Case Study: Physiotherapy Associates

Physiotherapy Associates logo

Deal Synopsis


  • We recruited the former CEO of outpatient services at NovaCare Rehabilitation, Ron Hiscock, to build a national business in the outpatient rehabilitation sector: Physiotherapy Associates (formerly Benchmark Medical, Inc., BMI).

About Wind Point Partners

  • We selected Wind Point Partners (“WPP”) as the sponsor. WPP made an initial equity commitment of $50 million to fund the team’s initiatives

Transaction Outcomes

  • Year one revenues were >$90 million with 18% EBITDA margins
  • Benchmark Medical was sold in 2012 to Court Square Capital Partners with annual revenues of >$400 million and $75 million in EBITDA (achieved growth mostly through acquisitions executed under our leadership)

Our Role


  • We forged a strategic partnership plan for BMI to pursue proprietary deal flow throughout the country


  • We spearheaded the platform’s build, and subsequent add-on transactions, once again relying on our proprietary deal flow