Everside Capital Partners Announces Investment in Rural Partners in Medicine, LLC
February 2024
Everside is pleased to announce the closing of its investment in Rural Partners in Medicine, LLC (dba “inReach” or the “Company”), a provider of outsourced surgical specialists, orthopedic implants, physical therapy, and other medical services to hospitals in rural communities. The Company works with a network of approximately 50 specialty surgeons, who are 1099 independent contractors. Physicians travel to rural hospitals for a few surgery days each month, providing specialty services directly to these communities. This model enhances both the accessibility and quality of care, delivering a distinctive triple win: hospitals generate incremental fee revenue, physicians earn supplemental income, and patients receive better-coordinated, more affordable care locally. At the time of Everside’s investment, inReach had already completed six add-on acquisitions, expanding its surgical specialties and operational capabilities. By bringing specialty services directly to rural hospitals, the Company not only drives revenue for local healthcare providers but also helps prevent the migration or deferral of care.
Everside is excited to partner with inReach, alongside (i) a Dallas-based healthcare-focused private equity firm and (ii) a Nashville-based Small Business Investment Company (SBIC). This partnership facilitated the refinancing of inReach’s senior lender and reflects Everside’s commitment to investing in businesses with strong value propositions for all stakeholders.
Everside is an SEC-registered investment advisor, as well as a SBIC (Small Business Investment Company) license holder based in New York, NY. With over $1.9 billion in assets under management across its funds, Everside partners with leading SBIC managers in the lower middle market through its primary and secondary investing strategies, and also makes direct credit and equity investments in small businesses through its direct investing strategies. As a flexible capital provider, Everside offers debt and structured equity solutions for recapitalizations, acquisitions, liquidity events, and management buyouts.
For more information, please visit us at everside.com.
*This communication is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security or of any fund or account Everside Capital Partners, LLC (the “Adviser”) manages or offers. Although the information provided herein has been obtained from sources which the Adviser believes to be reliable, we do not guarantee its accuracy, and such information may be incomplete or condensed. The information is subject to change without notice and the Adviser has no obligation to update you.
This document should not be the basis of an investment decision. An investment decision should be based on your customary and thorough due diligence procedures, which should include, but not be limited to, a thorough review of all relevant term sheets and other offering documents as well as consultation with legal, tax and regulatory experts. Statements made in this release include forward-looking statements which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” or believe,” or other variations thereon. Certain information contained herein constitutes opinions, intentions, or beliefs of the Adviser, which may be preceded by the terms “belief,” “opinion,” or other similar terms. Such statements of “opinion” merely represent the Adviser’s state of mind and should not be construed as a material statement of fact. Any use of adjectives or superlatives included herein are a good faith opinion of the Adviser including but not limited to language such as “exhaustive,” “superior,” or “leading,” and should not be construed as material statements of fact. Further, other third parties may not agree with the opinions of the Adviser.