Wellspring Capital Management Completes Acquisition of Summit Spine & Joint Centers

, /PRNewswire/ -- Wellspring Capital Management ("Wellspring"), a leading private equity firm headquartered in New York, announced today that it has partnered with the company's management team and existing sponsor, MSouth Equity Partners, to complete the acquisition of Summit Spine & Joint Centers ("Summit" or the "Company"). Terms of the transaction were not disclosed.

Summit is a leading provider of minimally invasive spine services in the southeastern US. Headquartered in Lawrenceville, Georgia, Summit manages and operates 17 Ambulatory Surgery Centers ("ASCs") and 44 clinics across Georgia, North Carolina, South Carolina, and Tennessee. Summit specializes in the precise diagnosis and treatment of neck and back discomfort and various other spine and musculoskeletal conditions, enabled by its highly skilled physicians and state-of-the art equipment. The Company was founded in 2014 to provide patients with high-quality, patient-focused comprehensive treatments, and has successfully expanded its presence over the past decade primarily through de novo location development 

"Partnering with Wellspring marks an exciting new chapter for Summit. In recent years, there has been a growing effort to manage patient's spinal discomfort in lower cost of care settings, and Summit's minimally invasive spine services in clinics and ASCs is helping enable this shift." said Dr. Amit Patel, CEO of Summit Spine & Joint Centers. "Summit is excited to partner with Wellspring in our effort to serve more patients in the Southeast. Their deep expertise in healthcare investing and commitment to operational excellence will allow us to accelerate our growth while continuing to provide best-in-class care to our patients."

This represents Wellspring's fourth platform investment in the past twelve months and concurrent with the close of Summit, Wellspring held a first close for Wellspring Capital Partners Bridge Fund, L.P. (the "Bridge Fund"), a vehicle that holds interest in Summit and two assets that Wellspring acquired in 2024 (BatteriesPlus and Pinnacle Service Brands). The Bridge Fund also provides Wellspring with additional dry powder to fund its near-term deal pipeline ahead of the launch of its seventh flagship fund.

Regarding the acquisition, Naishadh Lalwani, a Managing Partner at Wellspring, offered:

"We believe Summit represents a truly unique platform in the minimally invasive spine sector and are thrilled to partner with Dr. Patel and team. The company's physician centered approach, dedication to innovation, and impressive growth through de novo expansion make them an outstanding addition to our portfolio. Summit's commitment to delivering high-quality, minimally invasive spinal care aligns well with our healthcare strategy of investing in industry leaders who are making a meaningful impact to patient outcomes in outpatient settings."

Financing for this transaction was provided by Audax Private Debt LLC. Benesch Friedlander Coplan & Aronoff LLP served as legal counsel to Wellspring. Houlihan Lokey served as financial advisor, and DLA Piper served as legal counsel to Summit with respect to the transaction.

About Wellspring Capital Management 

Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $6 billion of initial capital commitments through over ten private equity funds. In total, Wellspring's current portfolio companies employ nearly 60,000 people around the world and generated aggregate revenues in excess of approximately $4.5 billion in 2024. Over the past 25 years, Wellspring has invested in over 50 platform investments across various segments of the U.S. and global economies. Wellspring's objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources. For additional information, please visit www.wellspringcapital.com

About Summit Spine & Joint Centers  

Summit is a leading provider of minimally invasive spine services in the southeastern US. Headquartered in Lawrenceville, Georgia, Summit manages and operates 17 Ambulatory Surgery Centers ("ASCs") and 44 clinics across Georgia, North Carolina, South Carolina, and Tennessee. Summit specializes in the precise diagnosis and treatment of neck and back discomfort and various other spine and musculoskeletal conditions, enabled by its highly skilled physicians and state-of-the art equipment. The Company was founded in 2014 to provide patients with high-quality, patient-focused comprehensive treatments, and has successfully expanded its presence over the past decade primarily through de novo location development

SOURCE Wellspring Capital Management Group LLC