Cross Keys Capital announced that it has acted as the exclusive financial advisor to SEPA Pain & Spine in its partnership with DxTx Pain & Spine. The Cross Keys deal team consisted of Michael Papadakis, Jeanne Proia, Chris Gammill, Victor Arocho and Andres Poveda.
SEPA Pain & Spine is a community-based pain management practice that has been serving Southeast Pennsylvania for more than 25 years, with six locations and two surgical centers. SEPA specializes in interventional pain management to treat a wide range of chronic and debilitating conditions, including back pain, neck pain, joint pain, arthritis, fibromyalgia, multiple sclerosis, migraines, nerve injuries and other sources of persistent pain. According to its website, the practice has seven physicians on staff.
DxTx Pain & Spine is a majority physician- and family-owned business that operates surgery centers and practices dedicated to the precise diagnosis and treatment of spine and pain conditions. With approximately 70 locations spanning eleven states, DxTx provides fully integrated support across compliance, HR, finance, operations and revenue cycle management.
SEPA Pain & Spine was represented by Buchanan Ingersoll & Rooney for legal counsel. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the 93rd Physician Medical Group acquisition of 2026, and the third in the pain management specialty. The two other deals in the space this year include Resolve Pain Solutions’ acquisition of Spine Diagnostic & Pain Treatment Center in Louisiana and Summit Spine & Joint Centers’ acquisition of Savannah Pain Management and Savannah Pain Center in Georgia. There were nine pain management transactions reported in 2025, and seven in 2024.
