Here are five things to know:
1. Provident Healthcare partners served as Southeastern Spine Institute’s advisor during the transaction.
2. Candescent has a reputation of leading consolidation among subspecialist physicians. “With the leadership at SSI, we expect this partnership to experience tremendous growth in the orthopedic and spine market within South Carolina and beyond,” said Provident Analyst Robert Aprill.
3. Southeastern Spine Institute occupies a 41,000 square feet campus that includes an MRI, digital X-ray, treatment rooms and a physical therapy center.
4. The terms of the transaction weren’t disclosed.
5. Candescent focuses on acquisition, growth and recapitalization of lower middle market healthcare companies and reports an annual EBITDA between $2 million and $8 million.
