On June 26, Spire Orthopedic Partners announced that it acquired Ortho Rhode Island for an undisclosed price.
Formed in 2015, Ortho Rhode Island was established from the merger of four prominent practices in Rhode Island. Headquartered in Warwick, Rhode Island, Ortho Rhode Island provides clinical care across six locations and a state-of-the-art ambulatory surgery center. The company offers clinical innovation through leading technologies, including robotic-assisted surgery, minimally invasive nano-operative arthroscopy and orthobiologics treatments.
Additionally, Ortho Rhode Island provides various ancillary service offerings including advanced imaging, orthopedic urgent care, durable medical equipment and physical and occupational therapy. According to its website, the practice has 36 providers on staff.
Spire Orthopedic Partners, a portfolio company of Kohlberg & Company LLC, is a national partnership of orthopedic practices providing the support, capital and operational resources physicians need to grow their practices. The network spans across the Northeast with more than 165 physicians, 1,800 employees, 285 other clinical providers and 40 locations in New York, Connecticut, Rhode Island and Massachusetts.
Ortho Rhode Island will continue to operate under its current brand. Dr. Michael Bradley, Ortho Rhode Island’s President and Chief Executive Officer, will also assume the role of Chief Medical Officer, alongside a newly formed Clinical Governance Board.
According to data captured in the LevinPro HC database, this transaction marks the 253rd Physician Medical Group acquisition of 2024, and the 11th in the orthopaedic specialty. This is a decrease from the year before when 20 orthopaedic deals were reported between January 1, 2023, and June 26, 2023. This transaction is also Spire Orthopedic Partners’ first acquisition of 2024. In 2023 and 2022, the company acquired two practices each year.
