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Spindletop Capital Announces $100M Expansion Plans and Celebrates One Year Anniversary with Tricity Pain Associates and Interventional Pain Management
AUSTIN, Texas, May 13, 2019 /PRNewswire/ -- Spindletop Capital Management, a healthcare growth equity and growth buyout firm, celebrated their first anniversary with partner Tricity Pain Associates and Interventional Pain Management (TPA) and announced their plans to invest another $100M into the growing field of Pain Management. SCM's and TPA's joint mission is to create the leading provider of pain management care, consolidating providers of the highest quality pain management, physical medicine, and rehabilitation (PM&R), sports medicine, and addiction medicine with integrated ancillary treatments across the region.
Dr. Urfan Dar, CEO of Tricity Pain Associates, recently commented, "This past year has been very exciting with the acquisition and addition of new clinical sites across the state and the recruitment of physicians from leading training programs. Our team of top physicians in the pain space allows us to offer cutting edge novel therapies and minimally invasive procedures. The physicians of TPA are tremendously excited about our growth partnership with Spindletop. The fact that the Spindletop team is led by physicians who still see patients resonated with us. Spindletop brings deep clinical expertise and a demonstrated track record of success in physician practice management as investors, operators, and clinicians."
"Management of chronic pain has become one of the largest costs for the healthcare system today. We believe that there are significant opportunities to improve quality of care and lower costs through minimally invasive procedures and leveraging non-opioid dependent care modalities. The future of pain management lies with an integrated, multi-disciplinary approach to providing care," noted Dr. Evan Melrose, Founding Managing Director of Spindletop Capital. He continued, "The Spindletop team is uniquely equipped to provide expertise and infrastructure to support TPA's physicians and enable them to continue to provide high-quality care. By aligning interests with our patients and providers, we enable our physicians to remain clinically independent but leverage the resources of the Spindletop organization."
This represents the third physician practice management platform Spindletop has invested in over the last 24 months including Sanova Dermatology and HNI Healthcare.
About Spindletop Capital Management
Spindletop Capital, founded in 2011, is a healthcare investment firm focused on providing expansion capital for commercial stage healthcare companies. Based in Austin, Spindletop is managed by an unrivaled team of investment professionals and advisors with deep operating, technical, and transactional experience. Spindletop Capital leverages the organization's deep experience, broad network, and proprietary access to Texas resources to enhance value for management teams and financing syndicates. Spindletop Capital invests nationally across all sectors of healthcare including medical devices, diagnostics, healthcare services, healthcare IT, specialty pharmaceuticals and biotechnology. For more information, visit www.spindletopcapital.com
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SOURCE Spindletop Capital Management