New Harbor sells KureSmart to Clearway Pain Solutions

Clearway Pain Solutions, a portfolio company of NexPhase Capital, has acquired KureSmart Pain Management from New Harbor Capital. No financial terms were disclosed. Headquartered in Annapolis, Maryland, KureSmart Pain Management provides comprehensive support services to pain management physicians.

PRESS RELEASE

(September 16, 2019) – Chicago, Illinois – New Harbor Capital is pleased to announce the sale of KureSmart Pain Management to Clearway Pain Solutions / NexPhase Capital.

Headquartered in Annapolis, Maryland, KureSmart Pain Management provides comprehensive support services, including administrative support and operations management to pain management physicians. The company’s affiliated medical providers provide pain treatment solutions through advanced, minimally-invasive interventional procedures. For additional information, visit www.kuresmart.com

KureSmart achieved significant growth during New Harbor’s investment. The company more than quadrupled in size through add-on acquisitions, de novo site openings and through the introduction of new service lines.

“New Harbor’s extensive experience with physician services businesses played a critical role in the success of our expansion strategy over the past four years,” said Dr. Damean Freas, CEO of KureSmart Pain Management. “Thanks to their knowledge, guidance, and expertise, we are now well positioned as a recognized industry leader and poised for growth as we move into the next step of our development in partnership with Clearway Pain Solutions / NexPhase Capital.”

“We sincerely enjoyed working with Damean and the entire KureSmart leadership team over the last four years,” said Ed Lhee, Partner at New Harbor. “We greatly valued our partnership, shared mission and teamwork. It has been a privilege supporting the company during this exciting growth phase and we wish them great success moving forward.”

Houlihan Lokey represented KureSmart Pain Management for the transaction and McDermott Will & Emery, LLP provided legal counsel.