Eye Care Private Equity | Ophthalmology Private Equity | PGP

State of Orthopedics Private Equity

A relatively new sector to experience the wave of private equity investment, orthopedics has begun to show signs of being the next ‘hot sector’. Sharing similar qualities to other successfully consolidated specialties such as dermatology and ophthalmology, a mixture of provider fragmentation, high infrastructure costs (surgical hospitals, imaging, etc.), and profitable ancillary services, has orthopedics on the forefront of many private equity minds.

With only 12 existing platforms, the industry is still ripe for groups around the country to capitalize on a first-mover advantage. Many major metro markets remain untouched by private equity,  creating an opportunity for forward-thinking orthopods to partner with private equity sponsors to be in the driver’s seat of consolidation in their region.

Select Recent Private Equity Transactions in the Orthopedic Space

DateTargetPlatformPE SponsorState
March 2021Jackson Anesthesia Pain CenterUS Orthopaedic PartnersFFL PartnersMississippi
March 2021Oxford OrthopaedicsUS Orthopaedic PartnersFFL PartnersMississippi
February 2021Orthopaedic Associates of ManhassetSpire Orthopedic CareKohlberg & CompanyNew York
January 2021Bluegrass OrthopedicsBluegrass OrthopedicsTrivest PartnersKentucky
January 2021Center for Bone & Joint Surgery of the Palm BeachesHOPcoLinden CapitalFlorida
December 2020US Orthopedic AllianceUSOA Orthopedic AllianceCastleford CapitalCalifornia
September 2020Mississippi Sports MedicineUS Orthopedic PartnersFFL PartnersMississippi
August 2020OrthoCincyOrthoAllianceRevelstoke CapitalOhio
August 2020Reconstructive Orthopaedics & Sports MedicineOrthoAllianceRevelstoke CapitalOhio
February 2020Tallahassee Orthopedic & Sports Physical TherapyConfluent HealthPartners GroupTennessee
January 2020Precision Orthopedics & Sports MedicinePrecision Orthopedics & Sports MedicineCobepaMaryland
December 2019Florida Spine and PainOrthopedic Care PartnersVarsity HealthcareFlorida
November 2019The Steadman ClinicOrthopedic Care PartnersVarsity HealthcareColorado
October 2019South Island OrthopedicsHealth Plus ManagementInvestcorpNew York
July 2019Beacon Orthopaedics & Sports MedicineBeacon Orthopaedics & Sports MedicineRevelstoke Capital PartnersOhio
July 2019Southeast Orthopedic SpecialistsHOPCoFrazier HealthcareFlorida
July 2019Orthopedic and Sports Therapy InstituteCora Physical TherapyGryphon InvestorsIllinois
July 2019Orthopaedic & Neurosurgery SpecialistsSpire Orthopedic PartnersKohlberg & CompanyConnecticut
May 2019Citrus Orthopaedic & Joint InstituteOrthopedic Care PartnersVarsity HealthcareFlorida
May 2019Ocala Orthopedic CareOrthopedic Care PartnersVarsity HealthcareFlorida
May 2019James B. Duke, M.D.Orthopedic Care PartnersVarsity HealthcareFlorida
December 2018Florida Spine and Joint InstituteFlorida Spine and Joint InstituteTrive CapitalFlorida
November 2018Precision Spine CareRoseland ManagementBow River CapitalTexas
August 2018OrthoBethesdaOrthoBethesdaAtlantic Street CapitalMaryland
November 2017The Orthopaedic InstituteOrthopedic Care PartnersVarsity HealthcareFlorida

With new platforms being announced each quarter, PGP expects to see an uptick in add-on transactions throughout 2021 as existing groups look to increase local density and expand into new geographies.

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.

Discuss Orthopedics Market Activity With Our Team: