FFL Partners invests in US Orthopedic Partners
FFL Partners (FFL), a private equity firm focused on growth investments in middle market companies, has formed a new orthopaedic health services organisation, US Orthopedic Partners (USOP).
The Thurston Group, a Chicago-based private equity firm with a focus on investing in healthcare companies, also invested in USOP. Financial terms of the private transaction have not been disclosed.
USOP is a full-service, integrated orthopedic care platform that provides the full continuum of musculoskeletal treatment to patients in the Southeastern US Supported by MSMOC’s diversified orthopaedic sub-specialties, ultramodern ambulatory surgery centre, fellowship training programs and comprehensive suite of ancillary services – advanced imaging, rehabilitation, pain management, urgent care, pharmacy and sports medicine – USOP will be a complete provider for patients who are seeking high quality, value-based surgical care.
“We are excited to support the talented team of MSMOC with the formation of USOP, helping to empower growth-minded physician-owners who would like to focus on providing best-in-class musculoskeletal care while reducing back-office and administrative burdens,” said Chris Harris, Managing Partner, FFL Partners. “Our investment in USOP reflects FFL’s proven experience in partnering with doctors of fast-growing healthcare service organisations who seek the resources and operational guidance we can provide to take their practices to the next level.”
MSMOC is a leading orthopaedic care provider in Mississippi, receiving 89,000 patient visits annually. With a recently opened, ultramodern ambulatory surgical centre, the practice performs more than 10,000 surgeries each year, as well as provides other services such as imaging, rehabilitation, and urgent care.
“FFL is an experienced investor in healthcare services and shares our vision for expanding USOP’s regional footprint in the Southeast through acquisitions of complementary physician practices to meet the strong demand for high quality treatment in the region,” says Glen Silverman, CEO of MSMOC and USOP. “USOP’s scalable platform will enable physicians who join our organisation to spend more time caring for patients and position their practices for long-term success.”
“We’re thrilled to partner with FFL, whose experience will accelerate USOP’s ability to serve more patients in the Southeast and improve operational support for our physician partners,” says Dr James Woodall, Jr, a spine specialist at MSMOC. “We believe USOP's technology-enabled and portability approach to care, coupled with its sophisticated MSO platform, will empower our physician members. This partnership will align market leading orthopaedic provider groups to enhance our ability to provide the highest level of care and generate superior patient outcomes.”
The demand for orthopaedic treatment is continuing to increase nationwide, with inpatient and outpatient surgeries generating USD110 billion in revenue annually. At the same time, many physicians are experiencing increased financial pressures in the current healthcare environment.
“USOP is well positioned to benefit from the confluence of an ageing population and higher rates of injury that often require advanced surgical procedures. We are excited to start this partnership and see tremendous opportunity together,” says Karen Winterhof, Director, FFL Partners. “We think MSMOC’s reputation and long-standing fellowship program provide a great foundation for building a strong orthopaedic platform that fulfils a critical need.”
FFL has proven experience partnering with physicians and building fast-growing healthcare businesses, including EyeCare Partners, a leading vision care provider; Orthodontic Partners, an orthodontic services organisation; and, Summit Behavioral Healthcare, LLC, a leading addiction treatment and behavioural health company.