Majority Physician-Owned Platform Accelerates Expansion
GREENWICH, Conn. (April 5, 2022) – Spire Orthopedic Partners, the nation’s leading management services organization focused on orthopedic and spine care, announced today a new partnership with Peabody, Mass.-based Sports Medicine North (SMN) and its affiliated Orthopedic Surgical Center of the North Shore. The transactions, together with Spire’s existing practices in the Greater Boston area serve as a platform to increase access to best-in-class orthopedic and spine care in New England.
This partnership is Spire’s fourth in the past six months and its second in the state of Massachusetts. These partnerships and Spire’s rapid expansion are propelled by Spire’s physician-centric culture, as well as its focus on building a network of practices connecting the New York metropolitan area with New England’s major market, Greater Boston.
“We are privileged to partner with the esteemed physicians at Sports Medicine North,” says Timothy Corvino, M.D., Chief Executive Officer of Spire. “We were introduced to Sports Medicine North by trusted Spire network physicians leveraging longstanding relationships with like-minded surgeons. We are continuing to build a national network of market-leading orthopedic and spine surgeons, and the team at Sports Medicine North exhibits the excellence in clinical care, innovation and patient experience for which Spire practices are known. We look forward to collaborating with Sports Medicine North to advance our mission in the evolving orthopedic landscape.”
Founded in 1994, SMN offers comprehensive orthopedic and spine care by fellowship trained surgeons. The practice is one of the most trusted in the region by patients, health system partners and peers. SMN is comprised of 20 physicians, 24 advance practice providers and 160 non-clinical team members. Between its three clinics, ambulatory surgery center and MRI center, the practice completed 110,000 office visits, 60,000 physical therapy visits and 7,200 surgeries in 2021.
“The physicians at Spire Orthopedic Partners and their commitment to excellence, a culture of collaboration and superior patient care attracted us to the organization,” says David J. Fehnel, M.D., an orthopedic surgeon with SMN. “Our goal and philosophy have remained the same since we started: offering exceptional patient care to North Shore communities so they can get back to their healthy, active lifestyles. By partnering with a physician-led organization like Spire, we can improve our ability to pursue this goal in new and innovative ways.”
Spire is backed by Kohlberg & Company, a leading private equity firm based in New York. Since its inception in 1987, Kohlberg has organized nine private equity funds, through which it has raised $12 billion of committed equity capital. Spire continues to explore potential partnership opportunities with like-minded, market-leading physician practices that share a passion for clinical quality, excellent patient care and an unwavering vision for the future. Spire has a strong foundation and meaningful capital resources to fuel future growth.