Orthopedic Care Partners Announces Affiliation with OrthoAspen

Transaction is OCP’s Seventh Practice Affiliation and Expands One of the Largest Orthopaedic Platform Practices in the US

GAINESVILLE, Fla.–(BUSINESS WIRE)–Orthopedic Care Partners (OCP), an orthopaedic practice management platform comprised of The Orthopaedic Institute (TOI), The Steadman Clinic, and other leading affiliated practices, today announced a strategic practice affiliation with OrthoAspen, which is Aspen Valley Hospital’s (AVH) employed orthopaedic practice. OrthoAspen will integrate into The Steadman Clinic. In addition, AVH, The Steadman Clinic, OCP, and Vail Health will collaborate to develop a state-of-the-art orthopaedic ambulatory surgery center. Under the partnership with OrthoAspen and AVH, an initial team of 14 orthopaedic experts will be assigned from The Steadman Clinic team to deliver a full suite of exceptional orthopaedic services to the Aspen and Roaring Fork Valley communities.

Rich Gilbert, M.D., CEO of OCP stated, “This transaction represents the seventh new orthopaedic practice affiliation we have completed in the last 18 months. Our partnership with The Steadman Clinic has been phenomenal. We are excited to build upon this momentum now with Aspen Valley Hospital and Vail Health by bringing The Steadman Clinic’s internationally recognized surgeons and proven track record of providing the highest quality care and an exceptional patient experience to the greater Aspen community, making Aspen an international destination for world-renowned orthopaedic care.”

Dr. Philippon commented, “I have always envisioned an expansion into Aspen based upon the many patients I have treated from the Roaring Fork Valley. We began planning for this expansion several years ago. Now with our recent partnership with OCP completed last November and their operational and financial support, we are positioned to execute upon our growth strategy.”

Dr. Philippon continued, “OCP’s support has enabled The Steadman Clinic to maintain its commitment to provide state-of-the-art, patient-centric care. I look forward to ensuring that we deliver the same caliber of clinical and orthopaedic services in Aspen as we do in Vail. Add our commitment to research and education and we know this will be a relationship that benefits all involved.”

“What differentiates this partnership is the combination of the team of physicians, the cutting-edge research, and our strategic partner hospitals (Aspen Valley Hospital and Vail Health) that constantly pursue patient-centered medicine for their communities and individuals seeking destination orthopaedic care,” said Dan Drawbaugh, CEO of The Steadman Clinic and SPRI. “The Aspen community will benefit significantly from the combination of evidence-based medicine backed by SPRI’s scientific research, including clinical trials funded by the National Institutes of Health and the Department of Defense.”

Dave Ressler, CEO of Aspen Valley Hospital said, “The Vail Valley has long been a destination for renowned orthopaedic care, thanks to The Steadman Clinic. By combining The Steadman Clinic’s best-in-class patient care, the expertise of OCP, our hospital’s outstanding reputation, and Aspen’s visibility on the world stage, this partnership creates the ideal conditions for Aspen to join Vail as an international destination for world-class orthopaedic care. The transaction is a reflection of the true partnership with which OCP, The Steadman Clinic and Vail Health approached this strategic relationship.”

“Over the past three decades, the partnership between The Steadman Clinic, The Steadman Philippon Research Institute and Vail Health has been instrumental in developing world-class medical destinations in Vail, Edwards and our new facility being built in Summit County,” said Will Cook, President and CEO of Vail Health. “We are looking forward to bringing our expertise and knowledge in the medical destination realm to this new venture with Aspen Valley Hospital, a fellow independent mountain hospital.”

OCP is backed by Varsity Healthcare Partners (“VHP”), a lower middle-market healthcare services private equity investment firm with expertise in growing care provider platforms.

About Orthopedic Care Partners (OCP)

Orthopedic Care Partners (OCP) is the leading partner for high-performing, quality and patient-focused orthopedic surgery practices. OCP provides a full spectrum of services and enhanced resources to help its family of practices thrive and grow while fostering the unique identities that have made them so successful. To learn more, visit www.ocpmgmt.com.

About The Steadman Clinic

Headquartered in Vail, Colorado, The Steadman Clinic is a world-renowned orthopaedic clinic with additional facilities located in Frisco and Edwards, Colorado. The clinic specializes in sports medicine including knee, hip, shoulder, elbow, hand, spine, foot and ankle injuries and joint replacement. With 17 elite physicians who practice the latest, evidence-based treatments, The Steadman Clinic’s experience and research have led to significant advances in the fields of orthopaedics and regenerative sports medicine. The Steadman Clinic treats patients from all walks of life, including recreational and professional athletes from all over the world. To learn more, visit www.thesteadmanclinic.com.

About Steadman Philippon Research Institute

Steadman Philippon Research Institute (SPRI) is dedicated to keeping people of all ages physically active through orthopaedic research and education. With an enduring focus on applied clinical translation, SPRI is dedicated to discovering new therapies, treatments and cures that can be brought to patients in a clinical setting. We utilize the latest regenerative medicine techniques—basic science studies at the cellular level—to investigate the causes and effects of degenerative arthritis, techniques of musculoskeletal regeneration and healing processes. SPRI also utilizes state-of-the-art Biomotion and Robotics technologies, magnetic resonance imaging and 30 years of patient outcomes data in its bench-to-bedside approach to research. The 501(c)(3) charitable organization is one of the most published organizations in sports medicine research and education. To learn more, visit www.sprivail.org.

About Aspen Valley Hospital

Founded in 1891, Aspen Valley Hospital (AVH) is one of the most sophisticated rural hospitals in the country. With 25 beds, AVH is designated as a critical access hospital and level III trauma center, meeting the needs of the Aspen and Roaring Fork Valley communities, plus thousands of visitors from around the world every year. Combining the warmth and friendliness of a small town with the technical expertise of a major medical center, AVH and its Network of Care locations in Aspen, Snowmass Village and Basalt, have been recognized with numerous awards, including a Five-Star Rating from the Centers for Medicare and Medicaid Services, among others. AVH offers a full range of services with board-certified specialists in 25 fields of medicine, with expanded expertise in orthopedics and sports medicine. For over 129 years, Aspen Valley Hospital has been working to deliver extraordinary healthcare in an environment of excellence, compassion and trust. Learn more at www.aspenhospital.org.

About Vail Health

Vail Health is a nonprofit community health care system with 12 locations across Eagle and Summit counties. Vail Health offers a 56-bed hospital, 24/7 emergency care, helipad, urgent care clinics, cancer care, breast centers, cardiovascular services, surgery, childbirth, physical therapy through Howard Head Sports Medicine, primary and specialty care through Colorado Mountain Medical and more. Locally operated and governed by a volunteer board of directors, Vail Health has committed $60 million to the creation and oversight of Eagle Valley Behavioral Health and $43 million to evidence-based research through the Steadman Philippon Research Institute. For more information, visit www.vailhealth.org.

Contacts

Mickey Mandelbaum or Nick Rust

Prosek Partners

(212) 279-3115

mmandelbaum@prosek.com / nrust@prosek.com

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