A New State Capital Partners affiliate made a significant investment in Austin, Texas-based Capitol Pain Institute to support the expansion of its practice and surgery center.
Here are five things to know:
1. Matt Schocket, MD, founded Capitol Pain Institute in 2007 and grew the practice into six locations. The group focuses on the multidisciplinary approach to pain management with therapies such as spinal cord stimulation and medication management.
2. Capitol Pain Institute established the Center for Specialty Surgery of Austin in 2015 to offer pain management, neurosurgery, ophthalmology and podiatry. "With a national shift away from hospitals to ASCs, we recognize the potential to increase CPI's reach to patients who need safe and effective pain management options," said New State Capital Partners Founder David Blechman.
3. The terms of the investment were not disclosed.
4. CPI plans to use the investment for continued expansion. "The breadth of experience New State Capital brings, especially their focus on entrepreneurship and healthcare, will ensure we can continue to grow, adding to our quality medical team and our ability to serve a growing patient population," said Dr. Schocket.
5. The Bloom Organization and DLA Piper advised Capitol Pain Institute. Morgan Lewis advised New State Capital Partners.