CONSHOHOCKEN, PA — Integrated Foot and Ankle Specialists (IFAS), a joint venture between Avonwood Capital Partners and Mereo Capital Partners, has successfully rounded off its first full calendar year of operations with the acquisition of Quarryville Family Foot Care. This deal marks the fifth for the Pennsylvania-based company in 2023 and signals its ambitious expansion strategy.
The acquisition of Quarryville Family Foot Care, located in Lancaster County, Pennsylvania, was finalized on December 29, 2023. It follows the successful acquisitions of Foot & Ankle Center of Chester County, Berkshire Podiatry, Bryn Mawr Foot & Ankle Center, and Lancaster Podiatry earlier in the year.
These transactions have resulted in significant growth for IFAS, adding 11 office locations in Pennsylvania to its network. The expansion also extends the company’s reach through relationships with major health systems and nursing facilities, such as Jefferson Health, Mainline Health, and Tower Health, serving patients in Pennsylvania and New Jersey.
With the close of 2023, IFAS now operates 16 locations spread across eight counties in Pennsylvania and New Jersey. The company employs over 80 doctors and staff members and is well-positioned for further growth with an active pipeline planned for 2024.
Launched in 2022, IFAS is the product of a collaboration between Avonwood Capital Partners and Mereo Capital Partners. Both are suburban Philadelphia-based private equity firms with a strong background in healthcare investing and operations. Their joint venture, IFAS, focuses on the continuum of foot and ankle care, recognizing that a patient’s ability to walk and stay active is a key indicator of overall health and wellness.
Looking ahead, IFAS has set its sights on expanding its network of practices in the Mid-Atlantic and Northeast regions. The company is currently in active discussions with potential doctor-partners in Pennsylvania, New Jersey, New York, Delaware, Maryland, and Virginia.
This series of acquisitions underscores IFAS’s strategic approach to growth and its commitment to providing comprehensive foot and ankle care. As the company enters 2024, industry observers will be keenly watching its expansion plans unfold.
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