Sharonville, Ohio-based Beacon Orthopaedics & Sports Medicine acquired a seven-physician orthopedic group based in Montgomery, Ohio, according to the Cincinnati Business Courier.
1. Beacon acquired Reconstructive Orthopaedics & Sports Medicine on July 31 and agreed to retain its nearly 100 employees. The practice already has 550 employees and 27 physicians. Almost all Reconstructive Orthopaedics & Sports Medicine employees that were furloughed during the pandemic have returned, and Beacon rehired all 219 workers it furloughed earlier this year due to the pandemic.
2. The combined group includes 34 physicians as shareholders in the practice; Reconstructive Orthopaedics brought one employed physician and one physician on the partnership track to the group.
OrthoAlliance, a management services organization Beacon owns with private equity firm Revelstoke Capital Partners, brokered the deal.
4. Under the agreement, Reconstructive Orthopaedics & Sports Medicine transitioned to Beacon's IT systems, which include EHR, human resources and employee benefits. Reconstructive Orthopaedics & Sports Medicine also rebranded to Beacon Orthopaedics & Sports Medicine.
5. The acquisition will allow the newly joined physicians to operate at Beacon's two ASCs as well.
6. Terms of the agreement were not disclosed.