The new partnership represents a continuum of Novum’s strategy to build a network of like-minded, entrepreneurial orthopedic practices and surgery centers in Texas and across the U.S.
DALLAS – Novum Orthopedic Partners (Novum), a leader in orthopedics and spine practice management, has made a strategic investment in Dallas-Fort Worth-based North Texas Orthopedics & Spine Center (NTO), one of the regions most respected orthopedic practices. NTO delivers a full suite of musculoskeletal services, including orthopedic consultation, surgeries, pain management, diagnostic imaging, and physical therapy through an integrated care network.
“Novum’s footprint in the Dallas-Fort Worth region is rapidly growing, and we see an opportunity to operationalize our practice in a way that delivers more value to our patients, physicians, and leadership team,” said Lora Fulmer, Chief Executive Officer at NTO. “By joining Novum, we expect to streamline burdensome administrative tasks for our staff, especially in areas such as billing and compliance, while providing our physicians with real-time operational and clinical benchmarks to improve patient outcomes and overall practice performance.”
“Novum’s ability to deliver value to practice providers and improve the patient experience are just two reasons we joined the Novum team,” added Dr. Michael Briseño, President and Spine Surgeon at NTO. “Our physician group is excited to enter into this new era of medicine while partnering with Novum and their growing bench of outstanding orthopedic providers and support networks.”
The investments are a continuum of Novum’s strategy to partner with like-minded, entrepreneurial orthopedic practices across the U.S. The model provides practice partners with a full suite of technology-enabled compliance, revenue cycle and financial services that can improve operational efficiency and empower physicians to deliver best-in-class clinical care. With the closing of NTO, Novum has expanded its practice management platform to include 47 orthopedic and spine physician partners and more than 400 employees across 10 practice locations, 3 affiliated surgical facilities and 10 physical therapy sites in Texas.
“We’ve developed an attractive, fast-growing model centered around delivering technology-enabled infrastructure and outstanding personnel,” said Eric Slimmer, Novum’s Chief Development Officer. “The model empowers independent orthopedic practices to remain locally managed and physician-led while equipping them with data-driven solutions that create a better experience for patients and physicians.”
“We are excited to welcome the NTO team to the Novum partnership,” said Alex Sacripanti, Vice President at AMCP. “NTO’s commitment to best-in-class clinical quality, together with Novum’s access to resources and our capital investment, creates a powerful partnership to grow and expand Novum in the highly attractive Texas market. We are thrilled to partner with their team of providers.”
About North Texas Orthopedics & Spine Center
Since 1990, North Texas Orthopedics & Spine Center has been committed to providing its patients with the highest level of compassionate, specialized orthopedic and sports medicine care. Recognized as the region’s preferred orthopedic practice, NTO’s specialists are leaders in the diagnosis and treatment of the musculoskeletal system, offering surgical and nonsurgical treatments for every bone, joint, muscle, tendon, and ligament injury and condition, including arthritis of the knee, ankle sprains, and hip fractures. To learn more, please visit www.ntxortho.com.
About Novum Orthopedic Partners
Novum Orthopedic Partners is an innovator in the field of orthopedic practice management. The Company’s model allows for practices of all sizes to maintain local autonomy and independence while achieving the benefits of scale in a national team setting. Novum’s strategy, structure and time-tested model are designed to meet future demands and deliver sustained growth. For more information, please visit www.novumortho.com.
About A&M Capital Partners
A&M Capital Partners (“AMCP”) is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America, with total assets under management of over $2.9 billion. AMCP partners with founders, corporations and management teams to provide the capital and strategic assistance that it believes is required to take businesses to the next level of success. AMCP invests in businesses across a wide range of sectors, including Industrial Products, Consumer Products and Services, Healthcare, Business Services and Government Services.
About Alvarez & Marsal Capital
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $4.2 billion in total assets under management across four funds and three investment strategies. The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally focused advisory firms in the world. AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.
About Alvarez & Marsal
A&M is a privately-owned independent global professional services firm that leverages an industry leading group of experienced operating executives who help businesses improve performance, solve problems and unlock value for stakeholders. A&M has over 6,000 operating professionals and employees in 67 offices across North America, Europe, the Middle East, Asia and South America. A&M has expertise across all major industry sectors and extensive functional capabilities in nearly all primary areas of a business enterprise including, among others, operations, revenue enhancement, sales and marketing, manufacturing, IT, finance, working capital management, supply chain and logistics, real estate, human capital management, merger integration and carve-out support.
Chief Development Officer