Merritt Healthcare Advisors (“MHA”) is pleased to announce a new partnership between Kansas Spine & Specialty Hospital (“KSSH”) and Surgery Partners (“SP”). Surgery Partners has acquired a majority interest stake in Kansas Spine & Specialty Hospital and its’ on-site Pain Center. In a separate, but concurrent transaction, the real estate housing KSSH was sold to a third-party, a transaction led by HREA.
Kansas Spine & Specialty Hospital’s CEO Tom Schmitt stated, “While we remain very proud of the way Kansas Spine has served our neighborhoods and communities, we are confident that after an exhaustive diligence and selection process we have found a management partner that will bring the same robust commitment to our patients and employees with an even greater capacity for growing patient services. Further, this transaction could not have been possible without the persistence of the Merritt team. We are grateful to have had their knowledge and expertise every step of the way.”
Christopher Stai, the Managing Director of HREA stated “What made this transaction more nuanced was the planned joint venture with Surgery Partners, which occurred simultaneously with the sale of the real estate. We worked closely with their advisor, Merritt Healthcare Advisors, to accomplish a successful outcome for both the real estate and the merger.”
“Merritt is pleased to announce the formation of this new partnership. The physicians and top-tier leadership at KSSH have built not only a spectacular business, but one that is well-positioned to provide high-quality, low-cost care to patients for many years”, said Chris Carlesi, Vice President at Merritt Healthcare Advisors.
About Kansas Spine & Specialty Hospital
Founded in 2003, Kansas Spine & Specialty Hospital is a spine, neck and joint focused physician-owned hospital with 35 licensed in-patient beds, seven (7) operating rooms, two (2) procedure rooms located in Wichita, Kansas. With a track record of sustainability, superior performance and a market proven enterprise, it’s reputation proceeds itself. KSSH is an award-winning hospital whose focus on clinical excellence helps drive high patient satisfaction and overall business success. KSSH has accumulated many accolades over the years including, Top-100 Best Spine Surgery Excellence Award for Hospitals (2020, 2021, 2022)1, Top-32 Best Physician Owned Hospitals1, 100-Best Hospitals for Spine & Neurosurgery Excellence Award (2017, 2022)2, Patient Safety Excellence Award (2019, 2020, 2021)2 and America’s Best Hospitals for Joint Replacement Award (2021, 2022)2. The Hospital provides a comprehensive diagnostic center, an array of treatment modalities, highly trained surgeons, advanced imaging technology and one of the nation’s first digital records and charting systems. Additionally, KSSH has a Pain Center located on the west side of the hospital’s campus inside the Abay Medical Plaza (Neuroscience Center), giving patients convenient access to an unparalleled level of care. The Pain Center is a regional Center for the diagnosis and treatment of chronic and acute pain with intervention techniques used as an alternative to opioids. For additional information on Kansas Spine & Specialty Hospital please visit https://www.ksspine.com.
About Merritt Healthcare Advisors
Merritt Healthcare Advisors (“MHA”) is focused exclusively on representing owners of surgical facilities and healthcare practices that are considering strategic options, whether it is selling an interest in their organization, creating a new partnership or growing through acquisition. MHA is unique in that we are the only firm that combines an investment banking background with actual “owners” experience that comes from developing and managing our own healthcare facilities. We have used this experience to successfully complete more than $5 billion in transactions on behalf of our Clients. As the industry’s leading Mergers and Acquisitions (“M&A”) firm, our proven process and extensive buyer network enables us to help our Clients realize the absolute best financial and non-financial outcomes. The Principals of Merritt acted in their capacity of licensed investment banking agents of Burch & Company, Inc., member FINRA/SIPC. For additional information on Merritt Healthcare Advisors please visit www.merrittadvisory.com.
About Surgery Partners
Headquartered in Nashville, Tennessee, Surgery Partners is a leading health services company with a differentiated outpatient delivery model focused on providing high quality, cost-effective surgical care in support of patients, physicians and overall health care value. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with more than 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals and multi-specialty physician practices. For additional information on Surgery Partners, please visit https://surgerypartners.com.
1 Becker’s Hospital Review