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NMS-backed USFAS acquires Foot and Ankle Associates

U.S. Foot & Ankle Specialists LLC, a portfolio company of NMS Capital, has acquired Foot and Ankle Associates, a provider of podiatric care based in Pennsylvania and Delaware.

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

PRESS RELEASE

New York, NY, March 2 2022 – U.S. Foot & Ankle Specialists, LLC (“USFAS”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired Foot and Ankle Associates (the “Practice”), based in Pennsylvania and Delaware.

Foot and Ankle Associates operates four locations, serving patients throughout Chester and Delaware Counties in Pennsylvania—including Garnet Valley, Kennett Square, and West Grove—as well as in Newark, Delaware. The Practice is home to six Board Certified podiatrists with expertise spanning the gamut of foot of ankle care services, including plantar fasciitis, diabetic foot & wound care, toenail and skin conditions, foot and ankle injuries, custom orthotics & braces, and foot & ankle surgeries. Foot and Ankle Associates was founded in 1986 by Dr. David Guggenheim (who has since retired) and Dr. Albert Iannucci, who continues his practice today.

“The longevity of Foot and Ankle Associates and their continued commitment to innovation are exactly why we’re so pleased to welcome them into the USFAS family,” said Cotton Hawes, Chief Executive Officer at USFAS. “We’re gaining more than just another practice—we’re welcoming a group of extremely talented Board-Certified podiatrists who have a reputation for patient care excellence and the results that come with it. We couldn’t be more thrilled to begin this partnership.”

“For the last 35+ years, it’s been our absolute pleasure to serve patients throughout Pennsylvania and Delaware,” said Albert Iannucci, DPM, FACFAS, Foot and Ankle Associates. “We’re looking forward to continuing our role as foot and ankle specialists in the communities we serve, with new support from USFAS. This partnership will enable us to raise our caliber of service even further, so our practice can continue to provide patients the relief and results they seek when they come to us.”

With this partnership, Foot and Ankle Associates will benefit from USFAS’ extensive administrative and support services, which include top-of-the-line information technology, a dedicated clinical compliance team, electronic medical records, payor credentialing and contracting, revenue cycle management, human resources, finance and accounting, 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 nearly 90 offices in Maryland, Virginia, Pennsylvania, Delaware, North Carolina, West Virginia, Ohio, 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 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 Business Services. For additional information on NMS, please visit the firm’s website at www.nms-capital.com.