Another rehabilitation platform made an add-on acquisition. Lima, Ohio-based CORA Health Services, a portfolio company of Gryphon Investors, announced its acquisition of Orthopedic and Sports Therapy Institute (OSTI) in Rockford, Illinois.
CORA has more than 100 clinics in Florida, Georgia, Michigan, North and South Carolina, Tennessee and Virginia.
OSTI offers a wide variety of services, including general physical therapy and specialty programs in balance and fall prevention, golf therapy, oncology rehabilitation, pain management and more. Its clinics are located in Rockford, Belvidere, Marengo, Ogle County, Poplar Grove and Sauk Valley.
Gryphon acquired CORA in June 2016. It made its first add-on deal that October, acquiring Carolina Physical Therapy Associates in Rocky Mount, North Carolina. Four deals were announced simultaneously in June 2017, and four more followed in March 2017.
CORA added two Tennessee-based physical therapy companies in October 2018. Financial terms were not disclosed for any of CORA’s deals.