Spindletop Pain Holdings and Tricity Pain Completes Acquisition of Advanced Consultants in Pain Care

SAN ANTONIO and AUSTIN, Texas., Nov. 5, 2019 /PRNewswire/ -- Spindletop Pain Management Holdings, LLC and Tricity Pain Associates, P.A. a leading provider of pain management services, announced that it had acquired Advanced Consultants in Pain Care (ACPC) and the Interventional Practice of Dr Darius Zagunis.  Located in the Stone Oak area of San Antonio, TCPA and ACPC will continue to provide a multi-disciplinary approach for broad range of Pain Patients in San Antonio area.  Spindletop Pain Management Holdings partnered with Tricity Pain Associates in 2018 to build a leading integrated platform in pain management services. The organization has 27 providers across 17 clinics, including three ASCs in Texas. 

Tricity Pain Associates is a leading provider of integrated pain management care, ambulatory surgery centers, and ancillary patient treatment across Texas.  This investment is another in a series of acquisitions by Spindletop Capital to develop a premier national provider of pain management services. SCM's and TPA's joint mission is to create the leading provider of pain management care, consolidating providers of the highest quality pain management, physical medicine, and rehabilitation (PM&R), sports medicine, and addiction medicine with integrated ancillary treatments across the region. Spindletop has an established network of seventeen clinical locations and ambulatory surgery centers in the San Antonio metro as well as New Braunfels, Corpus Christi, Austin, Dallas, and Houston.  The new partnership will grow through the acquisition of independent pain management practices, the opening of new clinical sites and acceleration of the Company's recruitment efforts.

Dr. Urfan Dar, CEO of Tricity Pain Associates, commented, "The physicians of TCPA are tremendously excited about our growth and partnership with ACPC and Dr. Zagunis. The fact that Dr Zagunis is top-notch physician and will be able to provide continued multidisciplinary care in Stone Oak and surrounding San Antonio market enables us to care for a broader group of patients providing needed quality interventional pain care with limited use of opioid medications."

"The future of pain management lies with an integrated, multi-disciplinary approach to providing care," noted Dr. Evan Melrose, Founding Managing Director of Spindletop Capital. He continued, "Dr. Zagunis and his colleagues will enable our organization to provide high-quality care to our patients. He shares our vision of a comprehensive multi-modality approach to pain management. We look forward to our partnership with Dr. Zagunis and ACPC. By aligning interests with our patients and providers, we enable our physicians to remain clinically independent but leverage the resources of the Spindletop organization."

Physician Growth Partners and Patzik, Frank & Samotny were advisors to ACPC. McDermott Will & Emery provided legal counsel to SCM.

In May, Spindletop Capital Management announced plans to invest another $100M into the growing field of Interventional Pain Management. This summer, Spindletop announced the acquisition of the VIP Surgical Center, an ambulatory surgical center (ASC) in Conroe, Texas (North Houston Metropolitan Market), and the launch of Phase Four Physiotherapy across Texas. Led by physicians with decades of operating and investment experience, the Spindletop team is uniquely equipped to provide expertise and infrastructure to support physicians and enable them to continue to provide high-quality care. By aligning interests with patients and providers, Spindletop enables physicians to remain clinically independent but leverage the resources of the Spindletop organization.

About Spindletop Pain Management Holdings
Founded in San Antonio, TX in 2018, Spindletop Pain Management Holdings partnered with Tricity Pain to become the leader in pain management. The company's mission is to create the leading provider of pain management care, consolidating providers of the highest quality Interventional pain management, physical medicine and rehabilitation (PM&R), sports medicine, and addiction medicine with integrated ancillary treatments across the region.  

For more information, visit www.tricitypaindoc.com.

About Spindletop Capital Management
Spindletop Capital, founded in 2011, is a healthcare investment firm focused on providing expansion capital for commercial-stage healthcare companies. Based in Austin, Spindletop is managed by an unrivaled team of investment professionals and advisors with deep operating, technical, and transactional experience. Spindletop Capital leverages the organization's deep experience, broad network, and proprietary access to Texas resources to enhance value for management teams and financing syndicates. Spindletop Capital invests nationally across all sectors of healthcare, including medical devices, diagnostics, healthcare services, healthcare IT, specialty pharmaceuticals, and biotechnology.

For more information, visit www.spindletopcapital.com

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