OrthoBethesda, a premier provider of orthopedic services in the greater Washington, DC region, has partnered with Atlantic Street Capital to create a dynamic orthopedic practice. OrthoBethesda operates four Centers of Excellence: Washington Joint Institute, providing treatment to patients with debilitating arthritic joint conditions; Washington Shoulder Institute, focusing on the demands of patients suffering from various shoulder-related ailments; Washington Spine and Scoliosis Institute, offering state of the art management of complex spinal conditions; and OrthoTraumaBethesda, providing advanced comprehensive care of orthopedic trauma cases. Provident Healthcare Partners (“Provident”) served as exclusive financial advisor to OrthoBethesda. The terms of the transaction were not disclosed.
Dr. Edward Bieber, Managing Partner of OrthoBethesda, said, “We have built OrthoBethesda over the past 50 years with a combination of medical experience and commitment to high quality patient care. We wanted a partner to not just provide capital but to also contribute strategic and operating value, and we are enthusiastic to partner with Atlantic Street Capital to expand the breadth of services, enhance the patient experience, and continue to improve execution and operations as we grow within our region and beyond.”
Dr. Bieber added “We were very competently represented and guided by Provident. They understood our goals, the landscape, and the players and brought us together with an ideal partner. We are very appreciative of their skills, knowledge and personal touch throughout the process.”
“We are excited to partner with Atlantic Street Capital to provide the highest level of orthopedic patient care. Provident was invaluable throughout this process. They took the time and did the research to understand our goals and they connected us with the perfect partner. They helped to guide us every step of the way to ensure a smooth transaction,” noted Dr. Sridhar Durbhakula, Co-Director of OrthoBethesda.
With 11 fellowship trained surgeons, OrthoBethesda has taken steps to position itself as the highest quality provider of musculoskeletal services in Maryland. Provident Healthcare Partner’s Robert Aprill said, “With the newly created partnership between the physicians of OrthoBethesda and Atlantic Street Capital, the Practice will be in a position to provide the highest level of patient care throughout the Mid-Atlantic and beyond.”
Founded in 1965, the practice is a leading provider of comprehensive musculoskeletal care to patients in the greater Washington, DC market. OrthoBethesda’s board-certified orthopedic surgeons, all fellowship-trained in their specialties, are respected for their expertise in treating problems relating to bones, joints, extremities, hands, feet, and the spine. This includes such disease processes as arthritis as well as fractures, tendon and ligament injuries, and sports-related concerns. The practice also employs a team of physical therapists and therapy aides in addition to a broader team of licensed clinicians. Visit http://www.orthobethesda.com/ for more information.
About Provident Healthcare Partners
Provident is the leading investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including the orthopedic sector. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a number of buyers such as private equity firms and strategic groups. For more information, visit www.providenthp.com.
Provident Healthcare Partners
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