Intra-Op Monitoring Services Completes Acquisition of Neuraxis Monitoring Group
COVINGTON, LA – July 30, 2009 – Intra-Op Monitoring Services, LLC and its wholly-owned subsidiaries (“IOM”), a leading provider of highly specialized intra-operative neurophysiological monitoring capabilities in 13 states, announced today that it has acquired a 100% interest in Neuraxis Monitoring Group, LP (“Neuraxis”).
Neuraxis is a clinical diagnostic services company offering intra-operative monitoring capabilities to surgeons and hospitals in the San Antonio, Texas area. The Company ownership includes physicians of Ear Medical Group led by CEO Paul Trevino. “IOM is an ideal fit for Neuraxis. The two have a powerful synergy which will greatly enhance their ability to better serve their customers,” remarked Mr. Trevino. The acquisition will give IOM a leading market share in the San Antonio area.
“We are thrilled to welcome the Neuraxis team to IOM. The many years of experience and neurosurgeon relationships they bring will strengthen our presence in the Texas market,” said IOM Chief Executive Officer Rod Johnson.
IOM’s ownership includes HealthEdge Investment Partners, LLC, Concentric Equity Partners and the management team.
About Intra-Op Monitoring Services
IOM is a clinical diagnostic services company offering highly specialized intra-operative neurophysiological monitoring capabilities. The Company utilizes advanced electrophysiological modalities to monitor and record the functional integrity of critical neural structures (brain, nerves, and spinal cord) and organs in real-time during surgeries where these potentially could be at risk. The goal of neuromonitoring is to prevent permanent damage to nervous system structures during high-risk surgeries by identifying impending damage to the nervous system and alerting the surgeon to this potential damage so that corrective action can be taken. Using advanced, state-of-the-art monitoring techniques and technology, IOM’s team of technicians and neurologists provide improved outcomes to a broad range of surgery types, including orthopedic, neurosurgical, otolaryngological, vascular, spinal, cardiothoracic, and interventional radiological procedures. For more information on IOM, visit www.iomservices.com.
About Concentric Equity Partners
Concentric Equity Partners is a private equity firm based in Chicago, IL which invests in business, financial and healthcare services companies. Concentric provides capital and experience to profitable growth businesses run by outstanding management teams. The firm’s approach is to support entrepreneurs with capital, operating expertise and industry knowledge. Concentric’s principals have distinguished track records as operators and professional investors in a variety of growth oriented middle market companies. Concentric is the direct investing arm of Financial Investments Corporation (“FIC”), a private asset management firm with over $650 million in private equity commitments under management. For more information on Concentric, visit www.fic-cep.com.
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
For more information, please contact Rod Johnson at (866) 845-4595.