Tricity Pain Associates is on the move in Texas. It’s announced two acquisitions in the first half of July, and management is looking for more.
Tricity offers pain management services for spinal stenosis, herniated disc, neck pain and lower back pain. It was acquired by Spindletop Capital Management in May 2018, along with another pain management practice, Interventional Pain Management.
That acquisition was the first in a series by Spindletop to develop a premier national provider of pain management services, under the brand name Spindletop Pain Management Holdings. The companies (collectively TPA) provide integrated pain management care, ambulatory surgery centers and ancillary patient treatment across Texas.
The first deal in July 2019 targeted VIP Surgical Center, an ambulatory surgical center in West Conroe, Texas, serving the northern Houston metropolitan market. Tricity’s initial plans call for hiring three board-certified interventional pain specialists and orthopedic surgeons at the center.
A week later, the company announced its acquisition of Barnes Physical Therapy, a practice founded by Dr. Michael Barnes in 2009. The San Antonio-based solo practice has been rebranded as Phase Four Physiotherapy. Tricity intends to expand the practice across its existing markets in Dallas, Houston, Austin and San Antonio.
With this acquisition, Tricity has 19 pain mangement providers across 13 clinics, including three ambulatory surgery centers in Texas.
In May 2019, Spindletop Capital Management announced plans to invest $100 milion into the growing field of interventional pain management. These deals are part of its strategy to provide an integrated, multi-disciplinary approach to pain management. Financial terms were not disclosed in either deal.
