Tricity Pain Associates Announces Acquisition Of The VIP Surgical Center And Expansion Into The Greater Houston Area

SAN ANTONIO, July 8, 2019 /PRNewswire/ -- Spindletop Pain Management Holdings, LLC and Tricity Pain Associates, P.A. a leading provider of pain management services, announced that it has acquired the VIP Surgical Center, an ambulatory surgical center (ASC) in Conroe, Texas (North Houston Metropolitan Market).  Spindletop Pain Management Holdings partnered with Tricity Pain Associates in 2018 to build a leader in pain management services.  The practice has 19 Pain Management providers across 13 clinics, including three ASCs in Texas.  Tricity Pain is growing into the Houston market with the acquisition of VIP Surgical Center.  Initially, Tricity Pain plans to have three board-certified interventional pain specialists and orthopedic surgeons at VIP Surgical Center to provide an integrated, multi-disciplinary approach to pain management. The surgery center will partner with commercial and value-based health plans to provide an excellent patient experience and high-quality care at a lower cost.

Urfan Dar, CEO of Spindletop Pain Management Holdings and Tricity Pain Associates, states, "We are proud to announce the acquisition of VIP Surgical Center. VIP is a first-class center that utilizes the latest technology to allow our physicians to provide exemplary treatment options to our patients.  In addition, we expect to offer a bundled payment option for outpatient total joint replacement procedures, one of the first in the Houston market." He also stated, "We plan to partner with payors, employers and teams of physicians to provide value-based care. Value-based healthcare within specialty care, especially orthopedic surgery and interventional spine procedures, favor payments based on episodes of outpatient treatment and drive high quality of care at reduced costs."

"Management of chronic pain has become one of the highest costs for the healthcare system today. We believe that there are significant opportunities to improve quality of care and lower costs through minimally invasive procedures and leveraging non-opioid dependent care modalities. 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, "The Spindletop team is uniquely equipped to provide expertise and infrastructure to support TPA's physicians and enable them to continue to provide high-quality care. By aligning interests with our patients and providers, we enable our physicians to remain clinically independent but leverage the resources of the Spindletop organization."

In May, Spindletop Capital Management announced plans to invest another $100M into the growing field of Interventional Pain Management.

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.          

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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