NMS-backed USFAS acquires Foot and Ankle Associates of Southwest Virginia

U.S. Foot & Ankle Specialists, LLC, a portfolio company of NMS Capital, has acquired Foot and Ankle Associates of Southwest Virginia, a podiatric care provider.

U.S. Foot & Ankle Specialists, LLC, a portfolio company of NMS Capital, has acquired Foot and Ankle Associates of Southwest Virginia, a podiatric care provider. No financial terms were disclosed.

PRESS RELEASE

New York, NY, January 1st, 2021 – U.S. Foot & Ankle Specialists, LLC (“USFAS”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired Foot and Ankle Associates of Southwest Virginia (“FAASV”). FAASV was opened in 2006 by Charles Zelen, DPM and has grown to 5 offices in the Southwest, VA area, located in Roanoke, Salem, Spartan, Martinsville, and Low Moor.

“We are thrilled to partner with Dr. Zelen and his team, who set an example for excellent patient-centered podiatric care. Foot and Ankle Specialists of Southwest Virginia has provided extraordinary care in the Southwest Virginia region for over 14 years. Our partnership with NMS provides us with the resources and tools to continue partnering with high-quality practices and providers as we execute our strategy of becoming the provider of choice in our industry,” said Brett Richey, Chief Executive Officer of USFAS.

Dr. Charles Zelen commented, “By joining USFAS, our patients will continue to receive high-quality treatment and personal podiatry care with the benefit of resources that USFAS has to offer. We are partnering with an organization dedicated to a shared vision and goal of patient-centered care using innovative technologies and treatment options to meet the Southwest Virginia community’s podiatry needs.”

As part of the affiliation, FAASV will benefit from USFAS’s extensive administrative and support services, including investments in clinical compliance, information technology, electronic medical records, revenue cycle management, payor credentialing and contracting, finance and accounting, human resources and business development.

About U.S. Foot & Ankle Specialists
USFAS is a leading provider of podiatric services providing a full range of specialty services for the advanced treatment of foot and lower extremity conditions. Headquartered in Rockville, Maryland, USFAS provides services through a growing network of 62 offices in states including Maryland, Virginia, Pennsylvania, North Carolina and Washington, D.C., and over 100 Board Certified and Board Qualified podiatrists. USFAS is an affiliate of Foot & Ankle Specialists of the Mid-Atlantic and NMS Capital, with plans to expand nationally. For additional information on USFAS, visit the company’s website at www.footandankle-usa.com

About NMS Capital
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The Firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Healthcare Services and Specialized Business Services. For additional information on NMS, visit the firm’s website at www.nms-capital.com