IRVING, Texas, Aug. 17, 2023 (GLOBE NEWSWIRE) -- U.S. Oral Surgery Management (USOSM), the first and largest physician practice management (PPM) company in the oral and maxillofacial surgery specialty, announced today that it has closed on a new $150 million credit expansion. USOSM’s growth has continued this year with more than $100 million of acquired revenue anticipated. This new round of financing will position USOSM for continued and accelerated growth through 2024 and beyond. The funding is an expansion of USOSM’s current credit facility with its existing lenders.
“We have expanded our credit facility with our existing lenders. This additional capital will fund our continued growth through 2024 and beyond,” said USOSM President and CEO Richard Hall. “The credit markets continue to be more limited for PPM businesses, and not all credit is equal. Only companies with well-established track records and exceptional performance will successfully obtain access to growth capital at reasonable terms. We’re extremely proud that USOSM’s performance provided our lenders with the confidence to expand their commitment. This additional dry powder and our track record of timely closings with the top oral surgeons in the industry will give future partners confidence in our certainty to close.”
USOSM Chief Financial Officer Henry Moomaw added, “USOSM and our equity backer, Oak Hill Capital (OHC), worked closely with our existing lenders in pursuit of this significant credit expansion, despite capital market challenges that many of our competitors have encountered. We are grateful for the support of our current lenders, and we understand this exemplifies the level of confidence our lenders have in USOSM.”
Founded in November 2017, USOSM is a specialty management services company that exclusively serves premier, board certified oral and maxillofacial surgeons. The first company of its kind, USOSM continues to lead the industry today with more than 180 oral and maxillofacial surgery practice locations across 26 states.
USOSM has a 100% partner practice retention rate and more than 51% of the company is owned by the oral surgeons themselves. In addition, USOSM partner practices consistently achieve a Net Promoter Score (NPS)™ of 80 or above, a feat that’s recognized as “world-class” by one of the ranking system’s founders: Bain & Company. This is extremely important as patient care is always USOSM’s top priority.
“We’re excited to continue to be recognized as the leader in the industry. Our success is driven by our laser focus on oral and maxillofacial surgery and on our surgeon partners in support of their service to their patients. We continue to grow and thrive despite increased competition, challenging capital markets, and high interest rates,” noted Hall.
Hall added that another driving force behind USOSM’s phenomenal growth is the quality of its surgeon partners. “We’ve always been highly selective about with whom we partner. Our partners are industry leaders. They’re all board certified, highly trained and highly skilled. They’re also true partners – they all have a material, equity stake in USOSM and complete clinical autonomy.”
Headquartered with its practice support center in Irving, Texas, USOSM has partner practices spanning 26 states. USOSM collaborates with premier oral and maxillofacial surgeons to offer a partnership solution for continued and accelerated practice success. USOSM provides operational, marketing, and administrative support services, reinvests resources, and applies best practices to improve clinical and financial performance and produce steadier, more profitable growth for all. USOSM is backed by the private equity firm Oak Hill Capital, a longstanding private equity firm focused on the North America middle-market. For more information, visit https://www.usosm.com/.
Contact:
Lyle Rountree
U.S. Oral Surgery Management
214-289-3799
Lyle.Rountree@usosm.com
