Progress with Purpose
A Year of Transformation
Growing our impact, elevating care, and building the future of musculoskeletal health.
PROGRESS WITH PURPOSE
This past year has been nothing short of transformative. We’ve not only grown in size, but in impact.
We are reaching more people, elevating the care we provide, and pushing the boundaries of what is possible in musculoskeletal health. From broadening our global footprint and refining our digital tools to expanding our team and surpassing
key milestones, it’s been a year of meaningful progress. Behind every success is the hard work, resilience, and shared purpose of our teams and partners. We are laying a powerful foundation for what’s coming next.
HOPCo BY THE NUMBERS
• Our growth tells a story of momentum, innovation, and a deepening commitment to better care for our treasured patients.
• Ambulatory Surgery Centers (ASCs): We've grown from 3 ASCs in 2020 to 11 today, with 4 more in the pipeline. And we’re not slowing down. With new locations in St. Augustine, FL, and Madison, WI set to launch in early 2026, we are reflecting the industrywide shift toward outpatient surgical care.
• Hospital Partnerships: 26 hospitals have now joined our network through HSLI and HRO partnerships, expanding our reach and deepening collaboration.
• Practice Network: Our community of HOPCo practice providers has now surpassed 900 strong, driving impact across every patient touchpoint.
• Encounters: As of 2025, we’ve supported 1,854,476 patient encounters, representing a 4.1% year-over-year increase. More people are accessing the care they need and doing so more quickly.
INTERNATIONAL GROWTH EXPANDS OUR DIGITAL HEALTH HORIZON
One of the year’s most exciting milestones is our acquisition of Caro Health. This is a pivotal step in advancing our vision to create the most comprehensive digital health platform for MSK care. Founded in 2019, Caro Health has quickly become a leader in conversational AI, helping patients and clinicians cut through the noise of complex data and decrease the friction of patients receiving care. Their platform enables clear, personalized communication at scale, improving the patient experience while streamlining clinical workflows. Already active in over 40 healthcare locations across the Netherlands and Belgium, Caro supports a range of subspecialties within the musculoskeletal arena.
“The Caro team has clearly demonstrated that when partnering with physicians to combine bestin-class technology with deep clinical expertise, Conversational and Generative AI can enhance both patient experience and operational workflow. This enables both physicians and administrators to focus on delivering patient care,” said Dr. Tom Harte, President of HOPCo Digital. “We have been hugely impressed with Caro’s thoughtful approach to integrating Conversational AI into complex clinical workflows.”
By integrating Caro’s technology into our digital ecosystem, we’re accelerating our AI roadmap and unlocking new opportunities to deliver highquality, cost-effective care globally, at a time when efficiency is more critical than ever for both physician practices and patients.
This is just the beginning. Strategic acquisitions like Caro, paired with our ongoing investment in talent and product innovation, are propelling us forward faster than ever.
“We have been hugely impressed with Caro’s thoughtful approach to integrating Conversational AI into complex clinical workflows.”
VALUE BASED CARE GROWTH: BUILDING ON PROGRESS
HOPCo has partnered with Humana in Arizona to implement its digital Integrated Care System (ICS) and value-based care platform, supporting a coordinated, data-driven approach across the full musculoskeletal (MSK) care continuum.
This platform leverages proprietary digital engagement tools, including myRecovery ® , to connect and activate patients early and upstream, beginning with primary care and continuing seamlessly into specialty MSK care. Through the HOPCo Specialty Care Network (HSCN), our statewide clinically integrated network (CIN), patients receive care aligned with evidence-based guidelines and supported by real-time claims and outcomes analytics.
HSCN is the only URAC-accredited MSK CIN in the country, bringing together over 230 MSK specialists across Arizona. This collaboration leverages HOPCo’s digital and claims analytics infrastructure and deploys standardized clinical pathways, shared quality metrics, and aligned incentives that support both clinical excellence and cost efficiency.
This new partnership will expand the Arizona program to include 110,000 additional Humana members. HOPCo’s program has consistently demonstrated reductions in the total cost of MSK care while improving care coordination, outcomes, and provider alignment.
STRATEGIC PARTNERSHIPS DRIVING
INNOVATION IN MSK
CARE
HOPCo’s growing network of strategic partnerships continues to extend the reach and impact of our digital tools, clinical insights, and value-based care solutions, both nationally and internationally. These collaborations support the delivery of more efficient, connected, and patient-centered musculoskeletal care across a wide range of settings.
Our channel partnership with Smith+Nephew leverages their global sales infrastructure to expand access to myrecovery™ and Vitals™, while also integrating with HOPCo’s Longitudinal Data Insights MSK database to inform longitudinal outcomes research, drive innovation, and deliver added value for customers.
In the U.S., our strategic partnership with ATI Physical Therapy launched in 2024 and has quickly scaled from regional to a national rollout. This collaboration powers ATI’s remote therapeutic monitoring programs using myrecovery™, serving as a digital entry point for patient and provider engagement, and supporting virtual care and exercise pathways. Together, we’re also developing joint programs for the Direct-to-Employer market. ATI remains a valued partner, helping us integrate care seamlessly across our platforms.
Internationally, our myrecovery™ licensing partnership with the NHS is helping to modernize MSK care delivery across the UK. Following our 2022 acquisition of Future Health Works, the NHS has been leveraging myrecovery™ to manage surgical waitlists, increase throughput, and optimize perioperative and post-operative patient management.
Each of these partnerships exemplifies our commitment to scaling clinically integrated, technology-enabled solutions that improve outcomes, reduce variability, and deliver value across the entire MSK care continuum.
ASC STRATEGY & SITE OF SERVICE OPTIMIZATION
Since 2020, HOPCo has significantly expanded its ambulatory surgery center (ASC) footprint from 3 ASCs to 11 today. With two more scheduled to open in early 2026 in St. Augustine, FL (Southeast Orthopedic Specialists) and Madison, WI (Orthopedic & Spine Centers of Wisconsin), we continue to grow. This growth aligns with the broader national trend toward outpatient surgical care, which offers lower costs, faster recovery
times, better patient experience scores, and strong patient outcomes.
That said, our ASC strategy doesn’t replace the need for hospitals but complements it. We continue to work closely with our hospital partners through strategic HSLI and value-based care (VBC) models to ensure trauma and complex cases receive appropriate, high-acuity care.
A “JOINT” STRATEGY FOR BETTER CARE
HOPCo’s ASC strategy isn’t about moving away from hospitals completely; it's about working together to ensure each patient is treated in the most efficient, clinically appropriate setting. Many procedures still require hospital-based care, especially for high-risk or complex cases. Existing published literature supports the shift to the outpatient space for an increasing number of procedures, including the vast majority of arthroplasty cases. As technology and safety protocols advance, we’ll continue to transition appropriate cases to ASCs, in partnership
with hospitals, to share both clinical and financial benefits.
“Our goal is to maximize patient outcomes by steering surgical volume to the most patientfriendly and cost-effective setting, without losing sight of the vital role hospitals play in the continuum of care,” said Nate Brodman. “By working together, we enhance access, outcomes, and long-term sustainability.”
HSLI:
OPERATIONALIZING MSK SERVICE LINE
TRANSFORMATION
Through the HOPCo Service Line Integration (HSLI) model, health systems can scale and improve their MSK service lines using a fully accountable, on-site managed approach. This model currently supports six health systems nationwide, including Pardee, Watertown Regional Medical Center, Memorial Healthcare System, Ascension (St. Vincent and Sacred Heart), Physicians Regional, and Northwell/Nuvance.
HOW DOES IT ACTUALLY WORK AND WHY DOES IT MATTER?
• Health systems license HOPCo’s proprietary IP and employ HOPCo-managed, on-site staff.
• Programs are guided by evidence-based clinical pathways, predictive analytics, and digital tools like Vitals and myrecovery™.
• This embedded model drives real transformation.
• Deep operational alignment yields reductions in case variation, complication rates, and readmissions, while improving OR efficiency, surgeon recruitment, and service line growth.
• HOPCo’s boots-on-the-ground model featuring embedded executive directors, service line leaders, analytics, and marketing support goes well beyond traditional consulting to drive real transformation on the frontline. This helps the hospitals, the physicians, and our patients.
THERAPY & WELLNESS AT ORTHOPEDIC CENTERS OF FLORIDA: Q3 HIGHLIGHTS
Orthopedic Centers of Florida continues to innovate in integrated wellness services, offering a full spectrum of PT, OT, massage, and personal training. These services are complemented by advanced diagnostics to support proactive, personalized care.
KEY PROGRAMS INCLUDE:
• Metabolic testing combines VO2 max and resting metabolic rate measurements to enable precise assessment of cardiovascular fitness and basal caloric needs to support tailored fitness, nutrition, and longevity strategies.
• The ONERO program is an evidence based, supervised, osteoporosis-specific strength training in twice weekly small-group sessions that focus on posture alignment, targeted resistance exercises, and fall-risk reduction to build bone strength and improve functional stability.
• DXA Scanning provides full-body composition analysis, measuring lean mass, fat mass, and bone density to support goal tracking and inform lifestyle guidance.
These services advance OCF’s mission to deliver holistic, outcome-driven care for Southwest Floridians.
THE CORE INSTITUTE: EXPANDING RTM IN ARIZONA
In Arizona, The CORE Institute continues to embrace and expand its use of myrecovery™ for Remote Therapeutic Monitoring (RTM), to enhance value-based care delivery. This allows for earlier intervention, enabling care teams to proactively address worsening symptoms and reduce both care delay and unnecessary in-person visits by detecting trends and anomalies sooner.
The encrypted two-way chat also streamlines communication for patients with simple questions and concerns. RTM is now active across nine Arizona clinics, including Flagstaff, and supports continuity of care while improving efficiency and patient convenience. This integration strengthens HOPCo’s strategic framework for optimizing outpatient care and driving cost-effective management. Outcomes in the literature support equal or improved outcomes with a lower cost, driving higher-value care.
Other practices using RTM services include CORE AZ, Premier, Swift, and Orthopedic Center of Florida. This strategic rollout underscores HOPCo’s focus on cost-effective, tech-enabled outpatient care. Although change is never easy, we recognize it as the future, and HOPCo remains committed to leading the way.
SOS SPOTLIGHT: THERAPY SERVICES
DRIVING GROWTH
135,490
THERAPY VISITS
53+ FULL-TIME THERAPISTS
10-12
APPOINTMENTS PER THERAPIST PER DAY
Last year, Southeast Orthopedic Specialists delivered 135,490 therapy visits, supported by a growing team (from 38 to 53 full-time therapists). In 2025, productivity has risen from 10.2 to 12 appointments per therapist per day. Strategic expansion into highdemand markets and disciplined staffing ensure consistent productivity models.
“When therapists are at capacity, we hire. If not, we convert more referrals,” says Jeff Berry, VP Ancillary Services & Growth.
Southeast Orthopedic Specialists projects ~153,000 PT visits in 2025 with continued staffing growth. SOS’s long-term strategy is to capture 350,000 visits, resulting in a potential $20M+ revenue opportunity while maintaining highquality care.
LEADERSHIP UPDATES
We’re delighted to welcome our newest team members, whose addition supports HOPCo’s continued national expansion, enhances operational excellence, and reinforces our leadership in driving innovation around value based care.
PAUL SIROIS CFO, OrthoConnecticut
Paul is a tenured C-level executive in healthcare, leading across post-acute, inpatient, and outpatient settings. A pragmatic and solutions-driven leader, Paul takes an analytical yet open-minded approach to decision-making, prioritizing practical and sustainable outcomes. Outside of his professional life, Paul is an avid skier and antique home-restoration enthusiast. A native and current resident of Fairfield County, CT, Paul enjoys life here with his wife and their two children.
A NOTE FROM PAUL
“To join an orthopedic practice whose name has been synonymous with excellence for decades in Connecticut is to step into a legacy built on skill, compassion, and trust. The quality and reputation of these physicians is not just well known, it is the gold standard, the premier orthopedic specialty provider in western Connecticut. I’m honored to be part of their journey of growth, and excited to contribute to a future as distinguished as its past.”
JOE IBRAHIM EVP, Global Supply Chain & Logistics
Coming from Medtronic, and with over 24 years of diverse experience in supply chain, operations, medical devices, and healthcare, Joe is a seasoned leader grounded in operational excellence and data analytics. Joe strives to link these disciplines to financial performance and talent development. Throughout his career, Joe has led transformational programs, including building centers of excellence and advanced analytics teams, while embracing the mindset of a servant leader.
A NOTE FROM JOE : “I’m thrilled by the opportunity to support the world leader in integrated musculoskeletal care delivery, practice management, and value-based orthopedic care. Building collaborative partnerships across hospitals, clinics, and suppliers ensures we deliver the best outcomes for our patients. This entrepreneurial mindset empowers us to engineer the extraordinary.”
RYAN MARTIN Chief People Officer
Ryan Martin is a distinguished HR leader with over 15 years of experience in strategic HR and cultural transformation. Previously at Verra Mobility and at Mars, Inc., he championed HR initiatives that fueled growth and success. Ryan’s early career in construction management at Shea Homes sparked a passion for process optimization and problem-solving, skills he brings into HR leadership. Based in Phoenix for four years with his wife, Brittney, and their five children, he blends personal insight with professional expertise.
A NOTE FROM RYAN: “What motivates me most is shaping the future of this organization while ensuring every person feels valued, supported, and empowered to do their best work.”
CHRIS VANNELLO CEO, Premier Orthopaedics / Philadelphia Hand to Shoulder
Chris is an experienced healthcare leader with a strong background in Quality, Business Development, and Operations. In her previous role, she oversaw organization-wide quality improvement initiatives and led the development of episode-of-care strategies aligned with value-based payment models. With a focus on driving measurable improvements in healthcare delivery, Chris combines clinical expertise with strategic leadership to advance quality, safety, and patient outcomes in complex healthcare systems.
A NOTE FROM CHRIS: “I’m incredibly honored and excited to step into my new role. I’m deeply committed to driving innovation, collaboration, and excellence across our practice. I look forward to working closely with our talented teams to elevate patient care, optimize operations, and create lasting impact. The future is bright, and I’m thrilled to be part of shaping it.”
THOUGHT LEADERSHIP & CONFERENCE PRESENCE
As HOPCo continues to drive the transformation of musculoskeletal care, our participation in several key national conferences this fall underscores our commitment to innovation, collaboration, and thought leadership. From showcasing cutting-edge digital solutions and sponsoring the American Association of Hip and Knee Surgeons (AAHKS) in Dallas, to sponsoring the International Orthopedic Education Network (IOEN) at Indiana Orthopedic Institute (IOI), to convening with industry leaders at the MORE Foundation’s MSK Business in Scottsdale, these events offer powerful opportunities to elevate HOPCo’s mission and expand our impact across the MSK landscape.
“Our research focuses on applying digital technologies, predictive analytics, and value-based care models to optimize outcomes, improve resource utilization, and promote equity in musculoskeletal care, particularly in total joint arthroplasty,” said Alison Klika, Executive Vice President of Clinical Research at HOPCo.
SPEAKING ENGAGEMENTS - FALL 2025 THROUGH EARLY 2026
• OrthoSummit Annual Meeting (September 19–21, 2025 | Las Vegas)
Æ Niloofar Dehghan will present Shattered Expectations: Evolving Solutions for Proximal Humerus Trauma and case presentations on proximal humerus fractures.
• Hip Society (September 25–27, 2025 | Toronto)
Æ Wael Barsoum will present on strategies for success under bundled models such as BPCI-A, focusing on risk mitigation and economic performance in hip arthroplasty.
• Asia Pacific International Society of Spine Surgery (September 24–27, 2025 | China)
Æ Ali Araghi will present on Artificial Nucleus Replacement.
• American Society of Surgery of the Hand – ASSH (October 2025 | Toronto)
Æ Meredith Osterman will serve as faculty for the Wrist Arthroscopy Pre-course and Instructional Course Lectures (ICLs) on Practice Management: Evidence to Impact and What the ASSH Can Do for You and What You Can Do for Your Society.
Æ Adam Strohl will be faculty for the Complete Hand Flap Course, a full-day Pre-course.
• Orthopaedic Trauma Association Annual Meeting (October 15–18, 2025 | Phoenix)
Æ Niloofar Dehghan will deliver a podium presentation on Reverse Shoulder Arthroplasty for the Trauma Surgeon and present during Podium Session IV: Upper Extremity.
• American Association of Hand Surgery – AAHS (January 13–17, 2026 | Chula Vista)
Æ Meredith Osterman will Co-Chair the Surgical Skills Workshop and lead an ICL on wrist arthroscopy and TFCC repairs.
• 21st Annual Upper Extremity Tutorial (February 2026 | Snowmass, Colorado, hosted by the Philadelphia Hand to Shoulder Center)
Æ Adam Strohl will be an invited speaker at the 2025 Nerve Summit Course.
• Florida Society for Women Hand Surgeons (February 2026 | Florida)
Æ Meredith Osterman will participate as a featured speaker.
• Next Generation in Nerve Panel (February 2026)
Æ Corbin Muetterties will serve as a panel member.
Æ He will also present at the Main Line Health Symposium on Replantation, Revascularization, and Complex Hand Injuries.
These high-profile engagements reflect HOPCo’s leadership in shaping the future of value-based MSK care.
IOEN SEPTEMBER 23-25, 2025 | INDIANAPOLIS, IN
HOPCo is sponsoring the International Orthopedic Education Network 2025, taking place at the newly opened ASC, Indiana Orthopedic Institute. This unique educational event will offer surgeons and healthcare leaders practical strategies and expert insights in the clinical and business sides of ambulatory surgery center (ASC) ownership and operations.
Participants will gain direct, real-world exposure to ASC operations while learning from industry leaders.
FACULTY-LED SESSIONS WILL COVER ESSENTIAL TOPICS SUCH AS:
• Fundamentals Every Surgeon Should Know
• Technologies for Success in the ASC
• Optimizing Patient Encounters
• Partnering with Industry
• Attracting and Recruiting the Next Generation of Surgeons
THOUGHT LEADERSHIP & CONFERENCE PRESENCE
(CONTINUED)
MSK BUSINESS SUMMIT OCT 3–4, 2025 | SCOTTSDALE, AZ:
The MORE Foundation is proud to present its first MSK Business Summit in early October. This event will bring together physician leaders, legal and business experts, healthcare and therapy executives, payors, medical device professionals, and administrators across the musculoskeletal (MSK) space to share actionable strategies for growth, operational excellence, and financial success.
A few featured speakers include Dr. David Jacofsky, CEO and Chairman of HOPCO; Dr. Wael Barsoum, President and Chief Transformation Officer at HOPCo; Dr. Michael Meneghini, Founder and CEO of Indiana Orthopedic Institute; Dana Jacoby, CEO of Vector Medical Group; James Petkum, Former DOJ Prosecutor; Dr. Michael Ast, Chief Medical Innovation Officer at Hospital for Special Surgery; Colby Catania, Director at Houlihan Lokey, along with other nationally recognized MSK experts. The complete agenda, list of speakers, and registration can be found at https://msksummit.org/.
AAHKS OCT. 23 – 26, 2025 | DALLAS, TX:
Please see below for posters with HOPCo co-authors that will be presented at the meeting.
Title Authors
Activity Phenotypes Prior to Total Hip Arthroplasty: Insights from Step Counts and PROMs
Do Mid-Level Constraint Implants Affect Quality Metrics in Primary Total Knee Arthroplasty?
An Unsustainable Reimbursement
Model: A 12-Year Analysis of Surgeon Compensation for Revision THA
Alison Klika, Hady Salama, Angelica Parra, Axel Sylvan, Huy Phan, Thomas Harte, Marc Jacofsky, David Jacofsky, Wael Barsoum
Juan Lizcano, Jesus Villa, Nicolas Piuzzi, Wael Barsoum, Carlos Higuera
Juan Lizcano, Kaitlin Bernabe, Jesus Villa, Nicolas Piuzzi, Wael Barsoum, Carlos Higuera
OTHER AAHKS SYMPOSIUM SPEAKERS AND CHAIRS INCLUDE: David J. Jacofsky, MD, David C. Markel, MD, Thomas J. Harte, MBBS, R. Michael Meneghini, MD, and Wael K. Barsoum, MD.
Do you have upcoming presentations at meetings?
Do you have publications to report, or an interest in research? If so, we want to hear from you! Please reach out to alison.klika@hopco.com.