Beacon is the only independent group in the region that offers orthopeadic services by leading physicians across all major sub-specialties as well as a full complement of ancillary services including physical therapy, orthopeadic urgent care, X-ray / imaging, durable medical equipment, athletic training and ambulatory surgery. Beacon providers perform these services across eight clinics and two ambulatory surgical centers.
Beacon’s physician shareholders will retain ownership through the MSO and, along with the over 550 existing employees, will continue in their current roles.
“This transaction is a continuation of our multi-year outbound search effort to partner with leading physician practices in specialties that are well-positioned for growth and consolidation. Beacon’s physicians are leaders in the industry and, in collaboration with its talented management team, Beacon has developed the infrastructure and capabilities to provide patients and payors with exceptional and cost-efficient medical care and services,” said Andrew Welch, Managing Director at Revelstoke.
“Our interest in orthopaedics is driven by both industry fragmentation and the opportunity to provide quality outcomes and value to patients and payors in such a large segment of the healthcare industry. We anticipate consolidation in this sector to accelerate and are actively seeking additional partnerships with other leading orthopeadic groups to expand the MSO’s reach and capabilities,” said Anthony Hayes, Vice President at Revelstoke.
“Over the last three decades, Beacon Orthopaedics has been growing as a world-class center of orthopaedic and sports medicine care, serving patients from the tri-state and beyond,” said Andy Blankemeyer, Chief Executive Officer of Beacon. “We are launching an MSO to leverage our expertise and patient-centric care model to become one of the nation’s premiere orthopaedic management companies. Our new company will allow more patients to receive highly advanced, affordable and accessible orthopaedic care throughout the region.”
McGuireWoods LLP acted as legal counsel to Revelstoke. Proskauer Rose LLP acted as legal counsel and Coker Capital Advisors acted as a financial advisor to Beacon.
Established in 1996, Beacon Orthopaedics & Sports Medicine has helped thousands of patients overcome injuries and improve their quality of life. Beacon Orthopaedics provides medical direction and coverage for over 30 local high schools, five college athletics programs, and professional teams including the Cincinnati Reds. With eight locations across Southwest Ohio, Northern Kentucky, and Southeastern Indiana, Beacon offers instant access to comprehensive orthopedic care, including sports medicine, physical therapy, athletic training, imaging services, regenerative medicine, as well as surgical procedures involving neck, spine, shoulder, elbow, hand, hip, knee, foot and ankle repair, reconstruction, and replacement.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy to build exceptional companies. Since the firm’s inception in mid-2013, Revelstoke has raised approximately $2.3 billion of equity and has completed 64 acquisitions, which includes 16 platform companies and 48 add-on acquisitions.