Issue link: https://beckershealthcare.uberflip.com/i/1164972
45 PRACTICE MANAGEMENT PE firm invests in Connecticut orthopedic, spine practice: 5 details By Laura Dyrda N ew York-based private equity firm Kohlberg & Company invested in Greenwich, Conn.-based Orthopae- dic Neurosurgery Specialists, a three-location multispecialty group. Five things to know: 1. Kohlberg made a growth capital investment in ONS so the practice could continue expand- ing its clinical offerings and ancillary services. e practice currently includes orthopedics, sports medicine, joint replacement and physiat- ry as well as physical therapy and MRI. 2. ONS physician owners also operate an ASC and urgent care center. e group plans to continue growth regionally. "Kohlberg brings extensive industry experience and financial re- sources with a proven track record of investing in leading healthcare services companies," said Mark Camel, MD, co-founder of ONS. "We be- lieve Kohlberg will be the ideal partner to help implement our plan for strategic growth and to expand our clinical model to better serve our patients today and going forward." 3. e terms of the investment were not dis- closed. Lazard Middle Market was the financial advisor and Kattan Muchin Rosenman was legal counsel to ONS. Kolberg's financial advi- sor was Houlihan Lokey and legal counsel was Ropes & Gray. 4. Since its launch in 1987, Kohlberg has orga- nized eight private equity funds that raised $7.5 billion of committed equity capital. It has com- pleted 76 platform investments as well as 200 add-on acquisitions for a transactional value of $15 billion. 5. Private equity firms have been getting into or- thopedics, although primarily on the technolo- gy side. Varsity Healthcare Partners has invested in Gainesville, Fla.-based e Orthopedic Insti- tute, Frazier Healthcare Partners and Princeton Ventures invested in the Healthcare Outcomes Performance Company — the parent compa- ny of e Core Institute — and Candescent Partners acquired Mount Pleasant, S.C.-based Southeastern Spine Institute. n Orthopedic practice partners with HOPCo to establish new Florida care network By Alan Condon J acksonville, Fla.-based Southeast Orthopedic Specialists and Phoe- nix-based Healthcare Outcomes Performance Company partnered to form HOPCo Southeast Specialty Care Network. HOPCo SSCN focuses on musculoskeletal management services and seeks to partner with other orthopedic practices, health systems and payers in Florida. The new partnership will include Southeast Orthopedic Specialists' 13 board-certified orthopedic surgeons as well as its sports medicine phys- iatrist, pain management physiatrist and chiropractor, among the other specialists in the group. The practice provides joint replacements, spine care, emergency orthopedics and regenerative medicine. HOPCo SSCN incorporates HOPCo's quality outcomes tracking analyt- ics and software, claims analytics and value-based resources which will help partnering healthcare organizations with cost savings. "The HOPCo Southeast Specialty Care Network will provide high-quality healthcare organizations in the region with the opportunity to rapidly participate in unique value-based care programs in an integrated man- ner; something that will be very popular in the relatively fragmented Florida market," said Donnie Romine, CEO of SOS, who will serve as president of HOPCo SSCN. n Rush names orthopedic building after longtime Rush physician and his wife — 4 insights By Eric Oliver C hicago-based Rush Uni- versity Medical Center renamed its orthopedic building the Sofija and Jorge O. Galante Orthopedic Building. What you should know: 1. The university dedicated the or- thopedic building Aug. 9. 2. The late Jorge Galante, MD, joined Rush in 1972, eventually serving as the first chairman of the orthopedic surgery department. 3. Dr. Galante made several signif- icant contributions to joint surgery during his career. He notably es- tablished the Joan and Paul Rub- schlager Motion Analysis Labora- tory and developed a cementless alternative to joint replacement. 4. Dr. Galante married Sofija in 1963, and they remained together until her death in 2010. Ms. Galan- te was as committed to Rush as her husband, creating a support network for the surgeons. "The naming and dedication of Rush's Orthopedic Building in honor of both my parents is in- credibly meaningful to me and my entire family," said Charles Galante, the couple's son. "My fa- ther's life's work was enabled by Rush and, while his legacy and the institution of Rush will forever be linked, seeing their names on the building memorializes that link in a wonderfully powerful way." n