CHICAGO, IL – Sheridan Legacy Group (“Sheridan”), a Chicago-based lower middle-market private equity firm, announced today the addition of Laser Spine Institute (“LSI”) to its portfolio through a growth equity recapitalization.
LSI, headquartered in Tampa, FL, is a direct-to-consumer specialized outpatient surgery center focused on minimally invasive spinal surgery services. LSI operates four surgical centers located in Tampa, Florida, Scottsdale, Arizona, Philadelphia, Pennsylvania, and Oklahoma City, Oklahoma. LSI’s procedures and patient-centric approach provide better outcomes, faster recovery times, and at a lower cost than surgeries in a traditional in-patient setting.
“LSI has an exceptional track record of growth due to the company’s unwavering focus on the patient experience and a superior approach to spinal surgery. The Company and its surgeons consistently deliver superior outcomes, and the team has developed an unwavering focus and commitment to service at every level of the organization,” said Jonathan Lewis, Partner of Sheridan Legacy Group. “We are excited to partner with Bill Horne, Dotty Bollinger, and the entire management team to support the company’s ongoing success and accelerate its expansion initiatives throughout the U.S.”
Dotty Bollinger, President and COO of LSI, said, “Sheridan Legacy Group represents a great strategic partner for us. Their innate understanding of the direct-to-consumer approach to healthcare, operational focus, and strategic guidance for growing companies will help us leverage and expand existing operations while maintaining our focus on patient experience and preserving our unique corporate culture.” Bill Horne, Chairman and CEO also added, “We ultimately believe Sheridan’s insights will help us accelerate the roll out of our model across a broader geography and allow us to reach and positively impact the lives of even more people who continue to suffer from debilitating back pain.”
The transaction was led by Lewis, Mike Allietta, Sean Dempsey, David Jacob, and Chase Culbertson. Ernst & Young Capital Advisors LLC advised Laser Spine Institute on the transaction. Terms of the deal were not disclosed.
About Sheridan Capital Partners
Sheridan Capital Partners, headquartered in Chicago, Illinois, focuses on making private equity investments in leveraged buyouts, recapitalizations and large minority financings of growing lower middle market growth companies with enterprise values between $20 million and $150 million within the healthcare and consumer sectors.
Jonathan Lewis, Partner