First Choice Healthcare Expands, Partners With B.A.C.K. Center
By Space Coast Daily // May 20, 2015
Based on Historical Performance of First Choice and The B.A.C.K. Center, Combined Annual Revenues Expected To Exceed $24 Million; and Nearly 100,000 Collective Patient Visits Will Be Administered This Year
BREVARD COUNTY • MELBOURNE, FLORIDA – First Choice Healthcare announced that it has expanded its current portfolio of Medical Centers of Excellence located in the Florida Space Coast region, welcoming The B.A.C.K. Center to the company’s growing medical business-building platform.
Originally founded in 1981 and currently led by its president and Board Certified Orthopaedic and Spine Surgeon Dr. Richard A. Hynes, The B.A.C.K. Center is a premier, advanced orthopaedic spine and pain practice in Brevard County, which administered more than 46,000 patient visits in 2014 and generates revenues of approximately $14 million annually.
An acronym aptly standing for “Back Authority for Contemporary Knowledge,” The B.A.C.K. Center operates two medical offices located in Melbourne and Merritt Island, Florida.
The Melbourne facility has available space to readily expand the practice’s medical operations to support the addition of new physicians and care specialists and manage up to 4,000 forecasted surgical procedures for patients of both The B.A.C.K Center and the Company’s original Medical Center of Excellence, First Choice Medical Group, which is located only a half mile north of The B.A.C.K. Center’s Melbourne campus on South Harbor City Boulevard.
In addition to her role as Vice President of Medical Operations at First Choice Medical Group, Kris Jones has also been named Vice President of Medical Operations at The B.A.C.K. Center.
Jones will lead the transition and integration of its business operations with and onto the First Choice Center of Excellence operating platform. She will oversee the day-to-day business management and administration of the practice.
Dr. Hynes will serve as the Medical Director, responsible for coordinating and managing the professional medical services provided to the Center’s valued patients.
“I am very proud and feel very privileged to be teaming with such a strong foundation of committed care providers and support staff at The B.A.C.K. Center, who are clearly dedicated to delivering exceptional patient care by remaining on the leading edge of surgical innovations and treatment advancements in orthopaedic, spine and pain medicine,” said Jones.
“The fact that The B.A.C.K. Center’s and First Choice’s goals and growth ambitions are ideally aligned makes this combination of strengths and talent a very exciting expansion initiative; and one that we fully expect will yield notable, positive results for us, our patients and our shareholders.”
Commenting on joining the First Choice family, Dr. Hynes said, “We have witnessed and strongly admire First Choice’s success with First Choice Medical Group and appreciate the enhanced quality of life and streamlined business practices that its proven business model offers medical care providers – particularly those of us who would much prefer focusing our energy, time and efforts on caring for patients, rather than being consumed by the complexities of new healthcare regulatory reform coupled with other business challenges related to running a large, successful medical practice in today’s environment.
‘We are very excited to be teaming with First Choice and look forward to a long and mutually beneficial relationship centered on providing world class medical attention to the people who entrust their care to us.”
Devin K. Datta, M.D., Board Certified Orthopaedic and Spine Surgeon at The B.A.C.K. Center and President of the Brevard County Medical Society said, “The First Choice business model is indeed the wave of the future in private medical practice administration and one that I believe gives physicians who are passionate about medicine the freedom and flexibility we require to deliver patients and their families truly superior care, convenience and attention.
‘As the President of the Brevard County Medical Society and a practicing physician, I know firsthand the difficulties facing private practitioners and independent medical groups in the prevailing healthcare environment. Hospital systems are growing while private provider groups are becoming fewer and far between. The First Choice model allows for greater cohesiveness, efficiency and opportunity not found in a hospital environment and allows doctors to exclusively focus on providing superior patient-centric care.”
First Choice Chairman, President and CEO Christian Romandetti added, “We are very pleased to be welcoming The B.A.C.K. Center to First Choice and believe that this transaction marks a notable inflexion point in the ongoing evolution of our Company.
“As a result of this transaction, The B.A.C.K. Center delivers to us a significant increase in annual revenues, which will position First Choice to generate more than $24 million each year without factoring any potential future growth.
“Moreover, we have now become one of the Space Coast’s largest, most preeminent orthopaedic – and orthopaedic spine – centers and pain practices in Brevard County, staffed by a combined team of highly respected and accomplished physicians, surgeons and medical care specialists.Together, we expect to administer approximately 100,000 patient visits this year.
“These distinctions are hugely valuable when considering the leverage they provide First Choice in optimizing cost and productivity efficiencies across our enterprise, which, in turn, we believe will materially and positively impact our Company’s bottom line earnings for many years to come.”