Tricity Pain Associates And Spindletop Pain Management Holdings Acquire Hill Country Pain Associates
SAN ANTONIO and AUSTIN, Texas, Aug. 3, 2020 /PRNewswire/ -- Spindletop Pain Management Holdings, LLC, and Tricity Pain Associates, P.A., a leading provider of pain management services, announces that it has acquired Hill Country Pain Associates. Spindletop Pain Management Holdings partnered with Tricity Pain Associates in 2018 to become a leader in pain management services.
Tricity Pain Associates is expanding along the I-35 corridor to serve more patients and strengthen its presence in North San Antonio and New Braunfels in Comal county. This partnership extends the reach of Tricity Pain to the Texas Hill Country with the addition of a presence in Fredericksburg in Gillespie county. With the acquisition of Hill Country Pain, Tricity Pain Associates will have 35 pain management providers across 22 clinic locations, including three ASCs in Texas.
"Partnering with Hill Country Pain allows us to service a larger geographic area to include the growing cities of New Braunfels and San Marcos. We intend to continue to deliver high-level care with a multi-disciplinary approach to pain management. This partnership will also allow us to provide an excellent patient experience and high-quality care at a lower cost," commented Urfan Dar, M.D. CEO of Tricity Pain Associates.
"We are excited about merging our considerable experience in pain management with our colleagues at Tricity Pain. We could not be more enthusiastic about the future of pain management care for our patients as we move forward together. The partnership will allow greater coverage in several of the fastest-growing communities in the country today. Hill Country Pain is honored to have served tens of thousands of patients in the San Antonio and Central Texas/Hill Country region for decades. Other groups and hospital systems had approached us over the years. Still, this partnership with Spindletop and Tricity felt right and is the one we chose for our patients, our staff, and our continued professional growth," noted Hill Country Pain Associates co-founders Bill Murphy, M.D and Justin Vigil, M.D.
"Management of chronic pain has become one of the highest costs for the healthcare system today. We believe that there are significant opportunities to improve the 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 Hill Country Pain'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."
Last May, Spindletop Capital Management announced plans to invest an additional $100M into the growing field of Interventional Pain Management.
About Spindletop Pain Management Holdings
Founded in San Antonio, TX in 2018, Spindletop Pain Management Holdings is building an innovative multi-disciplinary pain platform "By Physicians, For Physicians" providing superior quality of care and improved outcomes that: patients and physicians recommend to family and friends. Its mission is to create the leading provider of multi-disciplinary pain management care by partnering with providers of the highest quality across multiple disciplines including interventional pain management, physical medicine and rehabilitation (PM&R), sports medicine, and behavioral medicine.
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 expertise, 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, and specialty pharmaceuticals. For more information, visit www.spindletopcapital.com
About Hill Country Pain Associates
Founded in 2005, Hill Country Pain Associates is a comprehensive pain management practice focused on high-quality care supported by a dedicated staff of professionals and headquartered in San Antonio, Texas.
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SOURCE Spindletop Capital Management
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