Spindletop Capital Management acquired San Antonio-based Tricity Pain Associates and Interventional Pain Associates.
Here's what you should know.
1. Tricity has a combination of 11 pain management practices and surgery centers across Texas.
2. This is Spindletop's first in a series of acquisitions. The company is attempting to establish itself in the healthcare space.
3. All of Tricity's physicians will remain with the organization and will become significant shareholders in the new company.
4. Spindletop plans to use its resources to aggressively expand the company's presence across Texas.
5. Tricity Pain Associates CEO Urfan Dar, MD, said, "The physicians of TPA are tremendously excited about our growth partnership with Spindletop. The fact that the Spindletop team is led by physicians who still see patients resonated with my team and me. Spindletop brings deep clinical expertise and a demonstrated track record of success in physician practice management as investors, operators and clinicians."