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.
| 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 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.