Where orthopedic PE partnerships stand in 2020

Eric Oliver -   Print  |

The allure of high profit margins, ancillary services and an aging population demanding services is driving private equity investors to partner with orthopedic practices.

Here are the deals that involved orthopedic practices:

Orthopedic Care Partners

- Based in Gainesville, Fla.
- Backed by Varsity Healthcare Partners in 2017
- Formed when Gainesville-based The Orthopaedic Institute partnered with Varsity.
- Partnered with Vail, Colo.-based The Steadman Clinic, Lauderdale Lakes-based Florida Spine and Pain, Lecanto, Fla.-based Citrus Orthopaedic & Joint Institute, Ocala (Fla.) Orthopaedic Care, and Ocala-based James B. Duke, MD

Kohlberg & Company

- Based in Mount Kisco, N.Y. 
- Backed Greenwich, Conn.-based Orthopaedic & Neurosurgery Specialists in 2019.
- Acquired Orthopedic Associates of Middletown (Conn.) in September 2020.

Candescent Partners

- Based in Boston.
- Backed Mount Pleasant, S.C.-based Southeastern Spine Institute in April 2017.
- Has made no add-on acquisitions.

Beacon Orthopaedics and Sports Medicine

- Based in Cincinnati.
- Backed by Denver-based Revelstoke Capital Partners in July 2019.
- Has made no add-on acquisitions.

Cora Physical Therapy

- Based in Lima, Ohio.
- Backed by Gryphon Investors in June 2016.
- Acquired Rockford, Ill.-based Orthopedic and Sports Therapy Institute in July 2019.

Atlantic Street Capital

- Based in Stamford, Conn.
- Formed when Atlantic Street Capital invested in OrthoBethesda (Md.) in September 2018.
- Has made no add-on acquisitions.

NueHealth

- Based in Leawood, Kan.
- Entered into a joint venture with Philadelphia-based Rothman Orthopaedic Institute in February 2019.

Surgery Partners

- Based in Nashville, Tenn.
- Acquired Chicago-based National Surgical Healthcare in May 2017 using funds from Bain Capital Private Equity.
- Bain acquired a stake in Surgery Partners as a result.

U.S. Orthopedic Partners

- Based in Jackson, Miss.
- Formed when FFL Partners entered into a partnership with Jackson-based Mississippi Sports Medicine and Orthopaedic Center in October.
- Has made no add-on acquisitions.

Note: This list is not exhaustive. Email eoliver@beckershealthcare.com to add on deals or to discuss PE investment.

More articles on robotics:
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2 MedStar Health Hospitals first to use Cirq Robotic Arm

 

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