OrthoIndy and Indiana Hand to Shoulder Center combine orthopedic practices
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Two Indianapolis-based orthopedic medical practices are joining forces, creating a combined operation of more than 100 physicians and 1,200 employees with 22 locations across central Indiana.
OrthoIndy and Indiana Hand to Shoulder Center said Wednesday they have signed a letter of intent to combine both practices.
They called the combination a merger, although OrthoIndy is the much larger partner and will have controlling interest. The two companies are private and did not disclose financial terms of the deal or combined revenue.
The merger will allow the combined companies to remain independent, an increasingly rare proposition as huge acquisitions by hospital systems and private equity groups sweep the medical world.
“We want to control our own destiny,” John Ryan, CEO of OrthoIndy, told IBJ. “We’re playing offense.”
He said the combined operation intends to preserve both brands, “at least for some period of time.” He added that the operation will not consolidate or close any sites immediately, “but we are likely to do so over time, where it makes sense.”
OrthoIndy has 12 locations in central Indiana, while Indiana Hand to Shoulder Center has 10 locations. Some of the locations of the two operations are less than a mile apart.
The two groups expect to complete the merger in the first half of 2025. They said the integration will occur over time so that it does not disrupt patient care. They added there will be no immediate changes to scheduling practices, physician availability or insurance processes.
“This alignment marks an exciting new chapter for Indiana Hand to Shoulder Center,” said Dr. Tom Kaplan, the group’s managing partner in written remarks. “In aligning with OrthoIndy, we aim to seize the opportunity for further growth while maintaining our focus on what matters most—providing exceptional patient-centric orthopedic care that includes the tools to regain mobility and enables the ability live pain-free.”
Indiana Hand to Shoulder Center, established in 1971, specializes in treatments and surgical procedures for shoulder, elbow, wrist, and hand pain. The group has 12 surgeons and about 100 employees. Nine of the surgeons are shareholders in the company and will be joining OrthoIndy’s group of 45 surgeon-partners, Ryan said.
OrthoIndy has more than 90 surgeons and 1,100 employees and calls itself a leader in bone, joint, spine and muscle care.
OrthoIndy traces its roots to two surgeons who opened a practice in 1962 downtown called Blackwell/Brueckmann Corp. The practice changed its name to OrthoIndy in 1969. Over the next few decades, it opened numerous clinics across central Indy and opened an orthopedic hospital in 2005 on the northwest side.