Chicago, IL and New York, NY, November 14, 2019 – Foot & Ankle Associates, 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 Foot & Ankle Associates has been acquired by affiliates of Albaron. Foot & Ankle Associates will become part of Beyond Podiatry, the first private equity backed podiatry management services organization. The financial terms of the transaction were not disclosed. Practice founder and chief medical officer, Dr. John Grady, has retained a minority ownership stake in Foot & Ankle Associates
ABOUT FOOT & ANKLE ASSOCIATES
Based in Chicago, IL, Foot & Ankle Associates is a regional leader in providing a breadth of foot and ankle treatments, from routine care to advanced surgical reconstruction and trauma: sports and trauma injuries, emergency care, corrective foot and ankle surgery, diabetic foot care, ulcer and wound management, pediatric foot and ankle care, ankle replacement surgery. Founded in 1999 by Dr. Grady, the practice sees 35,000 patients each year in its three clinics across the Chicago metropolitan area. For more information, visit: www.footandankleinstitute.com
ABOUT BEYOND PODIATRY
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 Foot & Ankle Associates following its acquisition by Albaron. If any of these risks or uncertainties materialize, or if any of Foot & Ankle Associates’ or Albaron’s assumptions prove incorrect, Foot & Ankle Associates’ 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 Foot & Ankle Associates and Albaron as of the date of this communication, and Foot & Ankle Associates 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.