Shore Capital Partners Announces Founding of Southern Sports Medicine Partners

Strategic Partnership with Jaffe Sports Medicine Includes Four Locations in West Florida

Shore Capital Partners (“Shore”), a private equity firm, is pleased to announce it has founded Southern Sports Medicine Partners (“SSMP”), through the completion of a strategic partnership with Jaffe Sports Medicine (“JSM”). SSMP provides interventional pain management practices with administrative support, so physicians can focus on delivering the highest quality of patient care.

JSM, led by founder Dr. Peter Jaffe, provides patient-centric care at four locations in the Naples, FL area. Mike Cooper, a founding partner of Shore, commented, “We are thrilled to partner with Dr. Jaffe. He is one of the most respected and well-known physicians in West Florida. Having built a world-class practice, Dr. Jaffe shares our vision to deliver clinical excellence at greater scale.”

Dr. Jaffe said, “I partnered with Shore for their track record of transformational growth in healthcare and a shared belief in what it will take to be the leading interventional pain management platform in the Southeast. As healthcare continues to become more retail and consumer-oriented, the time is ideal to embrace growth, patient experience, and best in class programs and options for physicians in all stages of their careers. Southern Sports Medicine Partners is off to a great start and I have high aspirations for what we can achieve.”

SSMP will grow its platform across the region by investing in people and processes to support the operations, finance, accounting, marketing, human resources, and IT functions at affiliated practices, thereby allowing physicians to focus on clinical excellence and serving their communities. SSMP will pursue affiliations with independent interventional pain management practices to build a network of top clinicians in a physician-led culture.

“We are building a leader of scale in pain management and sports medicine, starting with Dr. Jaffe and his team,” said Mr. Cooper. “We are well-positioned to support the continued transition to consumer-directed healthcare, while maintaining the physician’s role and clinical expertise as the most critical aspect of treatment. Additionally, Shore has helped to bring together an exceptional board of directors consisting of industry thought leaders and physicians alike to guide our strategy and growth plan.”

SSMP represents the third platform investment out of Shore Capital Partners Fund III, L.P., a $293 million investment vehicle raised in April 2019.

To learn more about Jaffe Sports Medicine, please visit www.jaffesportsmedicine.com.

About Shore Capital

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201102005029/en/

Contacts

Adam Werder
Shore Capital
(312) 348-7580
https://www.linkedin.com/company/shore-capital-partners/

Source Article

Read more

Texas seeks to shore up hospital capacity in El Paso as coronavirus cases surge nationwide

New reported infections nationwide surpassed 80,000 for the first time this Friday and again Saturday, as hospitalizations push past 40,000 and daily death tolls begin to climb. Officials are already trying to shore up overwhelmed facilities: In Texas, Gov. Greg Abbott (R) on Sunday announced that state authorities are creating a new site for medical care and deploying extra resources to hospitals in El Paso, where covid-19 hospitalizations have nearly quadrupled to almost 800 in less than three weeks.

The United States’ latest case spike, expected to intensify as winter draws closer, is geographically broader than the spring surge that devastated East Coast states and the summer wave that hit the South and Southwest. And it comes as leaders are leery of renewed shutdowns, as Americans grow wearier of restrictions and as the Thanksgiving travel season looms.

In previous waves, “our governments reacted,” said Megan Ranney, an emergency medicine professor at Brown University. “We closed bars. We closed restaurants. We enforced mask mandates. And I’m not seeing a lot of that nationally right now.”

“We are set up for just a perfect storm — a conflagration,” she said. “Right now, you can talk about there being lots of little burning fires across the country. And then Thanksgiving will be the wind that will whip this fire up into an absolutely human disaster for our country.”

In El Paso, authorities are urging people to stay home as efforts to add hospital beds kick in. The new facility announced by Abbott, set to open this week at the El Paso Convention and Performing Arts Center, will start at 50 beds but can expand to 100 if necessary, the governor’s office said, while “auxiliary medical units” sent to hospitals can boost capacity by 100 beds.

In a Sunday call, Abbott also asked the U.S. Department of Health and Human Services to ease the pressure with a Department of Defense medical center in El Paso. Abbott asked to house non-coronavirus patients in William Beaumont Army Medical Center so that hospitals in the El Paso area could give more beds to those with covid-19, the disease the novel coronavirus causes.

Health and Human Services did not immediately provide a comment.

New daily infections in El Paso have rocketed from fewer than 25,000 at the beginning of the month to more than 38,500 this weekend, according to The Washington Post’s tracking. New deaths have yet to surpass a peak in August, but deaths lag behind spikes in cases and hospitalizations.

The mayor of El Paso, Dee Margo, said he learned on a recent ride-along with fire officials that most of their calls are related to the coronavirus. If moves to address hospitals’ strain do not work, he said, he will ask the governor for more action. He pleaded with residents to mind their behavior to avoid “drastic measures.”

Some public health experts say they are not optimistic about the chances of ramping up coronavirus restrictions again across the country.

“I don’t see forceful policy intervention happening

Read more

Coronavirus surge closes schools on Eastern Shore

Dorchester County School Superintendent W. David Bromwell said about 20 percent of the school system’s 4,700 students were on campus part time — a number slated to more than double next week under a hybrid-learning plan for pre-K to grade 12.

“We were doing well and moving slowly,” he said. But a sudden spike in the prevalence of the coronavirus brought the plan to a halt.

The test-positivity rate jumped from 2.9 percent to 6.1 percent in a eight-day period, said Dorchester County Health Officer Roger Harrell.

Coronavirus cases have not spread in schools, school and health officials said. They called the closure a cautionary measure taken to prevent a school outbreak.

“The scary part is how quickly it flipped, and it seemed to be growing exponentially,” Bromwell said. “It just appears that it’s hitting rural America.”

The sharp increase has not been traced to a particular event or outbreak in any part of the county and has affected people across age levels, Harrell said. The county includes the city of Cambridge, amid an expanse of farmland and waterways.

“We’ve not really figured out why,” he said. “I wish we had the magic answer, but we don’t have it yet.”

It will take at least two weeks of consistently lower positivity rates before schools can reopen, officials said.

At that point, Thanksgiving — and the possibility of spread during family get-togethers — may be around the corner and “certainly a concern,” Bromwell said.

“It kind of takes the wind out of your sails,” he said. “You start to get the impression that you’re returning to normalcy, and then . . . it takes the wind out of you.”

In recent months, Gov. Larry Hogan (R) and State Superintendent Karen Salmon have visited schools around the state, lauding efforts to revive classroom instruction. Hogan said in late August that school systems were fully authorized to begin safely reopening for in-person classes, based on improving health metrics.

Nineteen of the state’s 24 school systems have opened school buildings to students to some extent this fall, state officials said Friday.

Hogan’s office issued a statement Friday saying Dorchester’s approach is consistent with data-driven health metrics provided by the state.

“The recent rise in the county’s positivity rate is connected to a small number of family clusters, which is in line with trends we are seeing statewide,” spokesman Mike Ricci said.

Salmon called the changes in Dorchester “an example of the metrics being utilized to inform health-based decisions at the local level,” according to a statement provided by the Maryland Department of Health.

Dorchester opened Sept. 8 and soon brought back seniors in career programs and later students with special needs. More recently, it embarked on a hybrid approach that combined online and in-person learning for students in pre-K, kindergarten, sixth grade and ninth grade.

Since schools opened, nine people related to schools in Dorchester have tested positive: four students, all teenagers, and five employees, only some of whom worked in school buildings.

The

Read more