Fulcrum Equity Partners Announces the Sale of Summit Spine and Joint Centers
Fulcrum has recapitalized Summit Spine and Joint Centers with MSouth Equity Partners.
ATLANTA, June 24, 2021 /PRNewswire-PRWeb/ -- Fulcrum Equity Partners ("Fulcrum") has sold one of its portfolio companies, Summit Spine and Joint Centers ("Summit Spine" or the "Company"), to MSouth Equity Partners ("MSouth"). Founded in 2014 and based in Atlanta, GA, Summit Spine operates 17 clinics and 9 ambulatory surgery centers across Metro Atlanta and surrounding areas.
As part of the recapitalization, Fulcrum re-invested alongside MSouth to support de novo and strategic acquisitive growth, and expansion into contiguous states and markets.
Summit Spine delivers high-touch practice management solutions while supporting clinical autonomy to help physicians deliver the highest level of care across the practice lifecycle and focus on the unique needs of their patients.
Since Fulcrum's investment in 2018, Summit Spine experienced significant growth driven by (i) investment in the team and infrastructure, (ii) development and execution of a de novo growth playbook, (iii) operational initiatives and improvements across the platform, and (iv) rollout of ancillary services to expand the continuum of care. In partnership with Fulcrum, the management team executed a hub and spoke market development strategy and has built a network of centers that focus on providing care to patients suffering from chronic and acute pain. In collaboration with its physicians, mid-level providers, and non-provider support staff, management will continue to differentiate and expand the Company by:
- Delivering individualized and coordinated care of the highest quality to its patients;
- Recruiting, developing, and retaining providers, executives, and supporting personnel;
- Partnering with physicians who share its patient-focused values and dedication to operational and clinical excellence.
Commenting on the exit and new partnership, Vincent Tirri, CFO at Summit Spine states "It took a team to get here and that team absolutely includes Fulcrum. I, along with the rest of Summit Spine, am excited for this next chapter and grateful for the opportunity. Our resilience throughout 2020 was remarkable; a direct result of the entire Summit Spine family staying true to our core values and focused on our strategic vision - I'm so proud of our team."
"It has been a pleasure working with the team at Summit Spine. Their growth is a testament to their ability to fill the care gap for patients suffering with chronic pain," says Fulcrum Partner Tom Greer. "We are excited to partner with MSouth to continue that growth into its next stages."
"We are grateful to the team at Fulcrum Equity Partners for their guidance and relationships they have brought to the table," says Summit Spine CEO & Founder Dr. Patel. "We look forward to our next phase of growth with the experienced team at MSouth and continued support from Fulcrum."
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $600 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum's initial target investment is $5 million - $25 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity, and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum's target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum's limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.
Media Contact
Peter Franconi, Fulcrum Equity Partners, +1 (770) 551-6300, [email protected]
SOURCE Fulcrum Equity Partners
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