US Foot & Ankle Specialists Acquires Affiliated Podiatrists to Expand Foot and Ankle Care Services

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that US Foot & Ankle Specialists (USFAS), a portfolio company of NMS Capital, has announced the acquisition of foot care services provider Affiliated Podiatrists. Specific financial terms of the transaction were not disclosed.

Affiliated Podiatrists, headquartered in Newport News, Virginia, is a private podiatric care practice founded by Dr. Howard Seltzer in 1942 on the Korean Peninsula. The company is currently led by Dr. Howard Roesen, Dr. Seltzer’s grandson. Dr. Roesen is a board-certified foot and ankle surgeon by the American Board of Foot and Ankle Surgery, a member of the American Podiatric Medical Association and the Virginia Podiatric Medical Association, and a Fellow of the American College of Foot and Ankle Surgeons.

Following the completion of this acquisition, Dr. Roesen will continue to lead the company with the support of USFAS.

Since 1992, Affiliated Podiatrists has been providing comprehensive foot and ankle care services to patients of all ages. In Virginia, the clinic offers more than just simple treatment for foot and ankle pain; it provides high-quality, lifelong foot care services. From infants to elderly patients, nearly all types of foot and ankle conditions can be addressed at Affiliated Podiatrists. The practice operates three branch clinics located in Newport News, Hampton, and Carrollton, Virginia.

USFAS is a subsidiary of Foot & Ankle Specialists of the Mid-Atlantic and NMS Capital (NMS). As a leading provider of podiatric care services, USFAS is committed to delivering comprehensive treatment solutions for patients with foot and lower extremity conditions.

Headquartered in Rockville, Maryland, USFAS operates nearly 40 offices across Maryland, Virginia, Pennsylvania, North Carolina, and Washington, D.C. The company employs more than 60 board-certified podiatrists who provide a diverse range of medical services to patients. USFAS is currently planning a nationwide expansion.

Brett Richey, CEO of USFAS, stated, “Dr. Roesen is a respected podiatrist with an outstanding clinical reputation. This acquisition enables USFAS to rapidly establish scale in the attractive podiatric care market and expand our presence in Virginia. Furthermore, our partnership with NMS provides the resources and strategic support necessary to forge collaborations with leading clinics and other healthcare institutions in both existing and new markets, positioning USFAS as a leader in the podiatric care industry.”

Dr. Howard Roesen stated, “I am delighted to partner with USFAS. As the leading podiatric care platform in the Mid-Atlantic region, USFAS will enable us to provide better care services to our patients.”

Upon completion of this acquisition, AP will provide USFAS with administrative and financial support, specifically in the areas of clinical compliance, information technology, electronic health records, revenue cycle management, payer credentialing and contracting, finance, human resources, and business development.

NMS Capital is a New York-headquartered private investment firm established by a group of portfolio companies spun off from Goldman Sachs’ commercial banking division. The company focuses on strategic equity investments and acquisitions in mid-to-lower market companies in North America, with primary investment areas including healthcare services and business services.

NMS Capital primarily makes equity investments ranging from $10 million to $50 million, typically targeting private companies with an enterprise value of less than $150 million and revenues between $25 million and $150 million.

(Compiled by Tang Lulu)