VSS Capital Partners has finalized an investment in Podiatry Growth Partners (PGP).
St. Louis, Missouri-based PGP provides a podiatry practice management platform. According to the press release, it “operates a national network of regionally branded podiatric clinics.” PGP provides support services to podiatrists including finance, accounting, billing, human resources, and marketing.
OTW spoke with VSS Managing Partner Jeffrey Stevenson about PGP. “Our investment in PGP resulted from the consolidation opportunity that we identified in the fragmented podiatry industry, which is benefiting from favorable reimbursement trends and the strong demand for podiatry treatments.”
Looking forward, PGP plans to continue its expansion across the United States. It will utilize VSS’ investment to generate new physician partnerships through continued acquisitions.
VSS Associate Victoria Durand commented on PGP’s growth plan. Durand stated, “We believe there is a tremendous opportunity for PGP to execute on its growth plan as the industry remains highly fragmented, with 99 percent of the nation’s 11,000-plus podiatry clinics in the U.S. being independently owned.”
CEO David Weiss leads the PGP team. Prior to joining PGP, Weiss served as senior vice president of strategy and general counsel at EyeCare Partners. In that role he ran all acquisition and strategy efforts.
Stevenson remarked, “We look forward to working with CEO David Weiss and his team who bring strong physician practice operational expertise to the Company [PGP].”
Stevenson continued, “We’re thrilled to provide PGP with VSS’ flexible capital resources, healthcare experience and guidance as they pursue the next chapter of their growth through regional and national acquisitions of complementary podiatry practices.”
Based in New York, VSS is a private investment firm that “invests in the information, business services, healthcare and education industries.” Per the press release, PGP represents VSS’ twelveth investment in healthcare services.
With regard to VSS’ investment, Weiss said, “VSS’ extensive experience in building successful healthcare organizations in close partnership with management teams is well aligned with PGP’s physician-focused model.”
