PROSPIRA PAINCARE ANNOUNCES ACQUISITION OF ADVANCED INTERVENTIONAL PAIN CLINIC
Leading Pain Management Services Provider Deepens Commitment To Florida Communities
May 6, 2014
MOUNTAIN VIEW, CA – Prospira PainCare, Inc., the nation’s premier provider of multidisciplinary pain management and restorative healthcare services, today announced the acquisition of Advanced Interventional Pain Clinic (“AIPC”), a leading provider of pain management services in the Orlando, Florida metropolitan market.
“AIPC is a clinical leader in Central Florida. We believe that a partnership with Prospira will enable AIPC to broaden its continuum of care and further improve outcomes for patients with debilitating acute and chronic pain in the Orlando market,” said Dr. Barry Karlin, Chairman and CEO of Prospira PainCare. “We are pleased that AIPC has entrusted us with their practices and believe that the patient community will benefit from this partnership.”
AIPC’s three practice locations (Orlando, Longwood and Ocoee) connect Prospira’s existing Florida locations north and south of Orlando. AIPC’s centers are run by lead physician Dr. Padmaja Yatham, a highly-respected clinician and thought leader in pain management, who will continue to serve patients as part of the Prospira centers of excellence.
Dr. Yatham, said, “By joining with Prospira we now benefit from the experience of a highly respected management and medical team that has the professional and financial support to enable us to deliver a diverse set of treatment options that will improve the quality of our patients’ lives. Prospira PainCare and AIPC were both founded on the same mission and values centered on clinical excellence and because of that common tenant we felt that by joining Prospira PainCare, we would have a greater opportunity to expand our presence in and serve the Orlando metropolitan community.”
David Pegg, a Principal at Enhanced Equity Fund and member of Prospira’s Board of Directors, said, “We are very excited to welcome AIPC to the Prospira family of practices. The addition of AIPC to our existing Florida locations solidifies Prospira as the premier provider of pain management services in Central Florida. We continue to support the company and its management as it develops its clinics within existing markets, as well as new regions in which it enters. We are fortunate to have a robust pipeline of quality investment opportunities, and we remain excited about the company’s future potential.”
The acquisition of AIPC follows the recent acquisitions by Prospira PainCare of pain management and treatment centers in the northeast, southeast and western United States, including Neuro Pain Consultants, the largest group of pain management specialists in the Detroit metropolitan area, The Pain Management Center in southeast New Jersey and Philadelphia, The National Pain Institute located throughout Florida, The Spine Center of Southeast Georgia and The Bay Area Pain & Wellness Center serving the greater San Francisco area. Read more
About Enhanced Equity Funds
EEF is a private equity firm focused exclusively on investing in the healthcare industry. The firm’s collective industry expertise, relationships and investment strategy have facilitated the development of healthcare companies. EEF currently manages approximately $600 million of committed capital across two funds. For additional information on EEF, please visit www.enhancedequity.com.
About Prospira PainCare
Prospira PainCare is the nation’s premier provider of comprehensive, multidisciplinary pain management services. Through our partnerships with leading pain centers, physicians and rehabilitation specialists, Prospira PainCare delivers world-class treatment to restore the health and quality of life for those suffering from acute, chronic or intractable pain. Prospira PainCare is backed by private equity investors Enhanced Equity, Webster Capital and Pulse Equity.
To learn more about Prospira PainCare’s comprehensive, multidisciplinary pain management services, please visit www.prospirapaincare.com.