Becker's ASC Review

37 ORTHOPEDICS 5 interesting orthopedic practice M&As in 2020 By Alan Condon B ecker's Spine Review has reported on several orthopedic practice mergers and acquisitions, with some particu- larly interesting deals closing at the begin- ning and end of the year. Following is a breakdown of five of the most interesting transactions in 2020 and what they mean for the field: Editor's note: Transactions are listed in the order they were reported, beginning with the most recent. 1. Transaction: Nashville-based Tennessee Orthopaedic Alliance, Knoxville-based Ten- nessee Orthopaedic Clinics and Columbia- based Mid-Tennessee Bone & Joint Clinic agreed in August to merge into a single group. What it means: The practices became a combined 104-physician group with more than 27 locations in January. They will share clinical data, best practices and expertise. More than 800 employees will work across the new group, with each practice retaining its name and staff- ing levels. The merger could result in operational and clinical improvements and allows for additional innovation for cost-effective care. 2. Transaction: Fort Collins, Colo.-based Orthopaedic & Spine Center of the Rockies and Longmont, Colo.-based Front Range Orthopedics & Spine merged in October. What it means: e combined group, under the Orthopaedic & Spine Center of the Rockies umbrella, has three ASCs and more than 85 providers, including 45 physicians. e partnership includes full business and clinical integration and aims to improve value-based care initiatives in the region. 3. Transaction: Des Plaines-based Illinois Bone & Joint Institute embarked on an M&A spree this year, including a merger with Hinsdale (Ill.) Orthopaedic Associates. What it means: Consolidation was a big part of IBJI's expansion strategy in 2020. Hinsdale Orthopaedic Associates, a 31-physician group with eight locations, partnered with IBJI in April. e 100-plus physician group has acquired four ortho- pedic practices last year: Chicago-based Northwest Orthopaedics & Sports Medi- cine; Bradley, Ill.-based Oak Orthopedics; Chicago Orthopaedics & Sports Medicine; and Park Ridge, Ill.-based Orthopaedic Surgery Specialists. 4. Transaction: Tampa-based Florida Or- thopaedic Institute merged with Clearwater, Fla.-based OrthoCare Florida in March. What it means: e merged entity has become the biggest orthopedic group in Florida, with 150 providers and 17 locations across the Tampa Bay area. e group has eight affiliated ASCs and two orthopedic urgent care centers and aims to continue growth in the state. 5. Transaction: Orlando (Fla.) Health acquired Jewett Orthopaedic Clinic for an undisclosed sum in January. What it means: Jewett's 25 orthopedic physicians and 13 advanced practitioners became Orlando Health employees aer the deal closed. e health system is building a $250 million orthopedic facility, dubbed Orlando Health Jewett Orthopedic Hospital, that will feature 12 outpatient operating rooms and up to 75 beds. It is expected to open in 2023. n Florida orthopedic, spine practice settles suit against Geico By Angie Stewart A n orthopedic practice's lawsuit against Geico has been settled, according to documents filed Oct. 12 in the 11th Judicial Circuit of Florida in Miami- Dade County. Florida Spine and Joint Institute — rebranded as iRise Spine and Joint in January — filed a notice to voluntarily dismiss its April 2 complaint against Geico after the par- ties reached a confidential settlement. Geico and Florida Spine & Joint agreed to resolve all allegations brought forth in the litigation, including that Geico wrongfully denied numerous personal injury pro- tection claims and damaged the orthopedic practice's reputation by making "defamatory and false" accusations of fraud in letters to policyholders. As part of the settlement, the two parties streamlined the claims payment process for Florida Spine and Joint services provided to Geico customers and implemented a dispute resolution process to address disagreements that may arise. "For our patients and attorneys, this means an efficient payment method, expedited dispute resolutions handled quickly between Geico and iRise outside of the court- room, and a hassle-free process for our patients and attorneys," said FSJI CEO Ryan Fulcher. Geico also acknowledged that it has no reason to believe Florida Spine and Joint is in violation of the Florida Health Care Clinic Act or personal injury protection statutes. n

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