Leading healthcare and tech private equity firm Welsh, Carson, Anderson & Stowe (WCAS) recently announced the formation of a new venture along with leading American orthopedic practice Resurgens Orthopaedics. The venture will aim to create the most effective and cutting-edge physician-owned orthopedic platform in the U.S.
Welsh, Carson, Anderson & Stowe was founded in 1979 and has to date managed over $27 billion in funds. The firm partners with investment teams to build value for investors, with a focus on the healthcare and technology industries. WCAS has advised high profile industry names, including US Anesthesia Partners, US Radiology Specialists, US Oncology and United Surgical Partnership International (USPI).
Resurgens, founded over 35 years ago, is currently the largest orthopedic provider group in the state of Georgia. Resurgens provides a full spectrum of general ortho care, specialized care and ancillary services and employs around 100 physicians and 50 advanced care providers throughout 24 clinical locations, treating nearly 800,000 people annually.
Partner at WCAS Sean Traynor said, “As one of the largest and most respected orthopaedic practices in the country, Resurgens Orthopaedics is the perfect founding partner for our new venture. Resurgens Orthopaedics’ commitment to best-in-class clinical quality together with our resources and capital investment will enable the company to deliver exceptional care to more patients nationally. We are thrilled to partner with their team of outstanding providers.”
“We are excited to be building a new physician-owned company dedicated to delivering exceptional clinical care in orthopaedics and are thrilled to have the support of a highly experienced investor such as WCAS,” said Resurgens Orthopaedics CEO Alex Bateman. “We look forward to partnering with other like-minded, entrepreneurial orthopaedic practices around the country.”
Bateman will lead the new company. He brings decades of healthcare executive experience to the new role. His background includes leadership positions at United Surgical Partnership International.
OTW asked Bateman how long this project has been in the works. “We were evaluating growth strategies before COVID-19 but put our efforts on hold to navigate the pandemic,” Bateman said. “When things began to normalize in early 2021, we refocused our expansion and partnership plans. After undertaking a rigorous process to select an equity partner, the physicians and I chose WCAS as the partner whose philosophy and approach dovetailed best with ours. We look forward to working with the talented team at WCAS to execute on our ambitious business plan.”
Bateman expressed excitement about the newly formed partnership. “We have some exciting plans next year for Resurgens Orthopaedics and a partnership pipeline to aggressively pursue,” he told us. “There are many like-minded, entrepreneurial orthopaedic groups nationwide that we can help grow, and I look forward to building something really special together.”
