Transaction Represents the First Private Equity Exit in U.S. Podiatry
NEW YORK, Jan. 9, 2024 /PRNewswire-PRWeb/ -- Albaron Partners LP ("Albaron"), a middle market private equity firm, is pleased to announce that it has completed the sale of Albaron Podiatry Holdings LLC d/b/a Beyond Podiatry ("Beyond Podiatry"), the Midwest's leading podiatric medicine practice management company, to CUC Inc. (TSE: 9158), on January 5, 2024. The transaction values the business at $87 million and represents the first acquisition for CUC Inc. ("CUC") in the U.S. as well as the first private equity exit in U.S. podiatry.
"This is a transformational moment for Beyond Podiatry. We are thrilled for Dr. Stephen Frascone and his fellow physician shareholders, as well as John Moroney, President, and the entire Beyond Podiatry team." said Alessio Baraldi, Albaron Partners. "CUC is the perfect partner for the platform's next stage of growth, and we look forward to following Beyond Podiatry's continued success."
"I could not have wished for a better first partnership than what we built with Albaron," said Dr. Frascone, founder and Chief Medical Officer of Beyond Podiatry. "Their strategic direction, operational expertise and vision for growth is unparalleled in the healthcare middle market."
"We are excited to enter the U.S. podiatry market with Beyond Podiatry," said Keita Hamaguchi, Founder and CEO of CUC. "Albaron has built a scalable platform that will allow us to rapidly expand throughout the U.S. The team at Beyond Podiatry is a clear market leader and shares our vision for future growth."
About Beyond Podiatry
With over 200 employees across 30+ locations in the Midwest, Beyond Podiatry treats more than 250,000 patients per year for a variety of lower extremity conditions. Since its founding in 2018, Beyond Podiatry has consistently expanded its footprint through M&A and de novo clinic openings. Beyond Podiatry supports a team of 56 doctors who treat patients across Michigan, Illinois, Ohio, Kentucky, and Indiana. (https://beyond-podiatry.com)
CUC, Inc. (TSE: 9158) is a publicly traded Japanese company with operations in Asia.
CUC began its global expansion in 2019, mainly in Southeast Asia, with its mission of "Creating Hope through Healthcare". CUC formed CUC America Inc. in July 2023 to undertake market research and facilitate business development in the U.S.
With this acquisition, CUC's objective is to support the operational capabilities of Beyond Podiatry as a premier practice management platform by utilizing the expertise CUC has gained through its management support for medical institutions in Japan. Going forward, Beyond Podiatry will maintain its operations under the direction of its current management team alongside several directors from CUC.
CUC's publicly filed announcements regarding the transaction can be found at the following links:
About Albaron Partners
Founded in 2017, Albaron is an operationally focused middle market healthcare private equity firm. Albaron's dedicated team of healthcare investors and operators helps physician founders and management teams scale their businesses and grow leading platforms within their individual specialties. (https://albaronpartners.com)
SOURCE Albaron Partners