Albaron Partners Acquires Great Lakes Foot & Ankle Institute, Creating a Midwest-Focused Podiatry Platform

New York, NY, and Detroit, MI, January 8, 2019 - Great Lakes Foot & Ankle Institute, a Michigan-based regional leader in comprehensive foot and ankle care, and Albaron Partners, LP, today announced that Great Lakes has been acquired by affiliates of Albaron. The investment anchors Beyond Podiatry, the first private equity-backed podiatry management services organization. Founder and Chief Medical Officer Dr. Stephen Frascone has retained a minority ownership stake.

"The Great Lakes team looks forward to leveraging Albaron's operating capabilities, capital resources and healthcare expertise to further expand its geographic reach and service offerings as part of the Beyond Podiatry network," explained Dr. Frascone.

"We have tracked the significant opportunities in the podiatry market for several years and are excited to partner with Dr. Frascone and the talented team at Great Lakes to build a leader in the U.S. podiatry market," said Alessio Baraldi, Founder and Partner of Albaron. "Dr. Frascone's superior reputation and proven leadership make him the ideal partner for Beyond Podiatry."

Based in Detroit, Great Lakes Foot & Ankle Institute treats a breadth of acute and chronic foot and ankle conditions. Founded in 1978, the practice sees more than 45,000 patients each year across five clinics in the Detroit metropolitan area.