DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics (DTx) market (the Company), announced it has entered into an agreement to purchase all of the right, title and interest in certain assets of Physimax Technologies Ltd. (“Physimax”), a leading provider of computer vision (CV) technology for Musculoskeletal (MSK) functional screening and predictive risk of injury assessment. Physimax’s technology is currently in commercial use by NBA and NFL teams, the U.S. military and health care facilities specializing in orthopedic care.
Aligning with musculoskeletal management services organizations is becoming a more attractive strategic option for some orthopedic practices as economic, payer and administrative hurdles continue to challenge physician-owned groups to maintain independence. The list of tasks medical practice managers must address — coding, billing, compliance, payroll, revenue cycle management, etc. — requires a significant amount of time. Ensuring a practice is getting the best pricing for supplies, implants and services as well as tending to day-to-day issues can prove overwhelming, which is where MSOs aim to help out.
On Dec. 7, 2021, 7 Springs Orthopedics completed the acquisition of Sport Ortho Urgent Care in order to form one of the largest orthopedic providers in Tennessee. The company will assume the primary name of “Sport Ortho Urgent Care” in an effort to further communicate a patient-centered healthcare model with immediate access to musculoskeletal care and extended hours of operation. With plans to continue rapidly expanding facilities and service lines, the long-established orthopedic providers now boasts 14 full-time orthopedic locations in Middle Tennessee, six of which offer full-time physical therapy in-house. The company will continue to increase its geographic footprint throughout the state and has plans to begin evaluating its expansion into other states in 2022.
Novum Orthopedic Partners, a national leader in orthopedics and spine practice management, launched a new orthopedic practice management platform in Texas, through the completion of strategic investments in Arlington Orthopedic Associates (AOA), Abilene Sports Medicine & Orthopedics (ASMO), and Waxahachie Orthopedic and Sports Medicine on December 29, 2021. In conjunction with the transactions, Novum also invested in two leading surgical facilities, including the Abilene Center of Orthopedics and Multispecialty and Baylor Scott & White Orthopedic and Spine Hospital at Arlington. Novum is backed by A&M Capital Partners (AMCP), a middle-market private equity firm with total assets under management of more than $2.7 billion and Alvarez & Marsal Capital, a multi-strategy private equity investment firm with over $3.7 billion in assets under management.
Trias Global, a musculoskeletal management company, and Chicago Pacific Founders (“CPF”), an investment advisor that manages private strategic healthcare investment funds, have entered into a partnership that will expand on the innovative outpatient model behind DISC Sports & Spine Center (“DISC”), a premier provider of minimally invasive spine care. As a result of the recently signed deal, Trias Global becomes the parent company to DISC’s ambulatory surgery center, DISC Surgery Center at Newport Beach, and will serve as the expansion vehicle. DISC Sports & Spine Center is California’s premier provider of spine care, orthopedics, pain management and sports medicine.
Outpatient orthopedic procedures have become more normalized in recent years, and some surgeons believe that trend will continue to accelerate. Growth in the ASC market, the COVID-19 pandemic and physician ownership opportunities are among the factors surgeons believe will grow outpatient orthopedics. Five surgeons told Becker’s how they envision outpatient orthopedics over the next five years.
OrthoBethesda, a physician-led and majority physician-owned provider of orthopedic services in the greater Washington, DC region and a portfolio company of Atlantic Street Capital (ASC), today announced a partnership with Washington Orthopaedics and Sports Medicine (WOSM). The combination creates the leading orthopedic care services provider in the region with 27 world class orthopedists. WOSM has provided the highest quality of orthopedic medical and surgical care in the Washington Metropolitan Area for over 35 years. The physician-led practice is comprised of 12 nationally recognized board-certified and fellowship-trained orthopedic surgeons.
Birmingham, Ala.-based Andrews Sports Medicine & Orthopaedic Center is the latest practice to join U.S. Orthopaedic Partners, a private equity-backed management services organization in the Southeast. U.S. Orthopaedic Partners was formed in October 2020 after FFL Partners invested in Jackson-based Mississippi Sports Medicine. Graham Young, vice president of mergers and acquisition at U.S. Orthopaedic Partners, spoke to Becker’s about the platform’s growth strategy, consolidation in healthcare and the new era of private equity in orthopedics.
Lincoln’s two largest orthopedic medicine practices are joining forces. Lincoln Orthopaedic Center and Nebraska Orthopaedic and Sports Medicine announced Monday that they have merged to form Nebraska Orthopaedic Center. Dr. Douglas Tewes, formerly of Lincoln Orthopaedic, said pressures facing health care providers, along with a desire to provide exceptional care, “led to the decision by these two premier orthopaedic groups to merge.” The combined practice has 24 doctors and about 240 employees.
OrthoAlliance (OA), a Revelstoke Capital Partners portfolio company and one of the country’s leading orthopaedic management services organizations, has announced a new partnership with New Albany, Ohio-based JIS Orthopedics that will add eight physicians and two central Ohio locations to OA’s expanding network. Based in Cincinnati, OA is a management services organization formed in partnership with Revelstoke Capital Partners, a Denver-based private equity firm. In just the last couple years, OA has grown quickly to over 70 physicians and 1,100 employees.
What We Do
Who We Are
How We Work
Who We Help
Get In Touch
Connect With Us
Subscribe to Our Daily Note
We publish a Daily Note that aggregates M&A activity, notable developments, regulatory changes, and conferences we deem to be of interest to our partners. It is a quick afternoon read and an easy way to keep your finger on the pulse of the healthcare space. Please fill in your name and email address below if you wish to subscribe.