RiverGlade Capital (RiverGlade), a healthcare-focused private equity firm, has sold its controlling stake in US Oral Surgery Management (USOSM) to Oak Hill Capital (Oak Hill).
Formed by RiverGlade in 2017, in partnership with the Thurston Group, USOSM is a healthcare management services company to the oral surgery sector and represents the largest network of oral surgery practices in the country.
“Early on we recognised the positive industry tailwinds within oral surgery and saw a strategic opportunity to create the first platform of scale in the space,” says Garrick Rice, Managing Partner and Co-Founder of RiverGlade. “Starting with two anchor practices in Texas, we built a partnership model that continues to attract top oral surgeons, align best clinical practices and support exceptional patient outcomes.”
As a first mover in the highly fragmented market, RiverGlade scaled the company from its foundation to where it is today — an industry leading provider with 48 oral surgery practices and 141 surgeons serving patients at 124 clinics across 18 states.
“RiverGlade has been a tremendous partner and their support has been essential to our success,” says Rick Hall, USOSM President and CEO. “Under their leadership, we established a highly replicable strategy for organic growth, developed a robust pipeline of accretive M&A opportunities and built a sustainable infrastructure that can support the business as it continues to grow.”
Danny Rosenberg, Managing Partner and Co-Founder of RiverGlade, adds: “Bringing together a high caliber management team was a critical step to creating and growing USOSM into the unrivalled market leader in the oral surgery industry. The deep industry expertise, unwavering commitment to growth and focus on physician and patient success has been instrumental in executing strategic and operational initiatives and will be key to USOSM’s continuing success.”
Moelis & Company LLC provided M&A advisory services and Kirkland & Ellis LLP provided legal counsel to RiverGlade and USOSM.
