Waud Capital Partners’ portfolio company ProNerve has acquired PhysIOM Group, one of the largest providers of intraoperative neuromonitoring (IONM) services in the western and southeastern US.
Headquartered in Colorado, PhysIOM serves over 290 hospital clients across 33 states.
PhysIOM represents ProNerve’s third acquisition in 2012 and establishes the company as a national provider of IONM services and the market leading provider of IONM services in the western US.
“Having a stated objective of building the leading provider of IONM services in the western US, we are thrilled to complete this business combination,” says David Neighbours, partner at Waud Capital Partners.
WCP first invested in ProNerve in February 2012 and has also completed acquisitions for ProNerve in Washington and Arizona.
“Individually, both companies are well respected in our field, but combined we have a stronger platform from which to serve our customers,” says Luke Johnson, chief executive officer of ProNerve. “I look forward to working with PhysIOM’s management team as I believe their strengths to be complementary to our organisation.”
“We are eager to begin the process of joining forces with ProNerve,” says former PhysIOM chief executive officer Rick Flores, who will become president of ProNerve. “PhysIOM’s employees, clinicians and clients have all welcomed the news of this merger.”
