Becker's ASC Review

33 ORTHOPEDICS PE firm invests in The Steadman Clinic after new affiliation: 5 key points By Laura Dyrda The Steadman Clinic partnered with a private equity-backed orthope- dic practice company. The Vail, Colo.-based practice is renowned for treating professional athletes and Olympians. Founded by Richard Steadman, MD, the practice operates out of three locations and includes the Steadman Philippon Research Institute. Five key notes: 1. The Steadman Clinic formed a strategic affiliation with Orthopedic Care Partners, which is the holding company for The Orthopaedic Institute and four other practices. 2. The Steadman Clinic will retain its name post-affiliation and will operate under its own brand. Marc Philippon, MD, will continue to lead the practice. 3. Dr. Philippon believes that the affiliation will allow the practice to execute on its growth plans swiftly. "After considering a number of different alternatives, it was clear to us that OCP not only shares our values, but also has the expertise and network to help us grow while maintaining our commitment to providing state-of-the-art patient- centric care," he said. 4. Private equity firm Varsity Healthcare Partners backs OCP. VHP fo- cuses on lower middle-market healthcare services. Sheppard, Mullin, Richter & Hampton were legal advisors to OCP and VHP. 5. VHP invested additional equity in the practices as a result of the partnership and Dr. Philippon and his partners have become signifi- cant shareholders in OCP. n ACGME revokes DMC's neurosurgery residency accreditation: A timeline of events so far By Alan Condon D etroit Medical Center could lose its neurosurgery residency program aer the Accreditation Council of Graduate Medical Education decided to withdraw its certification, effective June 30, 2020. Here's a timeline of events so far: 1. e decision to remove the accreditation came aer a September ACGME inspection prompted by a letter of complaint from two anonymous physicians at the hospital. 2. e letter to ACGME alleged that residents "were bullied, forced to work excessive hours and discouraged from reporting safety con- cerns," according to e Detroit News. 3. ACGME sent the letter to the hospital's Graduate Medical Education institutional officer, Mark Juzych, MD, and neurological surgery program director at the time, Murali Guthikonda, MD, in July and requested a response to the allegations. 4. Dr. Guthikonda, who remains the hospi- tal's chief of neurosurgery, told e Detroit News the charges that caused the program to lose its accreditation are inaccurate. 5. He dismissed the accusations as "taken completely out of context … or blatant lies" and labeled them "an appalling, dishearten- ing character assassination." 6. Aer initially deciding to let the neurosur- gery residency program close, Tony Tedeschi, MD, then-CEO at DMC, said it would appeal the decision to try to maintain the program. If the appeal fails, the hospital intends to reapply and re-establish the program. 7. e program, in conjunction with Wayne State University School of Medicine in De- troit, includes 14 neurosurgery residents and is now under new leadership. n Rothman, Carrum Health partner to expand healthcare benefits into tri-state area By Alan Condon C arrum Health in San Francisco recently partnered with Philadelphia-based Rothman Orthopaedic Institute as its newest center of excellence. Founded in 2014, Carrum Health is a cloud- based platform that connects employers and employees with centers of excellence for surgical procedures including spine and orthopedics. The partnership aims to facilitate self-insured employers in New York, New Jersey and Pennsylvania to provide quality and affordable healthcare benefits to employees and their dependents. Approximately 100,000 members in the tri- state area will have access to Rothman provid- ers within a two-hour drive. Rothman features almost 40 office locations and 58 surgical centers in the tri-state area. n

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