Physician practices are hot tickets this year, as private investors scramble to put capital to work anywhere they can. Through May 2018, 82 acquisitions have been made public in the Physician Medical Group sector, close to half of all such deals reported in 2017 (166 transactions).
Anything that ends in “ology” is getting money thrown at it, some sources tell us. Dermatology practices are in the lead so far, with 18 announced transactions (22%). Ophthalmology and radiology practices are tied for second place, with seven deals each (9%). Primary care is third, with six deals announced (7%).
Then there’s pain management practices, with five transactions announced in 2018 thus far (6%). The latest comes from Spindletop Capital Management in Austin, Texas, a healthcare investment firm providing capital for commercial-stage companies.
The firm invested in two pain management companies in San Antonio, Texas: Tricity Pain Associates and Interventional Pain Management (collectively, TPA) for an undisclosed amount. TPA provides integrated pain management, ambulatory surgery and ancillary patient treatment across the state.
This acquisition is the first in a series of acquisitions by Spindletop to develop a premier national provider of pain management services, under the brand name Spindletop Pain Management Holdings. All of TPA’s physicians will retain a significant interest in the company.
