October 5, 2021

New York, NY, October 5, 2021 – U.S. Foot & Ankle Specialists, LLC (“USFAS”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired Appalachian Foot & Ankle Associates (the “Practice”), based in North Carolina.

Appalachian Foot & Ankle Associates has served the podiatry needs of Western North Carolina since 1997. Founded by Dr. Gregory Costanzo, the business was later sold to Dr. Thomas Rehm, a tenured physician at the practice who joined in 1998. Today, Appalachian Foot & Ankle Associates operates two locations in Asheville and Marion, NC. The practice’s exemplary podiatry staff delivers a complete range of care services, including treatment for plantar fasciitis, bunions and hammer toes, flat feet, ingrown toenails, athlete’s foot, tendonitis, and a variety of other ailments.

“Broad expertise and a state-of-the-art approach to patient care are really what make Appalachian Foot & Ankle Associates a perfect fit to our family of practices,” said Cotton Hawes, Chief Executive Officer at USFAS. “They’re a force for patient education, committed to keeping people informed and confident on their treatment journey. This embodies the goal of every practice within our network. We’re really excited to welcome this amazing team and continue to enable the great work they’re doing.”

“Everything we do comes down to patient experience. It’s something we’re really passionate about and it’s why we’ve aligned ourselves with USFAS,” said Dr. Thomas Rehm. “Access to leading-edge resources and equipment—as well as administrative support and practice optimization strategies—will help us continue to deliver on our mission of improving not only patient experience but results as well.”

With this partnership, Appalachian Foot & Ankle Associates 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 approximately 70 offices in Maryland, Virginia, Pennsylvania, North Carolina, and Washington, D.C., and over 100 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

NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle-market companies. The firm was formed through the spin-out of a group of portfolio companies from Goldman Sachs’ Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Healthcare Services and Business Services. For additional information on NMS, please visit the firm’s website at www.nms-capital.com

For Further Information

Brett Richey
Executive Chairman
US Foot & Ankle Specialists
(434) 975-0315