Indiana pain management company acquired
Bloomington-based Wellspring Pain Solutions is under new ownership. Capitol Pain Institute, an interventional pain management company headquartered in Texas, said Thursday it has acquired Wellspring, though financial terms were not disclosed.
Wellspring Pain Solutions offers a variety of pain management and treatment services at its locations in Bloomington, Batesville, Columbus, Greenwood and Terre Haute.
Dr. Jeffrey Beck with Wellspring said finding the right partner was critical for the company, adding CPI will support expansion throughout the region.
CPI operates clinics and ambulatory surgical centers in Texas, Kentucky and Ohio. The company called the acquisition a “strategic entry” into a new market.
“Dr. Beck and I share the same goal of providing high-quality, compassionate care to patients,” CPI founder and President Dr. Matt Shocket said in a news release. “This partnership will allow us to expand our platform in the Midwest and ensure that patients in the region will continue to receive the care they have always relied on.”
Both companies provide services such as spinal cord and peripheral nerve stimulation, interspinous stabilization and fixation, the intercept procedure to treat spinal degeneration, and posterior or lateral SI joint fusion.
CPI said its goal is to provide high-quality care at a lower cost than a traditional hospital setting.
The company did not specify if any jobs would be affected by the acquisition. Multiple requests for more information from Inside INdiana Business were not returned.