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Podiatry Growth Partners
Podiatry Growth Partners is a St. Louis-based family office that acquires and scales independent podiatric medicine practices across the U.S.
Podiatry Growth Partners
Podiatry Growth Partners was founded in 2018 by Michael J. Treon, a healthcare private equity veteran, and Dr. David B. Porter, a practicing podiatric surgeon and former academic chair. The firm's wealth originates from Porter's clinical practice ownership, and it operates as a single-family office dedicated to podiatric medicine rather than a diversified investment vehicle. The firm executes a buy-and-build strategy in the U.S. podiatry market, acquiring single-specialty groups and integrating them into a unified platform. Asset-class exposure spans private equity (control deals in healthcare services) and real estate (clinical office properties). Sectors targeted include general podiatry, wound care, orthopedics, and diabetic foot management. Known portfolio companies include Central Illinois Foot & Ankle (per public record, 2020) and St. Louis Podiatry Associates (per public record, 2021). Geographically, the firm concentrates in the Midwest and Southeast regions, with additional clinics in Florida and Texas. Total disclosed deployment is limited; the firm has not publicly reported AUM or annual deployment. Team size is unknown, but the leadership includes a mix of clinical and operational professionals. The firm has no separate foundation or investment vehicles on public record. In October 2023, the firm opened its fifth clinical location in St. Charles, MO (per public record). What distinguishes Podiatry Growth Partners from generic healthcare PE is its exclusive focus on podiatry — a subspecialty with limited institutional interest — combined with its family-office governance structure. The operating-company relationship between the clinical practices and the family office means capital decisions are made with direct clinical input rather than purely financial return targets.
General information
Firm type
Single Family Office
Year founded
2018
AUM
Undisclosed (Altss estimate)
Location
Region
North America
Country
United States
City
St. Louis
Corporate office
St. Louis, MO, United States
Principals
Michael J. Treon
Founder and Managing Partner
Dr. David B. Porter
Chief Medical Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Podiatry Growth Partners?
Michael J. Treon serves as Managing Partner, overseeing investment execution, while Dr. David B. Porter provides clinical leadership as Chief Medical Officer. Treon has a background in healthcare private equity; Porter is a practicing podiatric surgeon. Investment decisions are made jointly by the two, with Treon driving deal sourcing and capital allocation and Porter evaluating clinical fit.
Is Podiatry Growth Partners structured as a single family office or a private equity firm?
The firm operates as a single-family office, not a blind-pool fund or institutional PE fund. Wealth originates from Dr. Porter's podiatry practice ownership. The firm does not raise external third-party capital; it invests from the Porter family balance sheet, giving it flexibility to hold assets longer than traditional PE timelines.
What investment stages does the firm typically target?
Podiatry Growth Partners focuses exclusively on control acquisitions of independent podiatry groups, typically in suburban and mid-sized metro markets. It avoids startup or early-stage deals. The firm targets practices with $1–5 million in annual revenue and does platform roll-ups rather than add-ons for existing portfolio companies.
Which sectors does Podiatry Growth Partners explicitly avoid?
The firm explicitly avoids podiatry-adjacent sectors like chiropractic, physical therapy, oral surgery, and general primary care. Its mandate is pure podiatry — ranging from routine foot and ankle care to diabetic wound management and surgical podiatry. It does not invest in technology, real estate outside clinical offices, or any non-healthcare verticals.
How does the firm generate proprietary deal flow?
Deal flow comes predominantly from Dr. Porter's clinical network and the firm's growing footprint in the Midwest and Southeast. The firm uses no external brokers or auction processes; it approaches independent practitioners directly through peer referrals and industry conferences. Active sourcing is centralized through Treon.
Does Podiatry Growth Partners maintain philanthropic structures?
On public record, the firm operates no separate foundation or charitable vehicle. Any philanthropic activity would run through the Porter family's personal giving, which is not disclosed. The operating practices themselves do not appear to have formal charitable mandates.
What is the firm's known posture on co-investments?
As a single-family office investing its own balance sheet, Podiatry Growth Partners does not co-invest with external investors or participate in fund commitments. It does not syndicate deals or sell stakes. The mandate is to control and operate across the full lifecycle of each practice, not to trade or distribute assets.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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