U.S. Oral Surgery Management (USOSM) has closed on a new round of funding – a $125 million credit expansion. This year, USOSM has had an incredible year of growth – adding $100 million in acquired revenue. This new round of financing will position USOSM for similar growth in 2023 and beyond. The funding is an expansion of USOSM's current credit facility with its existing lenders.
IRVING, Texas, Dec. 6, 2022 /PRNewswire-PRWeb/ -- U.S. Oral Surgery Management (USOSM) is heading into 2023 with an increased war chest of capital to fuel continued growth and expansion, despite great financial market uncertainty. The company has closed on a new round of funding – a $125 million credit expansion. USOSM has had an incredible year of growth in 2022 – adding $100 million in acquired revenue. This new round of financing will position USOSM for similar growth in 2023 and beyond.
"We're expanding our credit facility with our existing lenders. This additional capital will fund our continued growth in 2023 and carry us well into 2024," said USOSM President and CEO Richard Hall. "The credit markets are particularly difficult right now, given the state of the economy. Only companies with well-established track records and exceptional performance will have access to capital at reasonable terms. We're proud that USOSM's performance provided our lenders the confidence to expand their commitment. This additional dry powder and our track record of timely closings will give future partners confidence around certainty to close."
USOSM Chief Financial Officer Henry Moomaw added, "USOSM and our equity backer, Oak Hill Capital (OHC), began earnestly planning and pursuing a credit expansion this summer, despite capital market challenges. This exemplifies the level of confidence our lenders have in USOSM." OHC is a longstanding private equity firm focused on the North America middle-market.
Founded in November 2017, USOSM is a specialty management services company that exclusively serves premier oral and maxillofacial surgeons. The first company of its kind, USOSM continues to lead the industry today with more than 160 oral and maxillofacial surgery practice locations across 24 states.
USOSM has a 100% partner practice retention rate and nearly 50% of the company is owned by the oral surgeons themselves. In addition, USOSM partner practices consistently achieve a Net Promoter Score (NPS) ™ of 80 or above, a feat that's recognized as "world-class" by one of the ranking system's founders: Bain & Company.
"We're excited to continue to be recognized as a leader in this industry. Everything we do, we do with our surgeon partners and their patients in mind, and it shows. We continue to grow, despite increasing competition, the economic fallout from the COVID 19 pandemic, rising interest rates, and widespread macroeconomic volatility," noted Hall.
Hall added that another driving force behind USOSM's phenomenal growth is the quality of its surgeon partners. "We've always been highly selective about with whom we partner. Our partners are industry leaders. They are all board certified, highly trained, and highly skilled. They're also true partners – they all have an equity stake in USOSM and complete clinical autonomy."
Headquartered in Irving, Texas, USOSM has partner practices spanning 24 states. A shared services organization, USOSM collaborates with premier oral and maxillofacial surgeons to offer a partnership solution for continued and accelerated practice success. USOSM provides operational, marketing, and administrative support services, reinvests resources, and applies best practices to improve clinical and financial performance and produce steadier, more profitable growth for all. USOSM is backed by the private equity firm Oak Hill Capital, a longstanding private equity firm focused on the North America middle-market. For more information, visit https://www.usosm.com/.
Media Contact
Lyle Rountree, USOSM, 2142893799, [email protected]
SOURCE USOSM
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