On January 3 it was announced that American Pain Consortium (APC) was being recapitalized by Cresset Partners, Cedar Pine and American Discovery Capital (ADC). The financial terms were not disclosed.
APC is a leading interventional pain management practice, formed by the combination of certain assets of Shadeland Anesthesia & Pain Associates, Inc., P.C., the Center for Special Surgery, LLC and the Center for Southside Surgery.
Cresset Partners is a private equity firm based in Chicago, Illinois. The firm seeks to invest in the financial services, healthcare, technology, education, business and consumer service sectors.
Cedar Pine is a private investment firm specializing in strategic, long-term assets. The company is based in Northbrook, outside of Chicago.
ADC is a private equity firm investing in leading family-owned and middle market companies operating in high-growth industry sectors. It is based in Los Angeles. Prior to this transaction, ADC already had a stake in APC and will claim a majority stake in the company.
Brown, Gibbons, Lang & Company served as financial advisor and Faegre Drinker Biddle & Reath LLP served as legal advisor to APC. McGuire Woods LLP served as legal advisor to Cresset Partners. Bodman PLC served as legal adviser to American Discovery Capital.
According to data captured in the LevinPro HC database, this transaction marks the fifth Physician Medical Groups (PMG) acquisition of the year, and the first in the pain management specialty. In 2023, 519 PMG acquisitions were reported.
