NMS-backed USFAS acquires Virginia podiatry care practice LRFAC

U.S. Foot & Ankle Specialists, LLC, a portfolio company of NMS Capital, has acquired Lake Ridge and Stafford Foot and Ankle Centers, a Virginia-based provider of podiatry care.

U.S. Foot & Ankle Specialists, LLC, a portfolio company of NMS Capital, has acquired Lake Ridge and Stafford Foot and Ankle Centers, a Virginia-based provider of podiatry care. No financial terms were disclosed.

PRESS RELEASE

New York, NY, June 2, 2021 – U.S. Foot & Ankle Specialists, LLC (“USFAS”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired Lake Ridge and Stafford Foot and Ankle Centers (“LRFAC”). Dr. Douglas Stabile started LRFAC in 1990 and has expanded the practice to two locations in Lake Ridge and Stafford, VA.

“Dr. Stabile, Dr. Derner, and their colleagues have an outstanding reputation in the community and continue our mission of providing the best podiatry care available. This acquisition allows us to further expand our presence in the Northern Virginia market. With the support and resources of our partners at NMS, we believe that we can build USFAS into the provider of choice in the podiatric industry, providing our patients with the highest level of care,” said Cotton Hawes, Chief Executive Officer of USFAS.

Dr. Douglas Stabile commented, “We are excited to partner with USFAS, a leading podiatry platform with the vision and mission of providing the highest quality of care to patients. Our patients and practice will benefit tremendously from the added support and services that USFAS has to offer, and we look forward to this next chapter for our practice.”

“USFAS is known in the podiatric industry for their excellent patient care, organizational support, and team approach. We are thrilled to partner with USFAS and have the added benefits for our patients and staff”, said Dr. Richard Derner, DPM, Past President of ACFAS, and Program Director at Inova Fairfax Medical Campus.

As part of the affiliation, LRFAC 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 nearly 70 offices in 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.