Two new private equity platforms were established in the orthopedic sector in the third quarter of 2019, according to Provident Healthcare Partners’ “Q3-2019 Physician Services Update.”
Robert Aprill, a Senior Associate at Provident, spoke to Becker’s ASC Review about the recent transactions and what’s on the horizon for orthopedics.
Question: What stands out to you about third-quarter activity in the orthopedic sector?
Robert Aprill: In the third quarter of this year, we saw the first “second bite” when Frazier-backed The CORE Institute [in Phoenix] was acquired by Audax Group. Not only is this substantial because Audax is a blue chip investor in the middle market of physician services, but it demonstrates that there is a path to a successful exit. This will be noted by PE groups in the market that are working on their orthopedic investment theses. Additionally, orthopods around the country have taken note, and this exit provides a road map for them to follow.
To access the full article, click on the following link: An orthopedic practice nearby could be considering PE backing — here’s why it matters
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