ASC-backed OrthoBethesda acquires WOSM

OrthoBethesda, which is backed by Atlantic Street Capital, has acquired Washington Orthopaedics and Sports Medicine, a provider of orthopedic medical and surgical care.

OrthoBethesda, which is backed by Atlantic Street Capital, has acquired Washington Orthopaedics and Sports Medicine, a provider of orthopedic medical and surgical care. No financial terms were disclosed.

PRESS RELEASE

BETHESDA, MD, January 10, 2022 – OrthoBethesda, a physician-led and majority physician-owned provider of orthopedic services in the greater Washington, DC region and a portfolio company of Atlantic Street Capital (ASC), today announced a partnership with Washington Orthopaedics and Sports Medicine (WOSM). The combination creates the leading orthopedic care services provider in the region with 27 world class orthopedists.

Emil Engels, MD, Chief Executive Officer of OrthoBethesda, commented, “I am thrilled to partner with a group of like-minded surgeons who is as committed to their patients and practice as we are. Their relentless work ethic, reputation, and demonstrable value proven by results sets WOSM apart. The OrthoBethesda team has known and respected the highly skilled and talented team at WOSM for years, and we greatly admire what they have achieved. Our partnership with WOSM provides scale to invest in practices in this and other mid-Atlantic markets in 2022, and further solidifies our position as the top provider network in the region.”

Dr. Sridhar Durbhakula and Dr. Christopher Cannova, Co-Chairs of OrthoBethesda’s clinical governance committee, said, “All of us at OrthoBethesda respect the physician-led organization that WOSM has built over more than three decades. The partnership will help further our quality of patient outcomes, coordinated care protocols, and value-based contracts.”

Andy Wilkins, Co-Chief Executive Officer of Atlantic Street Capital, and George Parry, Partner at Atlantic Street Capital, which invested in OrthoBethesda in 2018, said, “Our partnership with the orthopedic surgeons at OrthoBethesda has helped them extend the excellent care they provide to a more robust and expanded geography and population. We plan to further invest in OrthoBethesda by partnering with high quality practices to drive continued growth, enter new geographies, and positively influence orthopedic care in the region”

Dr. Ed Magur and Dr. Stu Melvin, WOSM partners and members of the Board, stated, “OrthoBethesda’s culture and track record make them a perfect fit for what we have built at WOSM. Combining practices offers expanded coverage in the DMV region and provides physician diversification and opportunity for organic growth. We look forward to growing and enhancing our business, while continuing to provide an amazing work environment and the highest quality care for our patients.”

About WOSM
WOSM has provided the highest quality of orthopedic medical and surgical care in the Washington Metropolitan Area for over 35 years. The physician-led practice is comprised of 12 nationally recognized board-certified and fellowship-trained orthopedic surgeons. The level of training, education, and experience of WOSM’s team has led to recognition as a trusted center of care for professional and Olympic athletes and leadership positions in international orthopedic and sports medicine societies, as well as at local hospitals and centers of orthopedic care. WOSM provides patient care across three clinic locations in Washington D.C. and Maryland. For more information, visit www.wosm.com.

About OrthoBethesda
Founded in 1965, OrthoBethesda is a leading provider of comprehensive musculoskeletal care to patients in the greater Washington, DC market. OrthoBethesda employs 15 board-certified orthopedic surgeons with specializations across the spectrum of musculoskeletal care. OrthoBethesda provides patient care at three clinic locations as well as an affiliated surgery center and affiliated ortho-specific urgent care center. For more information, visit www.orthobethesda.com.

About Atlantic Street Capital
ASC is a private equity firm that invests in lower middle market companies poised for the next level of growth. The firm targets entrepreneurial management partners and fundamentally sound companies between $4 million and $25 million of EBITDA that will benefit from capital investment and ASC’s value-added strategic and operational support. As a result, ASC works closely with management to unlock their business’ underlying value and help them succeed. For more information, visit www.atlanticstreetcapital.com.