Provident Healthcare Partners (“Provident”), a leading healthcare investment banking firm, announced it has advised Relievus in its merger with Clearway Pain Solutions (“Clearway”), a portfolio company of NexPhase Capital (“NexPhase”). Relievus adds 44 providers and 21 locations to Clearway’s existing capacity and expands the company’s presence into New Jersey and Pennsylvania. The combined organization creates one of the largest interventional pain management practices in the United States.
Provident’s deal team was led by Eric Major, a Managing Director at the firm. Fox Rothschild LLP served as legal counsel to Relievus, and McDermott Will & Emery LLP served as legal counsel for Clearway. The terms of the transaction were not disclosed.
Relievus’ Chief Operating Officer, Ronald Saltiel, commented “Working with Provident Healthcare as our investment banker was the best decision we made. Not only did they find us the right partner, but they worked both tirelessly and seamlessly to make this transaction possible. Clearway Pain was the perfect fit for our practice, and we believe together we will be the leading pain management practice in the United States.”
“Ron Saltiel and Dr. Young Lee have developed a leading multi-modality pain management practice in the Northeast. Relievus’ alignment with Clearway is a very complementary fit, adding a substantial footprint in Southern New Jersey and the greater Philadelphia area. Together, the organization is poised for continued growth into adjacent markets in New Jersey and Pennsylvania, providing best-in-class pain solutions to patients,” commented Major.
Relievus is based in Cherry Hill, NJ and was founded in 2008 by Dr. Young Lee. The practice is now comprised of 16 physicians, 19 advanced practitioners, five acupuncturists, three behavioral health professionals, and one physical therapist, treating patients in 21 locations in New Jersey and Pennsylvania. Visit https://www.relievus.com/ for more information.
About Clearway Pain Solutions
Clearway Pain Solutions is a leading interventional pain management platform focused on relieving pain, restoring function, and renewing quality of life for its patients. Clearway offers a one-stop, comprehensive, and integrated system of advanced pain solution treatments, serving as the end-to-end provider of a full-spectrum of interventional procedures, chiropractic services, physical therapy, massage therapy, and regenerative medicine, along with lab testing, durable medical equipment, and other ancillary services. Clearway also specializes in helping patients recover from workplace and auto accident injuries. Visit https://clearwaypain.com/ for more information.
About Provident Healthcare Partners
Provident is a leading healthcare investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation services for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including integrated pain management services. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a multitude of investors such as private equity firms and strategic consolidators. For additional information, visit www.providenthp.com or follow on LinkedIn.
Provident Healthcare Partners
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