On December 29, Physical Rehabilitation Network, LLC (PRN) announced the acquisition of Bonney Lake Physical Therapy & Hand Rehab, PLLC (Bonney Lake PT), continuing its expansion in the state of Washington. The Bonney Lake practice will elevate PRN’s Washington footprint to 22 clinics.
Founded in 1991 and headquartered in Carlsbad, California, PRN is a leading physical therapy care provider and comprehensive practice management organization providing non-clinical, administrative support services to physical therapists across 16 states in the western and central portions of the United States. PRN is a portfolio company of Gryphon Investors, a leading middle-market private equity firm based in San Francisco, California.
“We are thrilled to continue growing our support in the greater Seattle area by welcoming the team at Bonney Lake into the PRN family,” said Ajay Gupta, CEO of PRN. “Michael and Brandy are incredibly experienced physical and hand therapists. We are excited to build off of their established practice and patient relationships by supporting them with additional resources and expertise. Together, we will continue their mission of providing affordable patient care to Bonney Lake and the surrounding communities.”
Under this new partnership, Physical Rehabilitation Network will acquire Bonney Lake PT’s outpatient therapy clinic location on State Route 410 East. The Bonney Lake team collectively brings nearly 15 years’ experience specializing in hand therapy and general outpatient physical therapy services and treatments.
PRN’s advisors on the transaction were PricewaterhouseCoopers LLP., Bass, Berry & Sims, PLC and Mihama Acquisitions.
