Prospira PainCare, a provider of pain management services and a portfolio company Enhanced Equity, Webster Capital, and Pulse Equity, has acquired The Pain Management Center, a pain treatment center serving southern New Jersey and the Philadelphia metropolitan area.
The Pain Management Center was founded by practicing physician Dr. Adam Sackstein and is headquartered in Hamilton, NJ (www.painmanagementctr.com).
Prospira PainCare is an operator of physician practices in California and the Southeast U.S. focused on the pain management sector. The company was co-founded in August 2012 by Pulse Equity Partners and Barry Karlin (formerly Chairman & CEO of CRC Health Group, the nation’s largest behavioral healthcare company). The acquisition of The Pain Management Center follows the recent acquisition by Prospira PainCare of pain management and treatment centers in the southeast and western United States, including The National Pain Institute located throughout Florida, The Bay Area Pain & Wellness Center serving the San Francisco area and The Spine Center of Southeast Georgia. Prospira PainCare is headquartered in Mountain View, CA (www.prospirapc.com).
“Prospira PainCare is pleased to welcome The Pain Management Center into our existing portfolio of world-class pain management and treatment centers,” said Barry Karlin, Chairman & CEO of Prospira PainCare. “This partnership represents Prospira PainCare’s entrance in serving patients suffering from acute, chronic or intractable pain throughout the Northeastern United States.”
Enhanced Equity invests from $10 to $50 million in healthcare companies with annual revenues typically less than $100 million. The firm manages approximately $600 million of committed capital across two funds with the most recent raised in 2010. Enhanced Equity was founded in 2005 and is based in New York (www.enhancedequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-11-13