ATLANTA, July 20, 2022--(BUSINESS WIRE)--United Musculoskeletal Partners (UMP) announced today its merger with Dallas-based Novum Orthopedic Partners (Novum) to form the premier physician-owned orthopedic platform in the country. In addition, Denver-based Panorama Orthopedics (Panorama) joins Atlanta-based Resurgens Orthopaedics (Resurgens) and Dallas-based Arlington Orthopedic Associates (AOA) as co-founding partners of UMP. Together, these new partnerships establish UMP as a national leader in musculoskeletal care delivery.
UMP, led by CEO Alex Bateman, is a joint venture of leading orthopedic practices and private equity group Welsh, Carson, Anderson & Stowe (WCAS). With the addition of Novum and Panorama, UMP grows to nearly 190 physician partners and 320 total providers across Colorado, Georgia and Texas.
Backed by A&M Capital Partners (AMCP), Novum launched its orthopedic platform in December 2021 by bringing together AOA, Abilene Sports Medicine & Orthopedics and Waxahachie Orthopedic and Sports Medicine and investments in two leading surgical facilities captive to those practices. Inclusive of the recent addition of North Texas Orthopedics & Spine Center, the four Novum practices will join UMP, with AMCP joining as go-forward sponsor partners alongside WCAS.
"I believe this partnership of elite orthopedic groups, backed by WCAS and AMCP, will be transformative, as we come together to deliver the very best patient care and drive innovation and growth," said Bateman. "This merger will allow UMP to continue adding like-minded practices to our footprint, as we build the leading musculoskeletal enterprise in the nation."
Eric Slimmer, Chief Development Officer for Novum, said, "The timing was serendipitous that we could merge these two newly formed ventures into one, high-performing platform. Our visions are aligned and that favorably positions us to execute on our goals together."
"This partnership is especially exciting for Panorama as we join forces with Novum, Resurgens, WCAS and AMCP under the UMP platform to create more access for patients to world-class orthopedic and musculoskeletal care," said Mark Conklin, MD, President of Panorama. "Together, we can continue paving the way for the future of orthopedics."
About United Musculoskeletal Partners
United Musculoskeletal Partners (UMP) was formed in December 2021 by Resurgens Orthopaedics, one of the nation’s largest orthopedic practices, and leading private equity firm WCAS. UMP will partner with entrepreneurial, physician-owned orthopedic practices to deliver exceptional clinical care to patients around the country while simplifying the management functions of the practices under one umbrella company. More information at www.umpartners.com.
About Novum Orthopedic Partners
Novum Orthopedic Partners is an innovator in the field of orthopedic practice management. The Company’s model allows for practices of all sizes to maintain local autonomy and independence while achieving the benefits of scale in a national team setting. Novum’s strategy, structure and time-tested model are designed to meet future demands and deliver sustained growth. For more information, please visit www.novumortho.com.
About Panorama Orthopedics
The orthopedic providers at Panorama are highly trained and focused on specific sub-specialties. With over 100 physicians and advanced practice providers, we offer orthopedic specialists in sports medicine, orthopedic trauma, hand, wrist and elbow, foot and ankle, hip preservation, joint replacement and spine care. In addition, we offer non-operative pain management specialists and physical therapists. Our entire team works together with one goal in mind, to help get you back to feeling better so you can lead an active life. For more information visit www.panoramaortho.com.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. The firm has raised and managed funds totaling over $30 billion of committed capital. For more information, please visit www.wcas.com.
About A&M Capital Partners
A&M Capital Partners ("AMCP") is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America with total assets under management of approximately $2.9 billion. AMCP partners with founders, corporates and management teams, providing the capital and strategic assistance that we believe is required to take businesses to the next level of success. AMCP is part of Alvarez & Marsal Capital (AMC), a multi-strategy private equity investment firm with over $4.2 billion in total assets under management across four investment strategies, which maintains a strategic association with Alvarez & Marsal, one of the largest operationally focused advisory firms in the world. More information is available at www.a-mcapital.com.
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