Brown Gibbons Lang & Company (BGL) is pleased to announce the recapitalization of an affiliate of Capitol Pain Institute (CPI), a portfolio company of New State Capital Partners, by Iron Path Capital. BGL’s Healthcare & Life Sciences investment banking team served as the exclusive financial advisor to CPI in the transaction. The specific terms of the transaction were not disclosed. The transaction builds upon BGL’s market leadership position in advising physician practices and related ancillary services.
Founded in 2007 by Dr. Matthew Schocket, CPI is an interventional pain management provider focused on providing the highest level of quality, evidence-based pain management care. CPI offers a broad range of services with an emphasis on advanced interventional pain management including spinal cord and peripheral nerve stimulation, interspinous stabilization and fixation, and posterior SI joint fusion. With clinics and ambulatory surgical centers across Texas, Ohio, and Kentucky, CPI is focused on expanding its quality patient care across the West and Midwest to build a leading national platform.
Iron Path Capital is an operationally-focused private equity firm focused on lower-middle-market investments across the healthcare and specialty industrial sectors. With offices in Nashville, TN, and Charlottesville, VA, Iron Path Capital supports its partners with capital, operating expertise, business development, and industry relationships to achieve significant scale. Iron Path Capital selects companies with stable cash flows, superior management teams, strong performance trajectories, and multiple vectors for growth, both organic and through consolidation.
This transaction will enable CPI to expand its national footprint by affiliating with independent pain management practices and building de novo clinics and ambulatory surgical centers. The platform intends to support corporate functions at affiliated practices, thereby allowing physicians to focus on best serving their patients, local communities, and the scientific community. CPI is actively building its network of top clinicians who are interested in joining a physician-led platform.
BGL’s Healthcare Provider Services Group is one of the most experienced and respected financial advisory teams in the U.S. for physician practice M&A and related technical services, with a long track record of expertise in physician practice valuation and in successfully advising physicians and alternate site providers through strategic transactions like selling a physician practice.