Jeffrey Brandt, CPO
Ability Prosthetics & Orthotics (Ability), headquartered in Gettysburg, Pennsylvania, has acquired BridgePoint Medical (BridgePoint), headquartered in Lexington, Kentucky. According to an Ability press release, the acquisition was made via a cash-free exchange. Cypress Associates, New York, New York, served as a financial advisor to BridgePoint for the transaction. No additional financial details about the transaction were disclosed.
Clint McKinley
The acquisition includes BridgePoint’s four patient care centers in Kentucky and North Carolina, and BPM Fabrication, Asheville, North Carolina, a central fabrication facility that provides services to numerous patient care centers throughout the mid-Atlantic region. The Kentucky BridgePoint 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.
Ability now owns nine O&P patient care facilities in the Mid-Atlantic region.
“This is a great acquisition on many levels,” said Jeffrey Brandt, CPO, president and founder of Ability. “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 toward managing the patient’s entire spectrum of related care.”
BridgePoint’s CEO and founder, Clint McKinley added, “Jeff and I…have similar visions for the field of prosthetics and orthotics. Both companies are poised for growth, and the market timing couldn’t 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 has been named CEO of Ability; Brandt will serve as Ability’s president and COO.
