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Business Observer Monday, Jan. 24, 2022 3 months ago

Tampa orthopedic firm, thanks to investment, saw explosive growth in 2021

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Florida Orthopaedic Institute is now the nation’s 12-largest provider of orthopedic care.

TAMPA — Florida Orthopedic Institute in 2021 became the largest orthopedic practice in Florida and the 12th-largest in the country, adding 12 physicians and expanding to 23 locations across the Sunshine State thanks to an investment from MD Healthcare Partners.

According to a news release, FOI now serves more than 145,000 patients and has 101 physicians, in addition to 750 employees at its central business office. Since partnering with MDHP in 2019, the firm has more than doubled its revenue and number of providers.

“The growth is a direct result of building upon FOI’s reputation of clinical excellence,” FOI and MDHP CEO Mike Doyle states in the release. “While MDHP provides the financial and managerial resources to exemplify growth, it’s what FOI represents clinically that makes it the orthopedic partner of choice for all stakeholders.”

FOI services and capabilities include surgery centers, physical therapy, imaging, pharmacy and clinical research, the release states. The firm’s goal is build the country’s preeminent orthopedic practice management company via the establishment of a network of top orthopedic practices in the nation.

“FOI has been fiercely independent for over 30 years by being an employer of choice for some of the country’s top new and established physicians alike,” FOI President Dr. Roy Sanders states in the release. “In today’s ever-changing health care environment, my partners and I knew that we needed a capital partner to thrive for the next 30 years. What has made this partnership successful is alignment from the start around physician leadership and clinical independence. MDHP didn’t just embrace the notion, they required it.”

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