National orthopedics and spine practice management leader Novum Orthopedic Partners, based in Dallas and Fort Worth, Texas, has launched a new orthopedic practice management platform with investments in five Texas-based practices.
With private equity backing, Novum invested in Abilene Sports Medicine & Orthopedics (ASMO), Arlington Orthopedic Associates (AOA), Abilene Center of Orthopedics and Multispecialty, Baylor Scott & White Orthopedic Spine Hospital at Arlington, and Waxahachie Orthopedic and Sports Medicine.
Novum’s strategic investments will enable Texan ortho and spine practices to maintain independent functioning while also benefiting from Novum’s sophisticated practice management platform and national level resources and support.
“Novum’s physician-centric approach to practice management is what attracted us,” explained AOA President James Burnett, M.D. “Post-closing, we will remain in control of the daily delivery of care to our patients while benefiting from the operational expertise of Novum. In Novum, we found a partner that shares both our clinical and operational vision and that alignment is reflected in AOA’s material go-forward ownership in the company. Novum’s ongoing investment will keep us on the leading edge when it comes to delivery of care and patient experience.”
A & M Capital Partners (AMCP) is the private equity firm backing Novum. McDermott Will & Emery advised AMCP on the transaction. AMCP currently has over $2.7 billion in assets under management. AMCP is Alvarez & Marsal Capital’s (A&M) flagship North American investment branch. A&M is one of the world's largest operationally-focused advisory firms.
“The formation of Novum and the initial practice and surgery center investments are the cornerstone of the company’s orthopedic practice management platform,” said AMCP Partner Tom Clayton. “Each of the practices has built leading cultures including a strong commitment to clinical quality, which provides a strong foundation from which to pursue future growth.”
Novum practices employs over 300 people in 12 clinical settings and 5 physical therapy sites, including 34 ortho and spine doctors. They offer a wide range of orthopedic care in the Texas region, including musculoskeletal services, diagnostic imaging, surgery, pain management, physical therapy and ancillary services. Novum aims to partner with orthopedic and surgical practices that desire growth and tech innovation.
“Our physician-led model has a successful track record of driving practice strategies that result in both near-term and long-term value to our physician partners and best-in-class clinical outcomes to their patients,” said Novum Chief Development Officer Eric Slimmer. “We are leveraging a proven playbook and optimizing it for the orthopedics specialty.”
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