NexPhase Capital LP has acquired Pensacola, Florida-based Gulf Coast Pain Institute, a pain management practice. No financial terms were disclosed. Brown Gibbons Lang & Company was financial adviser to Gulf Coast Pain Institute on the transaction.
New York, NY – March 14, 2018: NexPhase Capital, LP (“NexPhase”) announced today the successful acquisition of Gulf Coast Pain Institute, headquartered in Pensacola, Florida, effective February 26, 2018. The agreement marks the launch of a new national interventional pain management platform named Clearway Pain Solutions Institute. Industry executives Deborah Origer and David Watson have joined the Clearway team as Chief Operating Officer and Chief Financial Officer, respectively.
Chronic pain in the United States is a significant public health problem afflicting over 110 million Americans, totaling more than diabetes, heart disease and cancer patients combined. On average, 36 million Americans miss work each year due to pain. Interventional Pain Management looks beyond medication to help patients relieve their pain by incorporating an array of therapies to help diagnose, reduce, and if possible, completely relieve the source of pain.
“Our vision is to create a leading national interventional pain management platform through a series of acquisitions and organic growth initiatives, starting with the acquisition of Gulf Coast Pain Institute and the creation of Clearway Pain Solutions Institute. Clearway will help more patients get on the road to recovery and renewal through an interdisciplinary approach to treating pain with proven pain management therapies.”
Deborah Origer brings a broad base of industry knowledge from a varied career in insurance, managed care, and provider organizations and has served in top executive and C.E.O. roles for Prudential, PacifiCare, Great West and Providence Health System. As an independent consultant, she has helped several private equity-funded organizations with strategy formulation, organizational development, and operational excellence. David Watson is a senior finance executive with a background in multi-site healthcare services, having served as C.F.O. for Correct Care Solutions, National Surgical Healthcare and Radiation Therapy Services. He brings experience in building infrastructure, scaling organizations for growth and accessing capital markets.
Jeff Buchalter, M.D., Chairman of Gulf Coast Pain Institute, added, “NexPhase is a proven partner to their portfolio companies, bringing an unparalleled level of healthcare sector and strategic management expertise to the table. With their guidance and support, we believe there is a substantial national market opportunity to bring our special brand of care and service to even more patients.”
Brown Gibbons Lang & Company served as the exclusive financial advisor to Gulf Coast Pain Institute.
About Gulf Coast Pain Institute
Founded in 2013 by Jeff Buchalter, M.D., David Fairleigh, M.D., and Mark Larkins, M.D., Gulf Coast Pain Institute is the premiere interventional pain management practice in northwest Florida. Gulf Coast Pain Institute provides a comprehensive suite of pain management and ancillary services including interventional and non-interventional procedures, physical therapy, chiropractic services, laboratory testing, durable medical equipment distribution, and pharmacy services. Gulf Coast Pain Institute’s provider staff includes seven pain management physicians, two chiropractic physicians, two physical therapists, three physician assistants, and five advanced registered nurse practitioners throughout its 11 locations.
About NexPhase Capital
NexPhase Capital is a sector-focused independent private equity firm that makes equity investments between $25 million and $75 million in lower middle market growth-oriented companies in the consumer, healthcare, industrial services and software sectors. The firm was formed by the former principals of Moelis Capital Partners (MCP) to execute, on an independent basis, the same sector-focused strategy of completing control investments in lower middle market companies to create value through dedicated operating resources, new sales channels and effective partnerships. Led by Co-Managing Partners Kurt Larsen and Ted Yun, NexPhase advises $1.2B of private equity capital, and maintains a strategic sub-advising relationship with Moelis Asset Management. For more information, please visit www.NexPhase.com.