a number of pies since that deal closed. Among others, he has invested in Abrio Healthcare Solutions and Goodlettsville-based healthcare software outfit Aionex and helped with the formation of Franklin-based revenue cycle management firm nTelagent.

An interesting side note to the launch of American Pathology comes from the other names listed on American Pathology’s site. Bob Yeager is the company’s CEO, Lee Dilworth its chief legal and administrative officer and John Starling its VP of finance. All three worked most recently with the now defunct Attentus Healthcare.

That rural hospital operator, despite hefty capital backing from New York’s JLL Partners and local player Clayton Associates, quietly closed up shop recently after selling off some or all of its remaining hospitals.

From speaking with sources around town, the exact reason for Attentus’ failure remains a subject of debate. Some blamed a failed concept, while others point the finger more at JLL Partners' management of its investment. Whatever the case, the recording answering the phone at Attentus’ offices informs callers that the company has ceased day-to-day operations.

A call made to American Pathology this morning has not been returned