Philadelphia, PA – Capstone Headwaters advised Safe Passage Management, LLC (“SafePassage” or the "Company") on its sale to NuVasive, Inc. (“NuVasive”). The terms of the deal were not disclosed.
SafePassage is a leading provider of intraoperative neurophysiological monitoring (IONM) and Electroencephalography (EEG) services to surgeons and healthcare facilities across the eastern United States. SafePassage’s highly-skilled IONM neurophysiologists and oversight physicians play a vital role in reducing the incidence of post-operative complications through early identification of emerging neural injury during surgery and facilitation of timely intervention by the surgical team. The Company is lauded for its "patient first” philosophical approach to neuromonitoring and utmost dedication to patient safety. In addition to offering IONM services, SafePassage also partners with hospitals and neurology practices to provide turnkey solutions that enable comprehensive EEG programs including staffing, education, training and extended monitoring services.
Founded in 2007, SafePassage monitors approximately 12,600 IONM cases annually and has been Joint Commission accredited since 2014. "For more than a decade, the team at SafePassage has been dedicated to serving patients and surgeons with premium quality intraoperative neurophysiological monitoring services to improve patient outcomes and reduce economic risk for hospitals and surgeons," said Dan Siegel, Chief Executive Officer of SafePassage. "We are extremely passionate about our vision to eradicate preventable healthcare injury, the third leading cause of death in the United States, and I look forward to joining forces with NuVasive to further our mission worldwide."
NuVasive, Inc. (NASDAQ: NUVA) is the leader in spine technology innovation, focused on transforming spine surgery and beyond with minimally disruptive, procedurally-integrated solutions designed to deliver reproducible and clinically-proven surgical outcomes. NuVasive's portfolio includes access instruments, implantable hardware, biologics, software systems for surgical planning, navigation and imaging solutions, magnetically adjustable implant systems for spine and orthopedics and intraoperative monitoring service offerings. With the addition of SafePassage, NuVasive Clinical Services™ (NCS) solidifies its leadership position as the largest provider of outsourced IONM services with more than 550 neurophysiologists and oversight physicians in the United States, allowing for the delivery of services to over 1,000 customers and 3,000 surgeons. Following the acquisition of SafePassage, NCS is expected to support greater than 100,000 IONM cases annually in the United States.
“We continue to see the outsourced clinical services sector experiencing heightened M&A activity as private equity and strategic suitors look to capitalize on favorable demographic and industry trends, including an increasing reliance on outsourced service providers with the experience and clinical skill sets to help enhance patient safety, lower costs through reduced patient stays, and avoid expensive and resource consuming hospital readmissions” said Eric Williams, Managing Director of the Philadelphia-based Capstone Headwaters deal team. Mark Surowiak, Director at Capstone Headwaters, added, “The IONM sector, specifically, has continued to see an active M&A market. SafePassage is the third IONM provider that the Capstone Headwaters healthcare team has advised, following the previous sale of Surgical Monitoring Associates to SpecialtyCare and the recapitalization of Accurate Monitoring by Housatonic Partners."