NEW YORK & ALPHARETTA, Ga.--(BUSINESS WIRE)--Consonance Capital Partners, a leading healthcare-focused private equity fund, in partnership with the Company’s Founder and CEO, Brad Bakotic, D.P.M., D.O., announced today that it completed the recapitalization of BPA Holding Corp. d/b/a Bako Integrated Physician Solutions (“Bako”), a premier national provider of specialty laboratory testing services and other solutions with a comprehensive suite of anatomic pathology, proprietary molecular biology, and neurology tests. Bako is the market leader in the growing and underserved podiatry market with a unique service offering tailored to meet the needs of podiatrists. Following the recapitalization, the Company will continue to expand its reach within the podiatry market and build on its innovative service offerings and differentiated testing capabilities. Founder and CEO, Brad Bakotic, D.P.M., D.O., along with other members of management, will continue to be significant shareholders in the Company. Financial terms of the transaction were not disclosed.
“Bako was founded and will continue to be dedicated to serving the specialized needs of podiatric physicians by providing them with a turn-key pathology solution with integrated office-dispensed therapeutics, enabling best-in-class patient care,” said Brad Bakotic, D.P.M., D.O., Founder and CEO of Bako and a dually trained podiatrist and dermatopathologist. “We are excited to work with Consonance and believe Bako will be well positioned to capitalize on the many opportunities we see in the market. The healthcare-specific industry expertise and national reach offered by Consonance will allow us to accelerate our innovation and continue to provide the highest quality services available for our partner clinicians and their patients.”
Benjamin Edmands, Managing Partner of Consonance Capital Partners, said, “We are thrilled to be partnering with Dr. Bakotic and his team. Bako is a market leader with a truly differentiated product offering and a strong national brand with an unparalleled reputation for quality. Bako’s robust pathology solutions and clinically driven reporting model enable its referring podiatric clinicians to best diagnose and treat patients while providing a strong cost and quality value proposition to the healthcare system.” Mitchell Blutt, MD, CEO of Consonance Capital and Managing Partner of Consonance Capital Partners commented, “We have a history of backing market leading operators which continues through this partnership with the Bako team. We are excited to support Bako as the trusted laboratory partner for patients, providers, and payors, particularly in the podiatric community.”
Consonance Capital Partners was advised by Latham & Watkins LLP and Bass, Berry & Sims PLC. Bako was advised by Goodwin Procter LLP and Leerink Partners LLC.
About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the lower middle market of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. Consonance Capital Partners participates in growth equity, leveraged buyout, and recapitalization transactions. The private equity fund is associated with Consonance Capital Management, a healthcare-focused long/short public equity manager, and together Consonance Capital has approximately $1.5 billion of assets under management. For more information, visit www.consonancecapital.com.
About Bako Integrated Physician Solutions
Bako Integrated Physician Solutions (“Bako”), is a premier national provider of specialty laboratory testing services which offers a comprehensive testing menu, including complete anatomic pathology services, proprietary molecular genetic testing, and peripheral neuropathy immuno-histochemical testing. Located in Alpharetta, GA, Bako is primarily focused on serving the nation’s 18,000 podiatric physicians, providing them with unmatched sector-specific expertise and physician support services. In addition, the Company offers an integrated portfolio of office-dispensed therapeutics. Bako is CLIA certified, CAP accredited, and licensed by the Georgia Department of Public Health. For more information, visit http://bakocts.com/.