PGP advises Orthopaedic Specialists of Austin in transaction with Growth Ortho
CHICAGO, June 20, 2022 — Physician Growth Partners (“PGP”) is pleased to have advised Orthopaedic Specialists of Austin (“OSA”), in its recent transaction with Growth Ortho, a private equity backed orthopaedic platform and portfolio company of Florida-based Trivest Partners. This represents Growth Ortho’s first major partnership since inception and will serve as its entry point into the Texas market.
OSA is led by seven shareholders and a veteran practice administrator who have developed since 2004 the premier, sub-specialty-focused orthopaedic practice in the Austin area. Their nationally recognized provider base has built a reputation for delivering the highest level of specialized care and taking on the most complex orthopaedic cases. Their consistent focus on clinical excellence and market leading outcomes is supplemented by an operational foundation that has OSA poised for continued, sustainable growth.
Trivest is seeking to build upon the foundation laid by the OSA team through recruitment, geographic expansion, and seeking out acquisition opportunities throughout Texas.
PGP served as the exclusive transaction advisor to Orthopaedic Specialists of Austin throughout the transaction process – this included developing a clear and complete picture of OSA’s finances and operations, creating a marketing package to highlight its value and promote the practice to potential buyers, as well as negotiating a final deal.
Dr. Edward Seade of OSA’s leadership team noted, “When we started the process of evaluating whether private equity was right for us or not, I realized very quickly that I knew orthopaedic surgery, but I did not know anything about the PE universe and running a transaction process. PGP was able to not only fill the gap in expertise my partners and I had but ran a process that concluded in a truly terrific outcome with Growth Ortho and Trivest. They were instrumental in helping us navigate the entre process from start to close. We are extremely satisfied with our new partnership and thank PGP for the outstanding guidance and leadership needed to make it happen.”
Michael Kroin, Managing Partner at Physician Growth Partners, added, “It was an honor representing the OSA shareholder team in their transaction with Growth Ortho. Our initial discussions with the practice left us immediately impressed with the clinical acumen of the OSA physicians and the culture they had built within their practice. We knew those attractive qualities, combined with the youth of their shareholder team and an appetite for continued growth, would drive substantial interest from the market. After evaluating multiple options, it was clear that the Growth Ortho team presented OSA exactly what they were looking for – the opportunity to maintain clinical autonomy, expand their ability to care for the greater Austin community, and participate in the development of the premier orthopaedic platform in the U.S. PGP is extremely pleased with the result and looks forward to seeing this partnership flourish for years to come.”
About Physician Growth Partners
Physician Growth Partners is one of the most active national healthcare advisory firms dedicated to representing physician platforms in transactions with private equity. PGP creates value by providing operational support, strategic positioning, and transaction advisory, delivering an optimal outcome for its clients.