BCP GROUP ANNOUNCES PARTNERSHIP WITH DENVER-BASED ORTHOTIC & PROSTHETIC GROUP
Nashville-based Practice Management Company Doubles Colorado Presence
FOR IMMEDIATE RELEASE
BCP Group is pleased to announce its recently completed partnership with Creative Technology Orthotic & Prosthetic Solutions, a leading provider of orthotics and prosthetics in the Denver market since 2006. As part of the partnership, BCP Group has acquired the operations of Creative Technology, which includes 16 employees in two clinic locations in the Denver market. The founders of Creative Technology, Christian Bailey, CPO, and Jason Musgrave, will become equity partners in BCP Group.
In line with BCP Group’s strategy of supporting strong local brands, BCP Group’s two existing clinics in the Denver market, which previously operated under the Bulow Orthotic & Prosthetic Solutions brand, will be now operate under the Creative Technology Orthotic & Prosthetic Solutions brand. BCP Group will provide practice management resources and capital to support Creative Technology’s growth in the Colorado market.
Matt Bulow, CP, BCP Group’s founding partner and CEO, commented, “The Creative Technology team shares our commitment to providing high-quality patient care, and I am very proud to have Creative Technology become part of the BCP Group partnership.”
From the perspective of Creative Technology’s owners, the impetus for a partnership with BCP Group was driven more by opportunity than by necessity. Bailey and Musgrave explained, “While we have grown significantly over the past several years and had our best year ever in 2014, we thought our growth could be accelerated with the support of a larger organization. Our partnership with BCP Group not only provides our organization with the support and resources we need to take our business to the next level, but also allows us to join forces with an extremely talented team here in Denver. Having the support of BCP Group’s practice management and shared service resources will take some of the administrative burden off our plate so our team can focus on taking care of patients and increase the impact we are able to have across the Colorado market.”
The partnership with Creative Technology was brought forth by BCP Group’s managing partners in Colorado, Eric Neufeld, CPO, and Zach Harvey, CPO. According to Neufeld and Harvey, “Creative Technology’s reputation in Denver and across the Front Range has been earned the old fashioned way: by consistently going the extra mile for its patients and referring providers.” They added, “Our partnership with Creative Technology gives us the ability to offer patients and referral sources access to a larger team of clinical specialists in more locations throughout the Denver market. This brings us one step closer to fulfilling our vision of providing solution-driven expertise, positive experiences and excellent outcomes to patients across Colorado.”
Speaking about BCP Group’s growth plans in Colorado, Grant Rutledge, president of BCP Group, commented, “We will continue to rely heavily on our local leadership as we evaluate new partnerships with O&P providers and other growth opportunities in the Colorado market. But when they bring us opportunities, we certainly listen.”
Financing for the transaction was provided by BCP Group’s existing investors, which include BCP Group management and other partners as well as principals from Frist Capital in Nashville, Tenn., among others. “Our investors have committed up to $100 million of capital to build a national partnership of strong, clinician-driven practices,” said Rutledge. “Our aim is to bring together an industry-leading ‘go-to’ network for patients and clinicians.”
About BCP Group
BCP Group is a practice management company based in Nashville, Tenn., dedicated to enhancing the viability of the independent, clinician-driven O&P practice model. We make ownership investments in high-quality clinical practices and provide behind-the-scenes business support and resources that enable our partners to focus on patient care and practice growth. Our growing group of member clinics operates 14 clinic locations in four states. For more information about BCP Group, please visit www.bcpgroup.net.