Surgery Partners, Inc. & Growth Orthopedics Announce Strategic Partnership at Lakeway ASC
Partnership Focused on Enhancing Care Delivery and Accelerating Growth
LAKEWAY, Texas (March 15, 2023) - Surgery Partners and Growth Orthopedics (Growth Ortho) today announced a strategic partnership at Lakeway Ambulatory Surgery Center (ASC) in Lakeway, Texas that will expand access of high value orthopedic services for the region's physicians and patients. The partnership will leverage the collective strengths of Surgery Partners, the leading independent operator of ambulatory surgery centers, and Growth Ortho, which is a management services organization that partners with independent orthopedic practices. Growth Ortho was formed in partnership with Orthopaedic Specialists of Austin and Trivest Partners, a Miami-based private equity firm focused on founder and family-owned businesses, with the primary objective of providing support for independent orthopedic specialists.
"We are thrilled to be partnered with Growth Orthopedics and Orthopaedic Specialists of Austin," said Surgery Partners CEO Eric Evans. "Similar to Growth Ortho, Surgery Partners is deeply committed to providing quality and compassionate care to meet the needs of our patients, colleagues, and physician partners in the communities we serve. Growth Ortho's suite of managed services to support, invest, and grow alongside independent orthopedic practices is squarely aligned with Surgery Partner's desire to partner with independent Orthopedic physicians seeking to optimize their ambulatory surgical services while retaining their independence."
Surgery Partners will implement their leading ambulatory surgery center operating model in partnership with the surgical expertise of the Orthopaedic Specialists of Austin (OSA). This partnership further emphasizes Growth Ortho's mission to strengthen private practice and keep healthcare local. The partnership's continued investment in the Austin region will support the growing demand for cost-effective, patient-focused orthopedic care. This dynamic collaboration provides both companies with a partnership that is unique to the industry.
"The continuum of care for our orthopedic patients relies on the expertise and quality of our complete cycle of care," said Pete McCann, CEO of Growth Orthopedics. "Orthopedic Specialists of Austin's quality starts with our renowned surgeons, assisted by our caring and expert clinical staff, and completed by the best outpatient surgical facilities in Austin. It is our pleasure to announce that OSA and Growth Orthopedics have partnered with Surgery Partners in the Lakeway Surgery Center. The center will allow OSA to deliver outstanding patient care from initial appointment to surgery."
Growth Ortho is actively seeking to partner with progressive orthopedic provider groups interested in creating regional centers of excellence. If you are aware of orthopedic physician practices that are looking for a financial and strategic partner to enable future growth, please contact us.
McDermott Will & Emery acted as legal counsel for Surgery Partners and McGuireWoods LLP acted as legal counsel to Growth Orthopedics.
ABOUT SURGERY PARTNERS
Headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high-quality, cost-effective solutions for surgical care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with more than 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities. For additional information, visit www.surgerypartners.com.
ABOUT GROWTH ORTHOPEDICS
Growth Orthopedics is a managed service organization that partners with independent orthopedic offices while ensuring their individual autonomy. Growth Ortho's mission is to be the partner of choice for best-in-class orthopedic groups throughout the United States by delivering a "Physician First" focus that ensures the long-term success and health of the groups that join the Growth Orthopedics platform. For additional information, visit www.growthortho.com.
ABOUT TRIVEST PARTNERS
Headquartered in Coral Gables, Florida with offices in Los Angeles, Philadelphia, Chicago, and Toronto, Trivest is the oldest private investment firm in the Southeastern United States. The firm is focused exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 400 investments, totaling over $7 billion in value. Trivest is one of only 15 firms recognized by Inc. Magazine as one of the top founder-friendly private equity firms in three consecutive years. For additional information, visit www.trivest.com.
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