M&A in the rehabilitation sector has been pretty slow this year. So slow, in fact, no deals were recorded in February.
The first week in March, however, things picked up. U.S. Physical Therapy, Inc. (NYSE: USPH) announced it acquired a 55% stake in an unidentified physical therapy practice that operates through eight clinics. The stake cost $13.7 million, and the business generates approximately $9.0 million a year on roughly 65,000 patient visits.
The second deal came from MOTION PT Group, Inc., a portfolio company of Pharos Capital Group, which is getting into physical and occupational therapy in a big way.
MOTION PT was launched in 2015, and began buying up PT companies in the New York metropolital area. Its latest acquisition is Community Physical Therapy, a three-clinic business based in Queens, New York. This is just one more stop on MOTION PT’s quest to become the premier physical therapy network in New York City.