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IBS Investment Bank Acquires Interest in The Progressive Orthopaedic Company, LLC

IBS Investment Bank Acquires Interest in The Progressive Orthopaedic Company, LLC

IBS Investment Bank today announced its acquisition of minority interest in implantable medical device manufacturer The Progressive Orthopaedic Company, LLC .

Online PR News – 03-April-2017 – Fort Lauderdale-based private equity firm IBS Investment Bank a division of Institutional Banking Services, N.A. CORP (IBS, N.A.) today announced its acquisition of minority membership interest in North Palm Beach, FL based implantable medical device manufacturer The Progressive Orthopaedic Company, LLC (Progressive).

The announcement comes on the heels of the firms March 2017 commitment to invest $50MM to South Florida companies through the form of direct equity investments while leveraging its robust lending platform to increase its return on equity. IBS, N.A. senior executive, Jason Jackson is expected to lead his firm to invest in at least 10 more South Florida Based companies prior to 2017 year-end. I am excited to be partnered with IBS as both a financial services provider and equity partner. We look forward to increasing our supply of quality implants to the orthopedic community at a tremendous value as a result of the support of our suppliers and our new partner IBS, said Progressive Managing Director, T Bradley Harris.

Hip and knee replacements are the most common inpatient surgery for Medicare patients, with more than $7 billion spent on 360,000 procedures in 2014 alone. With the average total cost of care and recovery ranging between $18,000 and $35,000 per patient, Progressives high-quality, low-cost alternative has garnered the attention of hospitals and distributors nationwide. Our partnership with Brad and his team delivers Progressive a distinct advantage in accessing capital markets to ensure the appropriate inventory to demand ratios IBS, N.A. Chairman and Chief Investment Officer Jason Jackson told reporters.

About IBS Investment Bank
IBS Investment Bank (IBS, NA) is a privately held institutional banking firm dedicated to providing investment management and advisory, corporate finance, real estate finance, acquisition and management to its institutional clients. For more information visit www.ibsinvestmentbank.com or www.IBSREICO.com

About Progressive Orthopaedic Company
Progressive Orthopaedic is a full-line orthopedic implant distributor of low-cost orthopedic implants.The company is based on the usage of stable orthopedic technologies. For more information, visit http://progressiveorthopaedics.com.

Quote:

“I am excited to be partnered with IBS as both a financial services provider and equity partner. We look forward to increasing our supply of quality implants to the orthopedic community at a tremendous value as a result of the support of our suppliers and our new partner IBS, said Progressive Managing Director, T Bradley Harris.”

Company Contact Information
Natalie Rose
http://www.ibsinvestmentbank.com
954.889.5827 ext804
 

About Valentin Luboya

Valentin Luboya
I’ve been involved with numerous aspects of real estate since 2008, but my vision and passion is in flipping houses.I love the fact that when I am done with a rehab, I can see tangible results for the effort I have put in.And I love that I am creating homes for new families I can put a smile on the face of kids. I get paid for helping others.

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