EAGAN, Utah (Reuters) – Rocky Mountaineers Orthopedists LLC said on Friday it had purchased Oregon Orthopaedics for $8 million in cash and stock.
Rocky Mountain orthopedists will continue to operate the Utah Orthopedist Group and will be responsible for all activities in conjunction with Oregon Orthoping.
Oregon Orthopedis in a statement said the purchase was part of its continued efforts to grow our team of Orthopedical experts.
The sale was announced during the Utah State Legislature’s business session, when the legislature debated and passed legislation that would increase Oregon’s healthcare spending and help the state meet its obligations under the Affordable Care Act.
The Utah Orthopacic Group is based in Provo, Utah.
The Utah Orthoping Group is an independent company and is not affiliated with Oregon, according to its website.
Oregon’s largest insurance company, UnitedHealth Group, also is an investor in Oregon Orthoplasics.
The Oregon Orthopolys is a joint venture between Rocky’s Orthopedicians, Inc., and Rocky-Aldine Orthopedica, LLC, with the latter company having a 51 percent interest in Rockymount.
The purchase will help grow RockyMountaineers, and help to keep the orthopedic group financially independent from the rest of the orthopaedic industry, Rocky said in a written statement.
It’s the latest acquisition by a Utah-based orthopedist.
Last year, the Utah Hospital Association said it purchased the Rocky Mountains Orthopedes for $10 million.