Even with Private Equity investment in Interventional Pain Management (“IPM”) accelerating in recent years, it remains one of the most fragmented areas within subspecialty medicine. Despite the decade long consolidation wave, the majority of physicians in the IPM sector practice in groups with less than 5 providers. Consolidation is largely being driving by the market inefficiencies created by fragmentation.
Private equity groups are looking to leverage size and scale by creating provider density, bringing ancillary services in house, centralizing infrastructure and operations, and streamlining payor negotiations. Broader industry dynamics, including an increase in the aging population and chronic conditions, have created a favorable environment for private equity groups to transact.
PGP expects to see a continued rise in consolidation within the space as more physicians see the value a private equity partner can bring to their practice.
Select Recent Private Equity Transactions in the Pain Management Space
Date
Target
Platform
PE Sponsor
State
June 2021
Summit Spine & Joint Center
Summit Spine & Joint Center
MSouth Equity Partners
Georgia
April 2021
Austin Premier Surgery Center
Tricity Pain Associates
Spindletop Capital Management
Texas
March 2021
Jackson Anesthesia Pain Center
U.S. Orthopaedic Partners
FFL Partners
Mississippi
February 2021
Prospira Pain Care
National Spine & Pain Center
Avista Capital Partners
Texas
December 2020
Perimeter Pain and Primary Pain
Healthcare Resources Management
Skylight Health Group Inc.
Tennessee
August 2020
Hill Country Pain Specialists
Tricity Pain Associates
Spindletop Capital Management
Texas
November 2019
Advanced Consultants in Pain Care
Tricity Pain Associates
Spindletop Capital Management
Texas
September 2019
VIP Surgical Center
Tricity Pain Associates
Spindletop Capital Management
Texas
May 2019
Barnes Physical Therapy
Tricity Pain Associates
Spindletop Capital Management
Texas
May 2019
Vertical Health
Remedy Health Media
Topspin Partners
New York
May 2018
Interventional Pain Management
Interventional Pain Management
Spindletop Capital Management
Texas
May 2018
Tricity Pain Associates
Tricity Pain Associates
Spindletop Capital Management
Texas
February 2018
Gulf Coast Pain Institute
Gulf Coast Pain Institute
NexPhase
Florida
September 2017
Pain Specialists of Austin
Pain Specialists of Austin
Commonview Capital
Texas
Physician Growth Partners
Physician Growth Partners is a firm that recognizes and prioritizes the importance of clinically focused outcomes, first and foremost. The groups that allow us to advise them will attest to the fact that we always emphasize partnership over economics. When the highest level of care is delivered, financial success will always follow.