Medrina, backed by Webster Equity Partners, announced on October 26 that it acquired Chicago-based Radial Health.
Medrina was represented by Goodwin Procter LLP and CohnReznick LLP. Reed Smith LLP acted as healthcare regulatory counsel.
Formally known as Integrated Rehab Consultants, Medrina has been providing physiatry services since 2010. Medrina partners with skilled nursing facilities (SNFs) and has since become one of the largest groups of physiatrists in the country, focusing on SNFs and expanding in the inpatient hospital setting.
Founded in 1996 by Dr. Lynn Mershon, Radial Health is a medical group located primarily in Illinois and Florida, specializing in rehabilitation, interventional pain and physiatry. In 2019, the group was recapitalized by Twelve Six Capital. Radial currently partners with more than 80 facilities.
This transaction marks Medrina’s fourth acquisition in the last 12 months. The financial terms of the transaction were not disclosed.
According to data from the LevinPro HC database, this acquisition marks the 71st Rehabilitation transaction of the year. This compares to 72 Rehabilitation deals recorded between January 1, 2021, and October 26, 2022. The deal with the largest disclosed price (which is rather uncommon in the sector) is Patient Square Capital’s acquisition of Hanger, Inc. for $1.25 billion in July.
