Hospital for Special Surgery and General Atlantic Launch National Platform to Expand Access to Orthopedic and Spine Outpatient Care

Hospital for Special Surgery ("HSS"), the nation's top-ranked orthopedic hospital, is joining General Atlantic, a leading global investor, in its launch of a new, independently operated national platform of ambulatory surgery centers ("ASCs") dedicated to delivering advanced, patient-centered orthopedic and spine outpatient care. To support the platform's buildout, HSS and General Atlantic have also agreed to acquire Legent Health ("Legent"), a portfolio company of BTG Pactual Strategic Capital ("Strat Cap"). Legent is a leading operator of orthopedic and spine facilities, providing an immediate foundation for scale and growth.

The platform represents a significant step forward in expanding patient access to high-quality, accessible orthopedic and spine care nationwide, while addressing rising demand for advanced outpatient solutions. Legent CEO Jordan Fowler will lead the new platform, which combines Legent's proven operating infrastructure and experienced management team, HSS's depth of clinical knowledge and community of more than 1,750 alumni surgeons, and General Atlantic's expertise in building and scaling physician-aligned healthcare platforms.

Many procedures that once required hospital stays can now be performed safely and efficiently in ASCs. The new independent platform aims to expand patient access to advanced orthopedic and spine care closer to home, delivering lower-cost care with improved outcomes in a more comfortable environment. The platform is purpose-built to create lasting partnerships with surgeons and health systems, providing physicians with opportunities for ownership and alignment through meaningful equity participation, clinical autonomy, and special access to HSS's clinical protocols and advisory services. This will enable physicians and health systems to participate in the site-of-care shift and benefit from ASC-level efficiencies and economics. Over time, HSS and General Atlantic intend to expand the platform nationally through acquisitions, new partnerships, and de novo facilities.

"As the world's leading academic medical center specializing in musculoskeletal health since 1863, HSS has a special responsibility to deliver the highest-quality care, improve mobility, and enhance quality of life," said Bryan Kelly, MD, MBA, President, CEO, and Surgeon-in-Chief Emeritus at HSS. "Through this collaboration, we will extend HSS's clinical expertise and patient-first standards to markets where demand for orthopedic and spine care outpaces supply, and where quality care is limited outside the hospital setting."

"This platform brings together HSS's clinical knowledge and General Atlantic's company-building expertise to create community-based platforms that will expand patient access to premier orthopedic and spine care," said Robbert Vorhoff, Managing Director and Global Head of Healthcare at General Atlantic. "We are excited to work alongside HSS and Legent to support physicians, deliver quality care, and improve patient outcomes and satisfaction across the country."

Jordan Fowler, CEO and Chairman of Legent, commented, "Legent was founded on the belief that ambulatory surgery centers can deliver a superior patient and physician experience while lowering costs for everyone involved. We look forward to continuing to provide the highest quality of care and bringing our mission to more patients as part of this pioneering new platform."

James Frank, Head of Strat Cap at BTG Pactual Global Alternatives, said, "We are proud of the value created through our partnership with the Legent management team. We wish General Atlantic, HSS, and the management team continued success as they embark on this next phase."

Goodwin Procter LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisors to HSS and General Atlantic. Ducera Partners LLC served as financial advisor, and Gibson, Dunn & Crutcher LLP and McDermott Will & Schulte LLP served as legal advisors to Legent and Strat Cap.