The Tampa-based Florida Orthopaedic Institute (FOI) and the five practices of OrthoCare Florida (OrthoCare) have merged, forming the largest orthopedic practice in Florida and the 13th largest in the entire country. The new facility is taking the Florida Orthopaedic Institute name and has the capacity to serve more than 150,000 patients with its 150 providers at 17 locations throughout Tampa Bay.
“Both practices share the same values and commitment to providing world-class, patient-centered care,” said Roy Sanders, M.D., president and chief medical officer at Florida Orthopaedic Institute. “This bond will allow us to continue leading the way in terms of innovative technology and services.”
“We are very fortunate to be creating an alliance of well-established physician-led practices with excellent reputations,” said John Kilgore, M.D., president of OrthoCare Florida. “Patients will now have even more convenient access to comprehensive and advanced orthopedic and sports medicine care, no matter where they live in Tampa Bay.”
Tampa-based MD Healthcare Partners led the merger and will continue to provide executive management services and growth resources.
According to the news release, “Florida Orthopaedic Institute will also continue its existing hospital affiliations, as well as medical residencies and fellowship programs with the University of South Florida. The merger will allow FOI, which is home to some of the most published physician research programs, to extend those programs throughout the region, and add research opportunities in partnership with FORE and FIVE Labs, an orthopedic-based research facility.”
Providing a bit of history and context, Dr. Sanders told OTW, “We initially considered joining forces nearly seven years ago, and recently reconvened. With a clear understanding of the changes happening in the industry, including more private equity and health systems acquiring orthopedic practices, we saw this merger as a unique opportunity for both groups to not only gain scale but remain independent.”
Helping to steer the overall growth strategy is MD Healthcare Partners.
Dr. Sanders: “They assume the responsibility of the management, strategy and operations, functioning as the office of the CEO, as well as the business development team. Through relationships and experience, they organize the right structure and capital needs for the growth of the practice. Additionally, MD Healthcare Partners provides our practice with sophisticated management resources that a smaller or independent orthopedic group may not typically be able to acquire. In doing so, they assist in setting our overall growth strategy, execute the supporting strategic plan, organize resources for growth and provide capital where appropriate.”
