Capitol Pain Institute Broadens its Reach in Texas with Latest Acquisition

CPI announces partnership with Balcones Pain Consultants extending its reach in Central Texas

NASHVILLE, Tenn. and AUSTIN, Texas (May 18, 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) has acquired Balcones Pain Consultants and Water Leaf Surgery Center. This partnership adds three clinics and one ambulatory surgical center (ASC) in the Austin metropolitan area to CPI’s national interventional pain management platform. CPI currently operates in six states: Colorado, Indiana, Kentucky, Minnesota, Ohio, and Texas.

The Austin metropolitan area was ranked as the fourth most desirable city for millennials in a 2021 study. Austin has grown 21% over the last decade and is now the 11th largest city in the United States. With over 20% of Americans suffering from chronic pain, the need for innovative and personalized treatment in the region is significant. At the same time, competition and inflationary pressures have driven private practices toward consolidation.

“We are excited to partner with Balcones Pain Consultants to help more patients in Central Texas who are battling chronic pain,” said CPI founder and CEO Matt Schocket, M.D. “Our combined expertise and resources will enable us to deliver innovative and quality care to our community and expand in Texas more broadly.”

Led by Matthew McCarty, M.D., Balcones Pain Consultants has locations in Austin, Cedar Park, and Marble Falls. “Partnering with CPI allows us to continue providing the quality care that our patients expect from us, while also granting us the resources that will enable future growth,” said Dr. McCarty. “We are excited to collaborate with CPI in expanding chronic pain treatment throughout the state.”

CPI and Balcones Pain Consultants offer an array of advanced techniques to treat chronic pain, including spinal cord and peripheral nerve stimulation, interspinous stabilization and fixation, SI joint fusion, Intracept, and other procedures with the goal of minimizing pain, improving function, and enhancing overall quality of life.

“Our investment in Balcones Pain Consultants furthers our commitment to building a leading national platform,” said Iron Path Capital co-founder Rob Reistetter. “We look forward to positively impacting our partners, patients and communities.”

“We see great potential in the Austin market,” said Iron Path Capital co-founder Scott Mraz. “Together, we look forward to strengthening our regional presence and expanding access to chronic pain care across the Southwest.”

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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

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

Iron Path Capital Contact:
Rob Reistetter, managing partner