Cincinnati-based Beacon Orthopaedics and Sports Medicine launched a national management services organization in partnership with private equity firm Revelstoke Capital Partners.
Four things to know:
1. Beacon's management team will lead operations at the MSO and provide extensive resources and capabilities to support the practice's clinical operations. Beacon was founded in 1996 and now has eight locations in Ohio, Kentucky and Indiana.
2. Revelstoke brings additional resources and investments to the partnership, allowing Beacon to grow. The PE firm is in the middle of a multiyear effort to partner with physician practices "in specialties that are well-positioned for growth and consolidation," according to Managing Director of Revelstoke Andrew Welch.
3. Proskauer Rose was legal counsel and Coker Capital Advisor was financial advisor to Beacon. McGuireWoods served as legal counsel to Revelstoke.
4. Revelstoke launched in 2013 and has raised around $1.4 billion of equity since then. The company has completed 57 acquisitions, including 14 platform companies and 43 add-on acquisitions.
"We've been successfully focusing on our patients, delivering the best patient experience by providing instant access to high quality, affordable care. That will not change," said Beacon President Peter Cha, MD. "We see tremendous growth opportunities with this partnership by recruiting more best-in-class providers, opening new clinical facilities, expanding our patient care and business support services and aligning with market leading provider groups."