MemorialCare Health System and Physical Rehabilitation Network (PRN) announced a joint venture in 2020 to operate 17 community-based, full-service physical therapy centers, creating one of Orange County’s largest consolidations of comprehensive medical rehabilitation. And now the JV has struck an agreement to expand, together adding Complete Balance Solutions Institute for Physiotherapy, Inc. to their network.
Founded in 2006, Complete Balance Solutions is a premier destination for neurological, vestibular and balance injuries and disorders. The team collectively brings more than 25 years of experience specializing in treating individuals with dizziness, balance and movement disorders and complex non-healing ailments. The company is based in Laguna Hills, California with a clinic located in Irvine and Seal Beach.
Through the addition of Complete Balance Solutions’ three physical therapy clinics, the MemorialCare and PRN joint venture will have 26 clinics throughout Orange, Los Angeles and Riverside counties, with plans to open additional locations by December of 2021.
MemorialCare Health System is a leading nonprofit health system in Orange County, California with a network of four hospitals, two medical groups, imaging centers and surgical centers. PRN, a portfolio company of Gryphon Investors, is a physical therapy care provider and comprehensive practice management organization providing non-clinical, administrative support services to physical therapists across 14 states in the western and central portions of the United States.
PricewaterhouseCoopers LLP, FTI Consulting, and Bass, Berry & Sims PLC acted as advisors to PRN on the transaction. Mihama Acquisitions advised Complete Balance Solutions Institute for Physiotherapy.
