Transaction news Precision Orthopedics

Precision Orthopedics is a leading provider of integrated orthopedic surgical care services across Maryland, USA.

#Cobepa #investment #precisionorthopedics
12 Jan '20

Precision Orthopedics receives growth equity financing from Cobepa S.A.

January 12, 2020 - Laurel, MD

Cobepa S.A. ("Cobepa"), a global private equity firm, announced today that it has closed a growth equity investment in Precision Orthopedics ("Precision" or "the company"), a leading provider of integrated orthopedic surgical care services across Maryland.

Precision will use the new capital to bolster its current operations and implement its expansion plans within Maryland and elsewhere. Dr. Rishi Bhatnagar, Founder and CEO of Precision, commented, "This partnership with Cobepa provides access to capital and strategic support for Precision's growth initiatives - including expanding into new geographies, opening additional ambulatory surgery centers and partnering with additional hospitals. It will enhance our ability to reach and treat patients."

"Cobepa has a long history of supporting leading founder-led companies," said Peter Connolly, a Managing Director at Cobepa. "Dr. Bhatnagar and his team at Precision have done a remarkable job of building Precision into the leader it has become in a large and important geography. We are thrilled to partner with the Precision physicians in support of the company's mission and growth objectives going forward."

Based in Laurel, Maryland, Precision is among the state's largest independent providers of clinical and surgical orthopedic treatment and ancillary patient care services. Utilizing a network of ten clinical locations, an ambulatory surgery center, and its deep hospital relationships, Precision provides a broad spectrum of comprehensive, patient-centric musculoskeletal care. Precision's comprehensive service line is administered by its deep team of highly trained physicians across the entire musculoskeletal spectrum, supported by the company's long-tenured clinical support staff and strong physician leadership.

Cobepa North America team members Peter Connolly and Peter Batesko have joined Precision's Board of Directors.

Duff & Phelps Securities, LLC and DLA Piper advised Precision. Choate, Hall & Stewart and Sheppard Mullin Richter & Hampton LLP provided legal counsel to Cobepa.