Transaction Transforms Spire into One of the Largest Orthopedic Platforms in the US
STAMFORD, Conn. (February 13, 2023) – Spire Orthopedic Partners, one of the nation’s largest management services organizations serving best-in-class orthopedic and spine surgeons, announced today a new partnership with Poughkeepsie, NY-based Orthopedic Associates of Dutchess County (OADC) and its affiliated ambulatory surgery center, The Surgery Center at Orthopedic Associates (SCOA). This partnership is reflective of Spire’s ongoing expansion and focus on market-leading orthopedic practices in primary markets across the Northeast. OADC and SCOA represent Spire’s first transactions of the new year and its third in the State of New York.
“Our partnership with Orthopedic Associates of Dutchess County is emblematic of our focus on building geographic concentration in our existing markets and our maniacal focus on quality care. We came to know the physicians of OADC through strong existing relationships between our current Spire affiliated physicians and the OADC physician team. As has always been the case in our physician-led organization, our existing physician partners have informed our roadmap for growth and new partnerships,” said Chris Fusco, CEO of Spire. “Spire looks forward to supporting the teams at OADC and SCOA to ensure they continue to thrive in today’s increasingly challenging private practice marketplace. We plan to support our new partners with access to meaningful growth capital and our best-in-class management services to take the business to the next level.”
Founded in 1975, OADC and its fellowship trained surgeons provide Hudson Valley communities with advanced, accessible and vertically integrated orthopedic care. With 24 sub-specialty trained physicians practicing across five clinical locations and a state-of-the-art ambulatory surgery center, OADC is the largest and most established practice in its markets. With the addition of OADC, the Spire network is comprised of 319 providers, including 128 physicians, 78 physician assistants and 113 physical therapists providing care across 28 clinical locations, nine MRI centers and three ambulatory surgery centers in three states. The resulting scale of the platform will allow Spire to deliver integrated care to even more patients across its existing markets and in the appropriate settings, enabling the organization to deliver value to payors and patients through creative value-based payment models, ensuring we remain on the right side of the cost curve.
“For nearly 50 years, Orthopedic Associates of Dutchess County has provided advanced, accessible and comprehensive orthopedic care to our neighbors and surrounding communities,” said Dr. William Colman, Managing Partner of OADC. “Spire and OADC share the belief that the best orthopedic care is delivered locally and that care decisions should be shaped by physicians. After getting to know the Spire team and being familiar with the respected practices that make up the Spire network today, it was clear that this relationship would position us to continue delivering high quality, local orthopedic care while expanding our footprint with the goal of delivering care to even more patients.”
Spire is a majority physician owned organization supported with the capital resources of 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 $13 billion of committed equity capital. Spire continues to seek 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 for our partner practices.
About Spire Orthopedic Partners
Spire Orthopedic Partners is a growing 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. The Spire network spans the Northeast with more than 1,100 employees, 128 physicians and 28 locations in Connecticut, New York and Massachusetts. For more information, visit https://spireortho.com/.