Chicago, IL and New York, NY, September 30, 2021 – First Step Foot Care, an Illinois-based, regional leader in comprehensive foot and ankle care, and Albaron Partners, LP (“Albaron”), a U.S. private equity firm focused on acquiring majority stakes of companies in the specialty healthcare services sector, today announced that First Step Foot Care has been acquired by affiliates of Albaron Partners. First Step Foot Care will become part of Beyond Podiatry, Albaron’s podiatry management services organization. The financial terms of the transaction were not disclosed. Practice founder and chief medical officer,
Dr. James Flood, has retained a minority ownership stake in First Step Foot Care.
ABOUT FIRST STEP FOOT CARE
Based in Chicago, IL, First Step Foot Care is a regional leader in providing a comprehensive service of care for foot and ankle conditions, including sports and trauma injuries, arthritis, metatarsalgia, diabetic care, and reconstructive foot surgery. Founded in 1991 by Dr. Flood, the practice sees 25,000 patients each year in its three clinics across the Chicago metropolitan area. For more information, visit: www.firststepfootcare.com
Beyond Podiatry provides patients with the most advanced and comprehensive foot and ankle care treatment options to meet their personalized needs. As a team, they combine the skills of some of the premier podiatric medicine experts in the country and seasoned operating professionals with experience in running large healthcare organizations. For more information, visit: www.beyond-podiatry.com
Albaron is a U.S. private equity firm that invests in and helps accelerate the growth of physician practice groups and microcap healthcare companies. The firm’s goal is to build best-in-class healthcare services platforms that maximize outcomes for all constituents – patients, providers, payors and investors. Albaron’s team is comprised of a seasoned cohort of operating experts and investment professionals who are uniquely qualified to realize significant value through strategic insights, operating support and accretive acquisitions. The team works collaboratively with partnering management teams and leverages its network of industry experts to augment its capabilities. For more information, visit: www.albaronpartners.com
This communication expressly or implicitly contains certain forward-looking statements that involve risks and uncertainties, including statements regarding expectations for First Step Foot Care following its acquisition by Albaron. If any of these risks or uncertainties materialize, or if any of First Step Foot Care’s or Albaron’s assumptions prove incorrect, First Step Foot Care’s results could differ materially from the results expressed or implied by these forward-looking statements. All forward-looking statements in this communication are based on information available to First Step Foot Care and Albaron as of the date of this communication, and First Step Foot Care and Albaron do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.