Majority physician-owned platform adds executive expertise with seasoned financial leader
GREENWICH, Conn. (Oct. 4, 2022) – Spire Orthopedic Partners, the leading management services organization serving best-in-class orthopedic and spine surgeons, has hired Patrick Seiler, a seasoned and respected financial executive, as the company’s Chief Financial Officer.
“Spire’s physician partners and our growing, multi-state network of practices will benefit from Patrick’s practice management experience and intricate understanding of private equity’s evolving role in the healthcare landscape,” said Bob Cucuel, Executive Chairman of Spire. “Patrick’s proven leadership in healthcare, private equity, and M&A transactions, combined with his collaborative ability to establish scalable, data-driven financial functions, will further enable Spire to guide and equip market-leading orthopedic and spine surgeons in growing their practices while maintaining a position of financial strength amidst a dynamic landscape.”
Most recently, Seiler served as Chief Financial Officer for ResotrixHealth, an advanced wound healing provider with over 250 care centers and operations in all 50 states, where he elevated the company’s finance and accounting functions and guided them through expansive acquisitional decisions. He successfully piloted two recapitalizations with large private equity firms in 2015 and 2021, resulting in multiples of 12x-14x EBITDA, and led their merger with the largest provider of wound dressings to post-acute care settings, making RestorixHealth the nation’s premier wound management company.
“I was drawn to Spire’s commitment to advancing physician-led care by partnering with and empowering the nation’s best orthopedic and spine surgeons,” said Patrick Seiler, CFO of Spire. “As healthcare becomes increasingly complex and competitive, especially from a financial perspective, physicians and their teams need access to top-tier management services in order to remain independent and succeed in placing physicians and patients at the center of care. I’m proud to be in a position to assist in both offering and shaping those services as a member of the Spire team.”
Prior to his CFO role for RestorixHealth, Seiler served in the same role for Focus Ventures LLC and TransCare, both of which experienced significant growth and acquisitional changes under his leadership. Seiler also served in senior financial roles for multi-industry companies such as Servador, Inc. and Mondera.
Seiler’s addition reflects Spire’s continued evolution and comes shortly after the company announced its fourth new practice partnership in the past six months with Peabody, Mass.-based Sports Medicine North. Spire’s rapid and ongoing expansion has been propelled by its physician-centric culture, as well as its focus on building a network of leading orthopedic and spine practices in and beyond New York, Connecticut and Massachusetts. With Orthopaedic & Neurosurgery Specialists (ONS) as the founding practice, the company has added Orthopaedic Associates of Manhasset, Orthopedic Associates of Middletown, Connecticut Neck & Back Specialists, Middlesex Orthopedic Surgeons and Orthopaedic Surgical Associates since launching in February of 2021. In addition to these partnerships, there are more growth opportunities in the pipeline for 2022.
About Spire Orthopedic Partners
Spire Orthopedic Partners is a growing national partnership of orthopedic practices that provides the support, capital and operational resources physicians need to grow thriving practices for the future. As a management services organization, Spire provides the infrastructure for administrative operations that allows practices to operate at their highest level, so physicians can focus their efforts on what matters most – patient care. Rooted in the 100-plus-year legacy of its founding partners, the network spans the Northeast with more than 100 physicians, 1000 employees and 23 locations in Connecticut, New York and Massachusetts. For more information, visit spireortho.com.