Welsh, Carson, Anderson & Stowe ("WCAS"), a leading private equity firm focused exclusively on the healthcare and technology industries, and Resurgens Orthopaedics, one of the nation's largest orthopaedic practices, today announced the formation of a new venture focused on building the premier physician-owned orthopaedic platform in the country.
Since its founding over 35 years ago, Resurgens Orthopaedics has grown into the largest orthopaedic group in Georgia, providing comprehensive specialty care and ancillary services addressing all musculoskeletal needs. Today, Resurgens Orthopaedics has nearly 100 physicians and approximately 50 advanced practice providers across 24 clinic locations serving nearly 800,000 patients annually in Atlanta.
The new company will be led by Alex Bateman as Chief Executive Officer. Bateman is a seasoned healthcare executive with decades of operating experience, including senior leadership roles at United Surgical Partners International ("USPI"), a former WCAS portfolio company, and DaVita.He currently serves as the Chief Executive Officer of Resurgens Orthopaedics.
"We are excited to be building a new physician-owned company dedicated to delivering exceptional clinical care in orthopaedics and are thrilled to have the support of a highly experienced investor such as WCAS," said Bateman. "We look forward to partnering with other like-minded, entrepreneurial orthopaedic practices around the country."
Sean Traynor, General Partner at WCAS, said, "As one of the largest and most respected orthopaedic practices in the country, Resurgens Orthopaedics is the perfect founding partner for our new venture. Resurgens Orthopaedics' commitment to best-in-class clinical quality together with our resources and capital investment will enable the company to deliver exceptional care to more patients nationally. We are thrilled to partner with their team of outstanding providers."
WCAS has deep experience building industry leading companies in partnership with physicians, including: US Radiology Specialists, US Anesthesia Partners, US Acute Care Solutions, US Oncology and USPI, among others.
Harris Williams acted as exclusive financial advisor to Resurgens Orthopaedics, with Bass Berry Sims serving as legal counsel. Sidley Austin served as legal counsel to WCAS.
About Resurgens Orthopaedics
Resurgens Orthopaedics, one of the nation's largest orthopaedic practices, has 24 offices throughout metro Atlanta, serving the residents of Georgia, the Southeast and beyond. Resurgens Orthopaedics provides comprehensive operative and non-operative musculoskeletal care in a single location, from injury diagnosis and treatment to rehabilitation and imaging services. With almost 100 physicians, Resurgens Orthopaedics provides specialized expertise and broad experience in the areas of sports medicine, joint replacement, neck and back surgery, foot and ankle surgery, shoulder and elbow surgery, non-operative spine care, hand surgery, arthroscopic surgery, epidural steroid injection, general orthopaedics and trauma care. For more information, please visit www.resurgens.com.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. The firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit www.wcas.com.
Jon Rather 212-893-9570
Greg Lau 212-893-9586
Resurgens Orthopaedics Contact:
Judy Eustace 404-531-8442