On November 14 Healthcare Outcomes Performance Company (HOPCo) announced that it entered with an agreement to partner with OrthoConnecticut.
OrthoConnecticut is a multi-specialty orthopedic practice formed by the union of Coastal Orthopedics, Danbury Orthopedics, New Milford Orthopedics and Connecticut Pain Care. It has nine offices in Connecticut: Danbury, Darien, Litchfield, New Milford, Norwalk, Ridgefield, Sharon, Southbury and Westport. According to its website, it has 32 physicians on staff.
HOPCo provides musculoskeletal value-based health outcomes management, health system service line management and practice management software solutions. This includes management and optimization of specialties such as orthopedics, spine, neurosurgery, hand, pain management, rehabilitation and neurology. It is partnered with practices in more than 30 states.
This is HOPCo’s third acquisition of the year. The partnership between HOPCo and OrthoConnecticut will continue to develop clinically integrated partnerships with other leading musculoskeletal practices, physicians, health systems and payors throughout Connecticut. The financial terms were not disclosed.
According to data captured in the LevinPro HC database, this transaction marks the 459th Physician Medical Groups (PMG) acquisition of the year, and the 32nd in the orthopedic specialty. This is a 15% decrease from 2022 when there were 542 PMG transactions announced between January 1, 2022, through November 14, 2022.
