Thurston Group ("Thurston"), a private equity firm focused on investments in healthcare services companies, along with FFL Partners ("FFL"), a San Francisco-based private equity firm announced that they have formed a new orthopedic management services organization, U.S. Orthopedic Partners ("USOP" or "the Company"). USOP is anchored by Mississippi Sports Medicine ("MSMOC") a nationally recognized orthopedic care provider. Financial terms of the private transaction were not disclosed.
USOP is a full-service, integrated orthopedic care platform that provides the full continuum of musculoskeletal treatment to patients in the Southeastern U.S. Supported by MSMOC's diversified orthopedic sub-specialties, state-of-the-art ambulatory surgery center, fellowship training programs and comprehensive suite of ancillary services USOP will be a complete provider for patients who are seeking high quality, value-based surgical care.
"The Thurston Group is honored to partner with MSMOC and FFL in forming USOP. USOP will be the dominate regional provider in the Southeast delivering quality care to its patients and simultaneously bringing efficiencies to the payors. Their approach to a full suite of services creates the template for the future of orthopedic care," said Patrick J. Haynes III Founder and Chairman of the Thurston Group.
MSMOC is a leading orthopedic care provider in Mississippi, led by 17 fellowship trained physicians who perform over 10,000 surgeries annually. MSMOC recently opened, a state-of-the-art 60,000 sq ft ambulatory surgical center that was awarded the Blue Distinction Center designation by Blue Cross Blue Shield, making it the only center in the Southeast U.S. with the honor.
"We chose to partner with Thurston given their extensive history of building leading physician-centric practice management businesses and their commitment to a partnership approach," said Dr. James Woodall, Jr., a spine specialist at MSMOC. "Partnering to form USOP presents an opportunity for MSMOC to build upon the strong foundation and drive growth both organically and through acquisitions. This transaction will allow us to expand our presence within the Southeast and positively impact the lives of more patients."
The demand for orthopedic treatment is continuing to increase nationwide, with inpatient and outpatient surgeries generating $110 billion in revenue annually. At the same time, many physicians are experiencing increased financial pressures in the current healthcare environment.
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