MOUNTAIN VIEW, Calif., Oct. 4, 2012 /PRNewswire/ -- Prospira PainCare today announced the signing of a definitive agreement to purchase Bay Area Pain & Wellness Center ("BAPWC"), a leading pain management physician practice in the San Francisco Bay Area. The acquisition of BAPWC follows a similar transaction consummated in August in which Prospira PainCare acquired The Spine Center of Southeast Georgia ("SCSG"), a comprehensive neurosurgery and pain management practice located in coastal Georgia, and the affiliated Brunswick Pain Treatment Center ("BPTC"), an ambulatory surgery center dedicated to pain procedures.
Dr. Barry Karlin, Chairman & CEO of Prospira PainCare said, "Prospira is honored to welcome Drs. Peter Abaci and John Massey (the two principal pain physicians at the Bay Area Pain & Wellness Center), and Drs. Gary Kaufman and Mark Gold (principal physicians at the Spine Center of Southeast Georgia & the Brunswick Pain Treatment Center), to the growing and dedicated Prospira team. The acquisition of Bay Area Pain & Wellness Center, The Spine Center of Southeast Georgia, and Brunswick Pain Treatment Center, and our partnership with Drs. Abaci, Massey, and Kaufman & Gold is a vital step in our strategy of building a nationwide network of high quality pain management physician practices."
BAPWC is an outstanding pain practice and a clinical powerhouse in functional restoration (getting chronic pain patients back to work as quickly as possible) that has energized this industry. With a focus on managing the multi-disciplinary chronic pain model, BAPWC endeavors to restore its patients to a more active lifestyle, with improved quality of life and functionality. SCSG and BPTC have a similar philosophy with an unusual strength in spinal care and treatment with the physicians being double Board certified in neurosurgery and pain.
Dr. Peter Abaci added, "Over the years, the Bay Area Pain and Wellness Center has taken a leading role in transforming the lives of those suffering with pain through our innovative award-winning programs, focused on restoring the mind and body, our national presence on WebMD, The Huffington Post and publishing the acclaimed Take Charge of Your Chronic Pain. Joining the team at Prospira gives us an ideal platform where our shared vision can help change the lives of an estimated 116 million Americans who need the care that Prospira is committed to delivering." Dr. Gary Kaufman further commented that "the experience & track record of Prospira PainCare's management team (in building the nation's leading behavioral healthcare company) gave us tremendous confidence that Prospira will deliver on its promise to provide world class treatment across the country."
Prospira PainCare states that the purchase of BAPWC, SCSG and BPTC are a perfect fit for its growth model that seeks to acquire and partner with pain practices that are well established in their communities and have demonstrable records of clinical excellence. These acquisitions, with footprints on both the west and east coasts, not only demonstrate Prospira PainCare's dedication to the advancement of pain management ideals, but also evidence our commitment to building the premiere pain management company in the USA.
Prospira PainCare was co-founded earlier this year by Barry Karlin (formerly Chairman & CEO of CRC Health Group, the nation's largest behavioral healthcare company) and Pulse Equity Partners (a newly formed private equity firm specializing in health & wellness). The company is funded by a strong group of private equity investors including Enhanced Equity Funds as the lead investor, as well as Pulse Equity Partners, Webster Capital and Dr. Karlin personally.
About Prospira PainCare
Prospira PainCare, located in Mountain View, California was founded in August 2012. Prospira PainCare partners with world class interventional pain management physicians and rehabilitation specialists. Prospira affiliated physician practices provide a comprehensive program in which clinical professionals from a variety of disciplines work together in an integrated manner to achieve common treatment goals. Our multidisciplinary approach to pain care is designed to effectively improve our patients' quality of life and overall health. Our professional staff takes pride in offering outstanding patient service and a full spectrum of care that is personalized for each individual we treat. For additional information, please visit www.prospirapc.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE Prospira PainCare