Canada’s NeuPath Health has finalised the acquisition of the assets of SIBI Medical, operating as the London Spine Institute in London, Ontario.
The London Spine Institute, known for its interdisciplinary approach to treating spinal conditions, is run by a team of physicians experienced in diagnosing and treating back, neck, and other spinal conditions.
It also has a team of affiliate therapists, primarily dedicated to addressing both physical and mental aspects of acute and chronic pain, focusing on evidence-based care and functional recovery.
The transaction came into effect on 12 January 2024.
As per the agreement, London Spine Institute will retain its existing name for an initial period, with NeuPath planning to rebrand the institute at a later date.
The deal will not impact the operations of the existing team of London Spine Institute, with its physicians continuing to provide care from the same location.
NeuPath said that the deal will not significantly affect its financial performance for the year 2024.
The company financed the acquisition using its existing cash reserves.
NeuPath CEO Joe Walewicz said: “We are thrilled to welcome the London Spine physicians to the NeuPath team, expanding our presence and our roster of specialists in our core London market.
“Our improved balance sheet and better cash flows will allow us to continue investing in selected growth opportunities, and we are evaluating multiple potential expansion options across the country.”
Based in Canada, NeuPath owns and operates an extensive network of healthcare clinics across Ontario and Alberta, offering a range of services, including assessments and rehabilitation for chronic pain and musculoskeletal injuries.
The company also provides workplace health services, independent medical assessments, and contract research services.
In February 2021, NeuPath Health acquired a 100% stake in an interdisciplinary clinic in Alberta, Canada, named HealthPointe Medical Centres.
