Irving-based U.S. Oral Surgery Management, which calls itself “the first and largest physician practice management company” in the oral and maxillofacial surgery specialty, has closed on a new $150 million credit expansion. The company said the move positions it for continued growth through 2024 and beyond.

USOSM said its growth has continued this year with more than $100 million of acquired revenue anticipated.

“We have expanded our credit facility with our existing lenders,” USOSM President and CEO Richard Hall said in a statement. “This additional capital will fund our continued growth through 2024 and beyond. The credit markets continue to be more limited for PPM businesses, and not all credit is equal. Only companies with well-established track records and exceptional performance will successfully obtain access to growth capital at reasonable terms.”

“We’re extremely proud that USOSM’s performance provided our lenders with the confidence to expand their commitment,’ Hall added. “This additional dry powder and our track record of timely closings with the top oral surgeons in the industry will give future partners confidence in our certainty to close.”

USOSM Chief Financial Officer Henry Moomaw said the company worked diligently to attract the new funding.

“USOSM and our equity backer, Oak Hill Capital, worked closely with our existing lenders in pursuit of this significant credit expansion, despite capital market challenges that many of our competitors have encountered,” Moomaw said in a statement. “We’re grateful for the support of our current lenders, and we understand this exemplifies the level of confidence our lenders have in USOSM.”

Founded in 2017

USOSM was founded in November 2017 and is a specialty management services company that exclusively serves premier, board-certified oral and maxillofacial surgeons.

Describing itself as the first company of its kind, USOSM said it partners with more than 180 oral and maxillofacial surgery practice locations across 26 states.

USOSM said it has a 100% partner practice retention rate and more than 51% of the company is owned by the oral surgeons themselves.

USOSM partner practices consistently achieve a Net Promoter Score of 80 or above, USOSM said, a feat that’s recognized as “world-class” by one of the ranking system’s founders: Bain & Co.

“We’re excited to continue to be recognized as the leader in the industry,” Hall said .”Our success is driven by our laser focus on oral and maxillofacial surgery and on our surgeon partners in support of their service to their patients. We continue to grow and thrive despite increased competition, challenging capital markets, and high interest rates.”

Hall said a driving force behind the company’s growth is the quality of its surgeon partners.

Surgeon partners gain an equity stake in USOSM

“We’ve always been highly selective about with whom we partner. Our partners are industry leaders,” Hall said. “They’re all board certified, highly trained and highly skilled. They’re also true partners—they all have a material, equity stake in USOSM and complete clinical autonomy.”

USOSM provides operational, marketing, and administrative support services, reinvests resources, and applies “best practices to improve clinical and financial performance and produce steadier, more profitable growth for all.”

The company is backed by the New York City-based private equity firm Oak Hill Capital, a longstanding private equity firm focused on the North America middle-market.

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