Ability Prosthetics & Orthotics Inc. announced the acquisition via a cash free exchange of the Lexington, Ky. based prosthetics & orthotics provider BridgePoint Medical. BridgePoint’s four patient care centers located in Kentucky and North Carolina add to Ability’s five centers in Pennsylvania and Maryland, giving the new company a total of nine locations in the mid-Atlantic and further establishing the company’s footprint for growth in the region. Also included in the transaction is BPM Fabrication, a central fabrication facility located in Asheville, N.C. which provides services to numerous patient care centers throughout the mid-Atlantic region.
“This is a great acquisition on many levels,” Jeffrey Brandt, CPO, chief executive officer and founder of Ability P&O, stated in a press release. “Patients, employees, physicians, therapists and third party payers alike will benefit. Our premium provider model of care provides greater educational and product awareness-based clinic initiatives, streamlined administrative operations, increased outsourcing options for patient device selection and an overall shift towards managing the patient’s entire spectrum of related care.”
“Jeff and I have gotten to know one another over the past 4 years and one thing is clear — we have similar visions for the field of prosthetics and orthotics,” Clint McKinley, chief executive officer and founder of BridgePoint Medical, stated. “Both companies are poised for growth and the market timing could not be better. Our growth initiatives will be both organic and acquisition-oriented. We look forward to discussions with other providers in this space that share our vision to positively impact the delivery and management of orthotic and prosthetic care.”
McKinley will assume chief executive officer duties of Ability while Brandt will serve as president and chief operating officer. The acquired Kentucky practices will continue to operate under the name of Prosthetic and Orthotic Associates and the North Carolina practices will continue to operate as Asheville Orthotic Prosthetic Center and Charlotte Orthotic Prosthetic Center.