Sentinel sells National Spine & Pain Centers

Created National Leader in Interventional Pain Management

NEW YORK, June 2, 2017 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, today announced the sale of National Spine & Pain Centers ("NSPC"), a leading service provider to interventional pain management physicians. Terms of the transaction were not disclosed.

Acquired by Sentinel in 2011, NSPC provides administrative and support services to physicians who offer a comprehensive approach to the treatment of neck and back pain through the use of advanced, minimally invasive, interventional procedures. NSPC treatments provide both immediate and long-lasting pain relief and enable patients and payors to avoid more costly and invasive surgical procedures. Affiliated physicians are fellowship-trained and board-certified/board-eligible pain specialists. Many are nationally recognized leaders in pain management.

Under Sentinel's ownership, NSPC achieved significant growth and has emerged as the national leader in serving interventional pain management physician groups. At the time of Sentinel's original investment in 2011, NSPC served nine clinics, all located in Maryland. Today, five years later, NSPC has grown eightfold, and now serves 69 clinics in seven states, including Connecticut, Maryland, New Jersey, New York, North Carolina, Virginia, West Virginia, and the District of Columbia.

"Our investment in National Spine & Pain was a unique opportunity to partner with highly talented and dedicated physician entrepreneurs in building a leading, specialty healthcare provider," said Paul Murphy, a Sentinel partner. "Chronic and debilitating pain affect more people in the United States than diabetes, heart disease and cancer combined. We believe that NSPC is well-positioned to continue the impressive growth trends that we've witness during our ownership."

The past year has been highly productive for Sentinel. Besides exiting NSPC, Sentinel also recently completed the sales of two other portfolio companies—Checkers, an iconic and innovative drive-thru QSR restaurant chain, and Power Products, a leading global provider of branded electrical products and systems. And during the past year, Sentinel has made six new platform investments: Altima Dental, one of the largest dental services organizations in Canada; Cabi, a leading direct marketer of women's fashion apparel; The Luminaires Group, a leading North American manufacturer of specification-grade lighting products; Quick Weight Loss Centers, a multistate provider of highly differentiated weight loss management services; Revenew International, a leading provider of cost recovery and cost containment services; Revenew International, a leading provider of cost recovery and cost containment services; and Sonny's Enterprises, the worldwide leader in conveyorized car wash systems.