New York, NY, February 23, 2023 – U.S. Foot & Ankle Specialists, LLC (“USFAS”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired Foot and Ankle Specialists, P.C., which operates two clinics in Michigan, Podiatry Inc., which operates four clinics in Ohio, and Bethel Foot and Ankle, which operates a clinic in Connecticut.
Foot and Ankle Specialists, P.C. is dedicated to providing superior foot and ankle care to patients of all ages. The practice believes that prompt diagnosis, early intervention, and prevention are essential in the care and treatment of every podiatric condition. The practice operates two state-of-the-art offices in Monroe and Lambertville, MI, where its talented team provides a full range of podiatric medical care, including both conservative and surgical therapies.
Dr. Scott Hughes is a graduate of the Ohio College of Podiatric Medicine and completed his post graduate training at New Haven Foot Surgeons. Dr. Gregory Vogt graduated from the Ohio College of Podiatric Medicine before completing his surgical residency at the St. Louis VA Hospital in Missouri. Dr. Christine Tumele graduated from the Ohio College of Podiatric and completed residencies at the St. Louis VA Hospital in Missouri and at the National Naval Medical Center in Bethesda, Maryland.
“Our team is looking forward to a partnership with USFAS and the many advantages that it will bring to our practice,” says Dr. Scott Hughes. “There’s a proven track record of practice innovation behind USFAS, and we’re eager to take advantage of that experience and apply it to our operations. This is an investment not only in our ability to deliver a higher standard of care, but for the long-term success of our growing practice.”
Podiatry Inc. is the largest podiatry group in Northeast Ohio and is fully-equipped to service a wide range of foot and ankle care needs. The practice boasts a full team of board-certified podiatrists, each with a unique specialty that brings diverse experience to the practice. Podiatry Inc. is also equipped with the newest industry innovations, including 3-D imaging for creating custom orthotics, MLS laser, and in-house digital X-Ray. The practice prides itself on its ability to serve patients of all ages across foot and ankle conditions.
Dr. Joe Favazzo is a graduate of the Ohio College of Podiatric Medicine who completed his residency at University Hospital in Richmond Heights, Ohio. Dr. Andrew Diller graduated from the Ohio College of Podiatric Medicine before completing his residency at Cleveland Clinic (formerly Kaiser Permanente) in Ohio. Dr. Jason Kelty obtained his doctorate from Kent State University College of Podiatric Medicine before completing his residency at Sisters of Charity Hospital in Buffalo, New York. Dr. Amber Fioritto is a graduate of Kent State University College of Podiatric Medicine who completed her residency at Louis Stokes Cleveland VA Medical Center in Ohio. Dr. Katie Neidecker graduated from New York College of Podiatric Medicine before completing her residency at Geissinger Community Medical Center in Scranton, Pennsylvania.
“Our practice thrives on innovation, and we’re consistently looking for new opportunities to better serve our patients by uplifting the delivery of our care. This year, that next step involves a partnership with USFAS,” says Dr. Joe Favazzo. “We’re excited for what the future will bring, largely because we can see a clear path forward for practice innovation and the many benefits that follow it. We’re eager to pass those benefits onto our patients.”
Bethel Foot and Ankle provides care for a range of podiatric conditions, including all foot disorders and common problems such as bunions, hammertoes, neuromas, athletes foot, and fungal nails. The practice is also known for its gentle and comfortable correction of all foot problems, including Lapiplasty ® 3D Bunion CorrectionTM and Extracorporeal Pulse Activation Treatment (EPAT ® ) treatments.
Dr. Michael Z. Fein received his degree from Temple College of Podiatric Medicine and completed his residency at Broad Street Hospital and Medical Center in Pennsylvania. Dr. Jamie A. Otfinoski graduated from New York College of Podiatric Medicine before completing his residency at Roger Williams Medical Center in Rhode Island.
“Innovation and excellence are part of the DNA of our practice, and we strive to provide every patient with the individualized treatment and service they need to achieve optimal outcomes,” says Dr. Michael Z. Fein. “As we enter into a partnership with USFAS, we’re excited about the opportunities and resources that come with it, which we see as opportunities to continue our strive toward innovation and excellence.”
“All of these practices are exemplary, with a strong, consistent track record of service excellence. They’re welcome additions to the USFAS family and the pinnacle of everything we’re looking for in our partner practices.” says Cotton Hawes, Chief Executive Officer at USFAS. “We’re eager to bring them into the fold and work with them in partnership, to realize an even higher potential for the future.”
With this partnership, both practices will benefit from USFAS’ extensive administrative and support services, which include top-of-the-line information technology, a dedicated clinical compliance team, electronic medical records, payor credentialing and contracting, revenue cycle management, human resources, finance and accounting, and business development.
About U.S. Foot & Ankle Specialists
USFAS is a leading provider of podiatric services providing a full range of specialty services for the advanced treatment of foot and lower extremity conditions. Headquartered in Rockville, Maryland, USFAS provides services through a growing network of nearly 150 offices in Maryland, Virginia, Pennsylvania, North Carolina, West Virginia, Ohio, New Jersey, Delaware, Illinois, Missouri, Florida, Kentucky, South Carolina, Wisconsin, Michigan, Connecticut, and Washington, D.C., and more than 200 Board Certified and Board Qualified podiatrists. USFAS is an affiliate of Foot & Ankle Specialists of the Mid-Atlantic and NMS Capital, with plans to expand nationally. For additional information on USFAS, visit the company’s website at www.footandankle-usa.com
About NMS Capital
Founded in 2010, NMS Capital is an experienced private equity firm managing assets in excess of $1.5 billion. Since inception, NMS has partnered with management teams in over 115 investments and follow-on acquisitions across defined investment themes within the Business Services and Healthcare Services industries. The firm’s principal strategy is to create long-term value by providing strategic and operational resources to growth-oriented companies led by founders or experienced management teams. NMS has successfully built lower middle market companies in defensible and scalable end markets by accelerating organic and acquisition-driven growth. For additional information on NMS, please visit the firm’s website at www.nms-capital.com. Follow NMS Capital on www.linkedin.com/company/nms-capital.
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