The Orthopaedic Institute Announces New Executive Leadership

April 9, 2018

GAINESVILLE, Fla. — April 9, 2018 — The Orthopaedic Institute (“TOI” or “the Company”), a leading provider of integrated orthopedic surgical care and ancillary patient treatment services across North Central Florida, today announced new executive leadership, which includes: Dr. Richard Gilbert as Chief Executive Officer, William Hubbard as Chief Operating Officer, and Michael Anderson as Vice President of Corporate Development. In addition, Dr. Andrew Rocca has been named Chief Medical Officer, expanding upon his previous clinical and managerial duties for the Company.

These additions to TOI’s executive leadership team follow the recently completed growth equity partnership with Varsity Healthcare Partners, a lower middle-market private equity investment firm focused on building leading healthcare services companies.

Dr. Rich Gilbert, CEO, brings more than 25 years of healthcare management experience to TOI. Most recently, he served as President of the Medical Group of MDLIVE, one of the largest providers of telehealth in the country. Prior to MDLIVE, Dr. Gilbert served as Chief Medical Officer of MEDNAX and was responsible for thousands of healthcare specialists throughout the country. His prior experience also includes CEO roles with Southeast Anesthesiology Consultants, Southeast Pain Care and Quantum. He served as Chief of the Department of Anesthesiology and Medical Staff President at Carolinas Medical Center and held a board position for Carolinas HealthCare System. Dr. Gilbert received his MBA from Duke University and currently serves on the Duke University Fuqua Business School Healthcare Alumni Advisory Board. He has a medical degree from the University of California, San Francisco Medical School. Dr. Gilbert completed an anesthesiology residency, in addition to fellowships in both cardiac anesthesiology and pain management, at Harvard Medical School, Beth Israel Hospital, where he served as Chief Resident.

William Hubbard, COO, was most recently a Vice President of Operations for Carolinas Healthcare System a not-for-profit healthcare system with 900+ care locations, nearly 60,000 employees and $9 billion in annual net revenue. Prior to Carolinas Healthcare System, Hubbard was with Blue Cross Blue Shield of North Carolina where he served as a marketing analyst and worked on planning and strategic projects. Hubbard served in the United States Navy from 1990 to 1994. He holds a Master of Healthcare Administration (MHA) from The University of North Carolina, Chapel Hill and a BS in Healthcare Administration with a minor in Business Administration from The University of North Florida, Jacksonville.

Michael Anderson was most recently a Director with Bregal Partners, a New York-based private equity fund. At Bregal, Anderson led the firm’s healthcare services efforts including developing theses, deal sourcing, allocating internal resources across deals, leading diligence and investment committee processes, raising financing, and serving as liaison to management teams. Prior to Bregal, Anderson was a Principal at Lee Equity Partners where he also led the firm’s healthcare services efforts. Anderson began his career with Bain & Company in Boston and holds a B.S. in Economics and a minor in Political Science from Duke University where he graduated Summa Cum Laude.

The additions to TOI’s executive leadership are anticipated to accelerate TOI’s clinical footprint growth throughout North Central Florida.

About The Orthopaedic Institute

Based in Gainesville, Florida, The Orthopaedic Institute is among the state’s largest providers of clinical and surgical orthopedic treatment and ancillary patient care services. Utilizing a network of six clinical locations and two physician-owned ambulatory surgery centers, TOI provides a broad spectrum of comprehensive, patient-centric musculoskeletal care. Services range from injury prevention and diagnosis to complex surgical treatment and intensive rehabilitation. TOI’s comprehensive service line is administered by its 33 highly trained physicians, supported by the Company’s long-tenured clinical support staff, seasoned managerial leadership, and centralized business services platform.

About Varsity Healthcare Partners

Varsity Healthcare Partners (VHP) is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP has been successful in developing and executing a tailored value-creation plan, in partnership with the leadership of each company, that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. VHP draws upon its extensive healthcare industry experience and relationships, as well as its hands-on partnership approach to effectively drive growth and maximize value. For more information please visit:

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Prosek Partners
Mickey Mandelbaum, 212-279-3115
Nick Rust, 212-279-3115

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