Prospira PainCare, a provider of pain management and other healthcare services, has acquired Advanced Interventional Pain Clinic (AIPC), a provider of pain management services in the Orlando metropolitan market. Prospira PainCare is a portfolio company of Enhanced Equity, Webster Capital and Pulse Equity.
“AIPC is a clinical leader in Central Florida. We believe that a partnership with Prospira will enable AIPC to broaden its continuum of care and further improve outcomes for patients with debilitating acute and chronic pain in the Orlando market,” said Dr. Barry Karlin, Chairman and CEO of Prospira PainCare. “We are pleased that AIPC has entrusted us with their practices and believe that the patient community will benefit from this partnership.”
Prospira PainCare is an operator of physician practices in New Jersey, California and the Southeast US focused on the pain management sector. The acquisition of AIPC follows the recent acquisitions by Prospira PainCare of pain management and treatment centers in the northeast, southeast and western United States, including Neuro Pain Consultants (Detroit), The Pain Management Center (New Jersey), The National Pain Institute (Florida), The Spine Center of Southeast Georgia and The Bay Area Pain & Wellness Center (San Francisco). Prospira PainCare was founded in August 2012 is headquartered in Mountain View, CA (www.prospirapc.com).
AIPC’s three practice locations in Florida – Orlando, Longwood and Ocoee – connect Prospira’s existing Florida locations north and south of Orlando. AIPC’s centers are run by lead physician Dr. Padmaja Yatham. She will continue to serve patients as part of Prospira. AIPC is headquartered in Orlando (www.flpaincare.com).
“We are very excited to welcome AIPC to the Prospira family of practices. The addition of AIPC to our existing Florida locations solidifies Prospira as the premier provider of pain management services in Central Florida,” said David Pegg, a Principal at Enhanced Equity Fund and member of Prospira’s Board of Directors. “We continue to support the company and its management as it develops its clinics within existing markets, as well as new regions in which it enters. We are fortunate to have a robust pipeline of quality investment opportunities, and we remain excited about the company’s future potential.”
Enhanced Equity invests from $10 million 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. Enhanced Equity was founded in 2005 and is based in New York (www.enhancedequity.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-13-14