Alliance Physical Therapy Partners, a portfolio company of GPB Capital, added on to its growing rehabilitation platform last week. On February 9, its affiliate, Physical Therapy Management, LLC signed a definitive agreement to acquire the U.S. operations of Agility Health, Inc. (TSXV: AHI), known as Agility Health LLC.
Alliance PT will acquire 100% of the membership interests in Agility Health, LLC, based in Grand Rapids, Michigan, for a total transaction value of $45 million. Agility Health’s U.S. division operates over 50 outpatient or on-site physical therapy clinics, and also provides contract rehabilitation services to over 90 hospitals, inpatient rehabilitation units, long-term care facilities, and industrial worksites across 21 states.
Following the acquisition, Alliance PT will provide rehabilitation services to over 165 physical therapy locations in 25 states. In addition, Alliance PT will be able to leverage Agility Health’s corporate infrastructure to provide a suite of support services to its national footprint of clinics, including and without limitation billing, revenue cycle management, payroll, compliance, recruiting, and marketing.
The Alliance PT platform was formed last year, as GPB Capital acquired majority stakes in Back in Motion Physical Therapy, LLC, Rehab Access, Arrow Physicial Therapy & Rehabilitation and Whatcom Physical Therapy. The firm announced those acquisitions in August 2017, with a combined total of 11 centers in Lousiana, Maine, New Jersey and Washington state.
Since then, Alliance PT has added SOL Physical Therapy + Performance Training in Oakland, California, Results Physical Therapy in Maine, and Franklin Rehabilitation in Wisconsin.