New Platform Aims to Meet Rapidly Growing Demand for Quality, End-to-End Rheumatological Patient Care
NEW YORK–(BUSINESS WIRE)–VSS Capital Partners (“VSS”), a private investment firm investing in the healthcare, education, and business services industries, today announced it has made an investment in Center for Rheumatology (“CFR” or “the Company”), a rheumatology platform with a comprehensive suite of offerings that treat a variety of chronic rheumatic illnesses. Founder Dr. Arash Horizon, a well-known board-certified rheumatologist, will continue leading the company through its next phase of growth. Financial terms of the private transaction were not disclosed.
Founded in 2008 and based in Los Angeles, CFR specializes in treating arthritis, rheumatoid arthritis, celiac disease, psoriasis, lupus, gout, and certain myofascial conditions. The Company offers infusion treatments, phlebotomy and laboratory services, bone density tests, musculoskeletal ultrasounds, digital X-ray exams, and other ancillary services.
“We are excited to partner with Arash and his exceptional team as we look to expand access to care for the millions who suffer from chronic rheumatic illnesses,” said Jeffrey Stevenson, Managing Partner of VSS. “We believe that CFR is well-positioned to partner with more private rheumatology practices. As we seek to help CFR scale, we look forward to replicating the practice’s high quality of care and premier patient experience.”
“In addition to providing a world-class patient experience, CFR offers an attractive option for physicians seeking to provide comprehensive care while minimizing their administrative burden. Through his extensive experience and expertise in the field, Dr. Horizon has established CFR as an impressive rheumatology center where doctors can practice medicine and keep their focus on their patients,” added Eric Kim, Principal at VSS.
According to the CDC, an estimated 24% of American adults suffer from some form of arthritis. VSS believes that this statistic is expected to worsen as the population continues to age and becomes increasingly likely to require rheumatic care. At the same time, the number of qualified rheumatologists is decreasing, creating an imbalance that will significantly curtail access to specialized care in the coming years.
“My team and I are pleased to align ourselves with VSS as we work to build a premier, multi-site rheumatology practice,” said Dr. Horizon. “VSS’s experience building healthcare companies, along with their financial resources, will prove invaluable to CFR as we pursue efforts to deliver our “one-stop-shop” of vital, high-quality services to a wider patient population in an underserved market.”
Stout served as exclusive financial advisor to CFR and McDermott Will & Emery LLP served as counsel to CFR. Waller Law served as counsel for VSS.
VSS is a private investment firm that invests in the healthcare, education, and business services industries. Headquartered in New York, VSS provides capital for growth financing, recapitalizations, strategic acquisitions, and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately negotiated investments across the capital structure and invests in situations requiring control or non-control equity, mezzanine securities, and structured equity securities. VSS has over three decades of experience, made investments in 95 portfolio companies, with over 400 add-on acquisitions, and manages $4 billion in aggregate committed capital across 8 funds. For more information, please visit: www.vss.com.
About Center for Rheumatology
Founded in 2008 and headquartered in Los Angeles, Center for Rheumatology is a specialty medical practice providing comprehensive services in a highly specialized industry. With four board-certified physicians and seven state-of-the-art clinic rooms, CFR offers a complete set of on-site capabilities including infusion treatments, phlebotomy, laboratory services, bone density tests, musculoskeletal ultrasounds, and digital X-rays, among other services. For more information, please visit www.centerforrheumatology.com.
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