CPI enters the Colorado Springs market, establishing a new state hub in its national platform
NASHVILLE, TENN. and COLORADO SPRINGS, CO. (March 30, 2023) – Iron Path Capital, a private equity firm focused on building differentiated businesses in the healthcare and specialty industrials sectors, is pleased to announce that Capitol Pain Institute (CPI) is expanding its footprint to Colorado through four new acquisitions: Springs Rehabilitation, Spinal Diagnostics and Regenerative Medicine, The Peak Physical Medicine, and The Ascent Surgery Center. These partnerships mark CPI’s first entry into the state of Colorado and allow the partner physicians to both consolidate into one location serving Colorado Springs and expand into the growing Denver corridor. CPI currently has clinics and ambulatory surgical centers (ASCs) across Texas, Ohio, Kentucky, and Indiana. The Colorado entry marks CPI’s expansion into the fifth state in their national platform.
“We are excited to enter the Colorado Springs market with our newest acquisitions,” said CPI founder and president Matt Schocket, M.D. “It’s important to find the right partners as we continue to expand, and we’re proud to include these three practices, led by physicians that all have a long history and strong track record of treating chronic pain in Colorado Springs. These additions will help us achieve our collective goal of providing quality patient care on a broader scale,” said Schocket.
“Finding new and innovative ways to help make our patients’ lives better is a continuous journey,” said Kenneth Finn, M.D. of Springs Rehabilitation. “I look forward to working with Dr. Schocket and the CPI team, as they support our initiatives to ensure patients are getting high quality care in their communities.”
Colorado has seen an influx in growth in recent years, with more than 760,000 new residents calling the state home over the last decade, according to the U.S. Census Bureau. With one in five Americans suffering from chronic pain, the need for new treatment options in the state is rapidly growing. For the newly joined practices, partnering with CPI allows them to continue their physician-leadership model while enjoying the benefits of the overall CPI platform including improved revenue cycle management capabilities, group purchasing agreements, insourced ancillaries, diversified service offerings including advanced surgical procedures, and overall stability with scale.
“It’s an energizing time to practice in this forward-looking field of interventional pain management, which is why we decided to partner with CPI,” said Mark Meyer, M.D. of Spinal Diagnostics. “It’s important to always keep the interests of the patient first and foremost, which is what drew us to this partnership with Capitol Pain Institute. We share the same values and goals and together we can make a difference in the way patients receive their individualized treatment plans.”
Chronic pain can be debilitating especially for the aging population, but interventional procedures and new advancements offer relief to many patients. CPI and the newly acquired practices offer a comprehensive range of services across the advanced interventional pain management spectrum. These can range from non-operative approaches such as sports medicine, to trigger point and joint injections, to more advanced procedures conducted at the Ascent Surgery Center, such as the implantation of spinal cord stimulators or intrathecal pain pumps.
These new partnerships allow CPI to offer expanded medical services within the same convenient network.
“This new partnership exemplifies the commitment we have toward empowering patients to become an active participant in their recovery process,” said Timothy Sandell, M.D. of The Peak Physical Medicine. “As we all come together with this new venture, we’ll be able to deliver more options and focus on giving our patients holistic access to high quality care,” said Dr. Sandell.
“Today marks an exciting chapter as we accelerate our mission and continue finding the right talent and collaborations to expand our chronic pain treatment platform nationwide,” said Iron Path Capital co-founder Scott Mraz. “We look forward to providing beneficial resources to our partners, patients, and communities we serve. We are thrilled to embark on this journey with our new partners and look forward to the future and the difference we can make.”
About Capitol Pain Institute
Capitol Pain Institute (CPI) is a leading interventional pain management platform with clinics and ambulatory surgical centers across the United States. CPI offers a customized and multi-disciplinary approach to chronic pain treatment, with particular focus on advanced procedures such as spinal cord stimulator implants. CPI partners with physicians and practices that share a common goal of providing high quality, compassionate care at a reasonable cost. The company is also committed to enhancing the communities in which they serve and investing in the advancement of the field of pain management through innovation and evidence-based medicine. CPI was founded by Dr. Matthew Schocket in Austin, Texas in 2007. For more information, visit CapitolPain.com.
About Iron Path Capital
Iron Path Capital is an operationally focused private equity firm focused on lower-middle-market investments across the healthcare and specialty industrial sectors. With offices in Nashville, TN and Charlottesville, VA, Iron Path Capital supports its partners with capital, operating expertise, business development, and industry relationships to achieve significant scale. Iron Path Capital selects companies with stable cash flows, superior management teams, strong performance trajectories, and multiple vectors for growth, both organic and through consolidation. For more information, visit ironpathcapital.com.
Iron Path Capital Contact:
Rob Reistetter, managing partner