Daily News: December 27, 2012

Waud Capital’s ProNerve Acquires PhysIOM

Waud Capital Partners (WCP) announced that its portfolio company, ProNerve, has acquired PhysIOM Group, LLC, a provider of intraoperative neuromonitoring (IONM) services in the western and southeastern United States.

Headquartered in Colorado, PhysIOM serves over 290 hospital clients across 33 states. PhysIOM represents ProNerve’s third acquisition in 2012 and establishes the company as a national provider of IONM services.

“Having a stated objective of building the leading provider of IONM services in the western United States, we are thrilled to complete this business combination,” said David Neighbours, partner at Waud Capital Partners. WCP first invested in ProNerve in February 2012 and has also completed acquisitions for ProNerve in Washington and Arizona.

“Individually, both companies are well respected in our field, but combined we have a stronger platform from which to serve our customers,” said Luke Johnson, CEO of ProNerve. “I look forward to working with PhysIOM’s management team as I believe their strengths to be complementary to our organization.”

“We are eager to begin the process of joining forces with ProNerve,” said former PhysIOM CEO Rick Flores, who will become president of ProNerve. “PhysIOM’s employees, clinicians and clients have all welcomed the news of this merger.”

ProNerve is a provider of intraoperative neuromonitoring services in the United States.

Waud Capital Partners is a private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle-market growth equity investments, buyouts, industry consolidations and recapitalizations.