PE is an undeniable presence in healthcare and has an eye on orthopedics. Here are four other updates on private equity and orthopedics:
1. On Aug. 7, Watertown Regional partnered with Madison (Wis.)-based Orthopedic & Spine Centers of Wisconsin. In June, Watertown Regional partnered with giant Healthcare Outcomes Performance Co. Phoenix-based HOPCo is backed by Audux Group, Linden Capital Partners and Frazier Healthcare Partners.
2. Earlier this year, Fort Lauderdale, Fla.–based Orthopedic Care Partners affiliated with Palm Beach (Fla.) Hand to Shoulder. OCP also affiliated with The Orthopedic Partners in Park City, Utah. OCP is backed by Varsity Healthcare Partners.
3. Stamford, Conn.-based Spire Orthopedic Partners, backed by PE firm Kohlberg & Company, partnered with Providence-based Ortho Rhode Island and its ASC.
4. Private equity has also been in the headlines recently after a Florida orthopedic surgeon testified in front of Congress in July about his challenges getting a new job due to a restrictive non-compete agreement he signed as a part of a PE deal. The testimony was a part of several lawsuits filed in response to the Federal Trade Commission's issuance of a final ruling on non-compete bans in April.
5. According to a 2023 article by KFF Health News, patient spending is nearly $50 billion for back pain alone. PE has acquired orthopedic practices in at least 12 states, with concentrations in Georgia, Texas, Florida and Colorado.