FOI Reports Record Growth Adding 12 Physicians In 2021
Tampa, Florida – January 24, 2022 – Florida Orthopaedic Institute (“FOI”), the largest orthopedic practice in Florida, added 12 physicians in 2021, making it the 12th largest orthopedic practice in the country with 101 total physicians.
While the national healthcare landscape pieces itself back together due to the COVID-19 pandemic, FOI continues to gain market share and expects to serve over 145,000 patients at 23 locations across central Florida.
Headquartered in Tampa, FOI is a top ranked provider of orthopedic care by U.S. News and World Report. In addition to its core musculoskeletal services, FOI has developed a fully integrated ancillary service line including surgery centers, physical therapy, imaging, pharmacy, and clinical research. To support its 160 providers, FOI operates a central business office with more than 750 professionals who provide solutions for service line development, finance and accounting, revenue cycle, IT, human resources, legal, compliance, data analytics, and value-based care and managed care contracting services.
Since partnering with MD Healthcare Partners (“MDHP”) in 2019, FOI has more than doubled in size both by provider count and by revenue through organic and acquisition-based expansion. “The growth is a direct result of building upon FOI’s reputation of clinical excellence”, added Mike Doyle, Chief Executive Officer of MDHP and FOI. “While MDHP provides the financial and managerial resources to exemplify growth, it’s what FOI represents clinically that makes it the orthopedic partner of choice for all stakeholders.”
FOI physicians are known nationally for their work in orthopedic surgery and have been named among the best orthopedic physicians in America. This is accomplished through sub-specialization, continuing scientific and clinical research to enhance the art and science of orthopedic surgery, and by providing orthopedic education through courses and lectures, journal publications, fellowship, and residency training.
Dr. Roy Sanders, President of FOI, explained, “FOI has been fiercely independent for over 30 years by being an employer of choice for some of the country’s top new and established physicians alike. In today’s everchanging healthcare environment, my partners and I knew that we needed a capital partner to thrive for the next 30 years. What has made this partnership successful is alignment from the start around physician leadership and clinical independence. MDHP didn’t just embrace the notion, they required it.” Mr. Doyle added, “Having worked with orthopedic surgeons throughout my career both as a physical therapist and as a surgery center operator, I strongly believe the complexities of the specialty will require a different approach to scale successfully.”
The vision for FOI is to build the country’s preeminent orthopedic practice management company by prudently building a network of the top orthopedic practices in the nation. That growth in turn will further the evolution and preservation of physician independence through private practice. All FOI partner practices share common values and objectives while benefiting from increased scale and expanded service lines but retain the ability to operate independently from one another on a day-to-day basis.
FOI is currently in discussions with several potential partner practices in Florida and throughout the U.S.
ABOUT MD HEALTHCARE PARTNERS
MD Healthcare Partners is a flexible and innovative capital solution for healthcare providers looking for an engaged growth partner. Collectively our team brings a wealth of healthcare experience as care providers, operators, and investors who have completed over 80 transactions representing over $2 billion in value. For more information on MDHP, please visit www.MDHealthcarePartners.com.
For more information on MD Healthcare Partners, please contact:
Mike Doyle
Chief Executive Officer
Charles Davis
Managing Partner
MD Healthcare Partners, LLC
4200 W. Cypress Street, Suite 630
Tampa, Florida 33607
(813) 670-3143
www.mdhealthcarepartners.com