ATI Physical Therapy, Inc. (“ATI” or the “Company”), a portfolio company of Advent International (“Advent”) and one of the nation’s largest providers of outpatient physical therapy services, has completed its business combination with Fortress Value Acquisition Corp. II (“FVAC II”) (NYSE: FAII), a special purpose acquisition company. ATI owns and operates nearly 900 physical therapy clinics across 24 states. In partnership with Advent, ATI’s technology and operational investments have enabled the Company to grow its clinic footprint by 50 percent while consistently putting patient care first and further enhancing its clinician-centric culture.
Excel Physical Therapy (“EXCEL”), New Jersey’s premier provider of orthopedic physical therapy since 1990, is pleased to announce its newest partnership with Team Rehab Physical Therapy, based in West Deptford, NJ. Established in 1992, Team Rehab will remain helmed by current owner, Michael Donoghue, PT, DPT, ATC. EXCEL continues to expand its reach across New Jersey and further into Southern New Jersey territory. The newest location will be the company’s first in Gloucester County and its southernmost site overall. With the addition of the West Deptford office, EXCEL now operates 22 locations throughout nine counties.
Physical Rehabilitation Network (PRN), a leading physical therapy provider and practice management organization, announced Tuesday further expansion in California and its first-ever clinic in Sacramento, with its acquisition of Rocklin Physical Therapy, Inc. The addition of Rocklin Physical Therapy elevates PRN’s California footprint to 51 clinics and national clinic count to 156 locations. Under this new partnership, PRN will acquire Rocklin Physical Therapy’s sole outpatient physical therapy clinic, which boasts a spacious 6,000 square foot treatment area.
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $44 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire CORA Health Holdings Corp. and its subsidiaries, doing business as CORA Physical Therapy (“CORA” or the “Company”), a leading operator of outpatient physical and occupational therapy clinics. Headquartered in Charlotte, North Carolina, CORA currently operates 228 outpatient physical therapy clinics across nine U.S. states, primarily in the Southeast.
One little-discussed, long-term toll of the pandemic: Large numbers of older adults have become physically and cognitively debilitated and less able to care for themselves during 15 months of sheltering in place. No large-scale studies have documented the extent of this phenomenon. But physicians, physical therapists and health plan leaders said the prospect of increased impairment and frailty in the older population is a growing concern.
Confluent Health has announced its newest partnership with Physical Therapy Care & Aquatic Rehab of Fort Bend (PT Care), a private and therapist-owned physical therapy practice with 2 locations within Fort Bend County, Texas. “Over the past 18 years, PT Care has evolved its practice to treat patients from pediatrics to geriatrics from acute to chronic conditions,” says President Patti Kocich, PT. “Throughout the years our practice has also grown to include state-of-the-art equipment including in-ground specialty pools within a family-oriented atmosphere.”
Audax Private Equity portfolio company Phoenix Physical Therapy has acquired Georgia-based Horizon Physical Therapy, a provider of outpatient physical therapy with two locations in Georgia. This transaction represents Phoenix’s eight acquisition since Audax’s initial investment in December 2018.
Great Point Partners’ (“GPP”) portfolio company, Spine & Sport Physical Therapy (“Spine & Sport”), a leading provider of outpatient physical therapy and rehabilitation services in California, has acquired Results Physical Therapy and Training Center (“Results PT”). Results PT operates four locations in Sacramento, CA. The addition is the fifth acquisition Spine & Sport has made since Great Point’s investment in December 2018.
Professional Physical Therapy, a leading provider of outpatient physical therapy and rehabilitation services throughout New York, New Jersey, Connecticut, Massachusetts, and New Hampshire, announces the simultaneous acquisition of two additional independent physical therapy practices. Both Freehold Physical Therapy in Freehold, New Jersey, and Pro Sports Physical Therapy of Westchester in Scarsdale, New York, have been acquired by Professional Physical Therapy.
The Ivy Rehab Network (“Ivy”), a national leader in outpatient musculoskeletal rehabilitative services, is pleased to announce its partnership with Park Sports Physical Therapy. Comprised of four locations in Brooklyn, NY, Park Sports represents the Ivy Rehab Network’s first set of clinics in New York City. Founded over 20 years ago by Boris Gilzon and Svetlana Lazarev in the Park Slope area of Brooklyn, Park Sports maintains a local reputation for providing individualized, neighborly care in modern facilities that featuring state-of-the-art equipment, including the AlterG Anti-Gravity Treadmill.
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