Implantable Provider Group, which specializes in cost-effective surgical solutions, has received a significant investment from TPG Growth. Deutsche Bank and TripleTree advised TPG Growth, while Citizens Capital Markets led a bank group that provided financing in support of this transaction.
ATLANTA, Georgia (April 20, 2021) – Implantable Provider Group, Inc. (“IPG” or the “Company”), a leading provider of surgical cost management solutions, today announced a significant investment from TPG Growth, the middle-market and growth equity platform of alternative asset firm TPG. TPG Growth will partner with IPG’s existing management team to invest behind its core value proposition, further support existing customer relationships, and expand into new geographies.
Partnering with health plans, device manufacturers, and surgical facilities nationwide, IPG offers high-quality, cost-effective surgical solutions, as well as increased transparency and alignment to stakeholders across the healthcare market. The IPG platform combines in-depth analytics and expertise in device cost management to enable cost effective site of care optimization and provide detailed surgical cost analytics for the delivery of value-based care.
“As the healthcare space continues to evolve, IPG’s innovative approach is creating value for all stakeholders including health plans, device manufacturers, providers, and patients. We are pleased to be partnering with their team at an exciting time in the Company’s growth trajectory,” said TPG Growth’s Zach Ferguson. “We recognize the unique and valuable platform IPG has built and see a significant opportunity for the Company to expand its presence in both existing markets and new locations across the country. Leveraging our deep experience investing across the healthcare sector, we are excited to execute on our shared mission to positively impact healthcare costs in the growing surgical care market.”
“This is an exciting time for IPG and our partnership with TPG Growth is a testament to our dedicated employees, the strength of our mission, and the surgical management platform we have built,” said Vince Coppola, President and CEO of IPG. “IPG’s business has grown rapidly, driven by our strong value proposition and commitment to increasing patient access to cost-effective surgical care. With an impressive track record of scaling businesses and further accelerating growth and innovation, TPG is the ideal partner for IPG, and we look forward to working closely with their team to achieve our next level of growth.”
Coppola added, “We would also like to thank previous investors Sequoia Capital and Camden Partners for their support as IPG has delivered on its value proposition and successfully executed its growth strategy.”
Healthcare is a core investing theme for TPG. Over the past 15 years, TPG Growth has partnered with numerous healthcare companies around the world and across a range of disciplines including Evolent Health (NYSE: EVH), GoHealth Urgent Care, Medical Solutions, Precision Medicine Group, and Vaxcyte.
Deutsche Bank and TripleTree acted as financial advisors to TPG Growth in relation to this transaction. Citizens Capital Markets led a bank group that provided financing in support of this transaction.
IPG is the leading provider of Surgical Cost Management solutions, working with health plans, providers, surgical facilities, device manufacturers and patients across the country to improve quality and reduce costs for surgical procedures through optimization of the most effective site of care and device selection, resulting in more affordable high-quality care to consumers. For more information about IPG, call us at 866.753.0046, or visit us on the web at www.ipg.com.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With over $12 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The platform is backed by the resources of TPG, which has more than $91 billion of assets under management. For more information, please visit www.tpg.com or on Twitter @TPG.