#USA #New York #healthcare #Wellspring #Summit Spine

Wellspring Capital Management Expands Healthcare Portfolio

On April 3, 2025, Wellspring Capital Management, a prominent private equity firm based in New York, announced the successful acquisition of Summit Spine & Joint Centers. This strategic move marks a significant milestone in Wellspring’s commitment to investing in innovative healthcare solutions and underlines their focus on minimally invasive treatment options for patients in the Southeastern United States.

Summit Spine & Joint Centers: A Leader in Patient Care

Summit Spine, renowned for its advanced minimally invasive spine services, operates 17 Ambulatory Surgery Centers (ASCs) and 44 clinics across Georgia, North Carolina, South Carolina, and Tennessee. Established in 2014 in Lawrenceville, Georgia, the company has rapidly evolved, driven by its mission to enhance patient outcomes through high-quality, patient-focused care. Dr. Amit Patel, CEO of Summit, emphasizes the importance of this partnership, stating that it opens a new chapter for the center, reinforcing their ability to manage patients’ spinal discomfort while maintaining a lower cost of care.

Wellspring’s acquisition signifies an acknowledgment of the growing demand for cost-effective healthcare solutions, especially in outpatient settings. As Dr. Patel highlighted, the partnership aims to increase access to services, taking advantage of Wellspring’s healthcare investment expertise and operational support to expedite growth and expand services further.

A Strategic Growth Opportunity

The acquisition of Summit marks Wellspring’s fourth platform investment within the past year, signaling robust activity in the healthcare market. Concurrently, Wellspring completed a first close of its Wellspring Capital Partners Bridge Fund, L.P., which will include interests in Summit as well as other assets acquired in 2024, including BatteriesPlus and Pinnacle Service Brands. This positioning provides Wellspring with ample resources to finance upcoming acquisitions.

Naishadh Lalwani, Managing Partner at Wellspring, expressed excitement about the addition of Summit to their portfolio. He noted, “We believe Summit represents a truly unique platform in the minimally invasive spine sector and are thrilled to partner with Dr. Patel and his team. Their dedication to innovation and impressive growth through de novo expansion make them an outstanding fit for our healthcare strategy.”

Strengthening Healthcare Infrastructure

Summit’s providers are instrumental in diagnosing and treating various spine and musculoskeletal conditions through cutting-edge medical technology. The firm’s commitment to precision and minimally invasive procedures reflects a broader trend in healthcare that focuses on patient-centered care.

Finance for this transaction was provided by Audax Private Debt LLC, with legal guidance from Benesch Friedlander Coplan & Aronoff LLP for Wellspring, and DLA Piper representing Summit. The broad guidance provided by experienced financial and legal advisors underscores the strategic nature of this acquisition in enhancing healthcare offerings.

Conclusion

In summary, Wellspring Capital Management’s acquisition of Summit Spine & Joint Centers is a strategic investment aimed at delivering innovative healthcare solutions and expanding access to advanced medical treatment in the Southeastern U.S. This partnership is expected to drive significant growth for both Wellspring and Summit, further solidifying their shared commitment to improving patient care through operational excellence and cutting-edge healthcare services.