ClearSky Health, a newly launched rehabilitation platform, is wasting no time on the acquisition front. Created by a partnership between Blue Wolf Capital Partners LLC and Peloton Equity LLC, and a management team led by Darby Brockette, ClearSky Health will develop and acquire inpatient rehabilitation facilities (IRFs) and related post-acute services companies.
Blue Wolf Capital and Peloton Equity are focused on middle-market investments and acquisitions and have a diverse portfolio in the healthcare market.
The company reported it acquired four Texas and Louisiana-based inpatient rehabilitation facilities from Maxim Management Group, LLC. The specific facilities and price terms weren’t disclosed.
After only two announced deals last quarter in the rehabilitation sector, as seen in our Health Care M&A Report, First Quarter 2019 report, it seems the sector is making a comeback. So far, we have five Rehabilitation deals this quarter, including Global Medical REIT Inc.’s (NYSE: GMRE) $94 million acquisition of four IRFs and U.S. Physical Therapy, Inc. $23.6 million purchase of an industrial injury prevention company. Both dollar and deal volume are in a sharp increase compared to last quarter, so we hope to see this trend carried out throughout the rest of the year.