Alpine Capital, as servicer and sole agent, has closed a senior debt financing facility for Capitol Pain Institute, P.A. (“CPI”), a pain treatment practice that realizes a multidisciplinary approach to deliver the most effective way to reduce pain and restore functionality and the affiliated Center for Specialty Surgery of Austin, LLC (“CSSA”), an ambulatory surgery center. Proceeds from the financing along with an affiliate of New State Capital Partner’s equity investment will support growth initiatives.
“We appreciate Alpine Capital’s ongoing support and confidence in our long-term vision. The new facility provides the liquidity and financial flexibility to invest in the continued growth of the business with the goal of adding to CPI’s quality medical team and ability to serve a growing patient population,” said Dr. Matt Schocket, Founder and CEO.
“Capitol Pain has established itself as a top provider of pain management services within the Greater Austin area. This type of financing is just one of the ways that we strive to add value for clients at various stages. We look forward to the continued partnership with both Capitol Pain and New State Capital Partners, as they look to capitalize on the continued expansion of the practice and surgery center,” said Alan Regdos, CEO for Alpine Capital.
About Capitol Pain Institute
Capitol Pain Institute was founded in 2007 in Austin, Texas to provide safe and effective treatment modalities tailored to the specific needs of each patient. Key services include spinal cord stimulation, pain management injections, and medication management. CPI’s six locations in the greater Austin area include the affiliated Center for Specialty Surgery of Austin, founded in 2015. A licensed ambulatory surgery center, CSSA offers services including pain management, neurosurgery, ophthalmology, and podiatry. For more information visit http://capitolpain.com and www.atxsurgery.com.
About New State Capital Partners, LLC
New State Capital Partners, LLC is an entrepreneurial-minded private equity firm that strives to be more nimble, more decisive and more cooperative than larger, institutional firms. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships, rather than as an exercise in meeting rigid investing criteria. The firm is very flexible about the structure of its investment and focuses on growth and add-on investment. New State invests in market-leading companies with $8 million to $30 million of EBITDA in the areas of business services, healthcare services and industrials, and has approximately $400 million in assets under management. New State and its affiliates have invested in 17 companies since January 2014. For more information visit www.newstatecp.com.
About Alpine Capital, LLC
Alpine Capital is a specialty lender dedicated to providing secured debt financing to middle-market companies, particularly those that operate within the healthcare industry. With over 45 collective years of healthcare finance experience, Alpine Capital leverages its expertise and understanding of the unique challenges facing healthcare providers to custom-tailor products to meet the specific needs of its clients. Alpine Capital LLC is headquartered in Charlotte, NC. www.alpinecapfin.com