Praesentia Healthcare Announces Strategic Partnership in BioSpine Institute

Expanding North American footprint and increasing service offering to all patients

• Praesentia Healthcare ("Praesentia") has acquired a controlling interest in the BioSpine Institute ("BioSpine") in partnership with its physician shareholders, bolstering its capabilities in providing holistic pain management and expanding its footprint into the United States.
• This partnership combines the knowledge, skills, and expertise of Praesentia and BioSpine, resulting in a comprehensive, multidisciplinary and innovative solution for patients suffering from chronic pain.
• BioSpine provides advanced treatments for neck and back pain, with a specialization in unique minimally invasive spine surgeries. This strategic partnership will provide patients across North America access to state-of-the-art procedures to treat their underlying chronic orthopedic issues and alleviate their chronic pain.

TORONTO, Jan. 11, 2024 /CNW/ - Praesentia Healthcare and the BioSpine Institute are pleased to announce that they have entered into a definitive agreement, pursuant to which Praesentia has acquired a controlling interest in BioSpine in partnership with the founding shareholders of BioSpine, Dr. James Ronzo and Dr. Frank Bono, who will retain a significant minority interest in BioSpine.

The partnership is transformative to the growth of both Praesentia and BioSpine, with both parties being market leaders in their respective fields. Praesentia, through one of its operating banners Pain Care Clinics, has delivered comprehensive pain management services to over 200,000 patients across 11 locations in Canada. BioSpine is a leader in performing minimally invasive spine surgeries for the U.S. market, providing services for over 20 years and over 85,000 patients operated on.

This strategic partnership combines the knowledge, skills, and expertise that both companies possess through over 30 years of combined experience, expands geographic reach and brings together a roster of leading physicians in the pain management industry as well as world-class orthopedic spine surgeons and neurosurgeons. This partnership will allow for patients across North America who are suffering from ongoing pain issues to have access to alternative solutions through a multidisciplinary and innovative approach. This also provides Praesentia with the opportunity to expand its existing Pain Care Clinics banner into the U.S. market, which will allow for a comprehensive offering of healthcare services to all patients.

"We are very excited for this partnership with BioSpine and creating this unique platform that offers our patients new alternatives to relieve their chronic pain. This is a critical investment for us at Praesentia, which continues to build upon our vision of providing holistic and comprehensive care throughout our patients' pain journey. We look forward to working with the BioSpine surgeons and management team and integrating our two successful businesses, and are thrilled to find a partner with similar values in providing exceptional patient care. This partnership is a significant milestone as part of our long-term strategy, as we continue to expand our footprint and services in Canada, as well as look to expand into other strategic global geographies." says Dr. Hany Demian, founder and CEO of Praesentia.

"We are incredibly proud of what the team at BioSpine has been able to accomplish over the last 20 years that we have dedicated to enable our patients to carry on with their normal everyday lives. We are excited to take part in this new partnership with Praesentia to continue to grow our service offering and presence across North America." says Dr. Frank Bono, co-founder of BioSpine. "We share the same vision as the Praesentia team and are thrilled to be partnering with them to expand into new markets and bolster our service offering to a broader population of patients. We can't wait for this next chapter of growth for the combined organization." says Dr. James Ronzo, co-founder of BioSpine.

BDO Canada Transaction Advisory Services Inc. acted as exclusive buy-side advisors to Praesentia, providing M&A, financial due diligence, and tax advisory services. Greenberg Traurig, LLP acted as legal counsel to Praesentia.

Three Sixty Seven Advisors acted as exclusive sell-side advisors to BioSpine. Hall, Render, Killian, Heath & Lyman, P.C. acted as legal counsel to BioSpine.

Praesentia is a leading health services organization that owns and operates two banners in Canada ? Pain Care Clinics, one of the largest groups of interventional pain management clinics that currently has eleven locations, with plans to open five new locations in the next year, and Alfa Scan Diagnostic Imaging, which provides various diagnostic imaging services out of two locations. Praesentia is dedicated to unlocking the barriers of pain and allowing people to reach their full potential by utilizing multidisciplinary, innovative, and comprehensive evidence-based medical practices. Our goal is to increase the access to healthcare services through disruptive, innovative and integrated solutions. Praesentia's banners have delivered comprehensive pain management services to over 200,000 patients since 2014.

The BioSpine Institute is a spine surgery practice operating out of seven cities in Central-Florida that provides relief from neck and back pain through a unique and cutting edge minimally invasive surgery procedures and non-surgical treatments. The Company's physicians are board certified, fellowship-trained surgical innovators focused exclusively on spine disorders. BioSpine's commitment to improving patients' lives and lifestyles is achieved through a state-of-the art surgical experience, highly skilled and experienced surgeons and an extremely qualified staff, providing the highest level of care in the spine surgery industry. Complementing the Company's surgical expertise and facilities, BioSpine provides patients an unparalleled patient experience, with concierges that assist patients throughout their entire clinical and surgical journey. BioSpine's surgeons have eased spine pain for more than 85,000 patients.

SOURCE Praesentia Healthcare