Ivy Rehab, a portfolio company of middle-market private equity firm Waud Capital Partners, announced that it has partnered with Advance Orthopedic and Sports Therapy (AOST).
AOST is physical therapy practice serving Tewksbury, Massachusetts. The practice offers a wide range of services, including pelvic health, orthopedic rehabilitation, spine care and sports injury recovery.
Founded in 2003, Ivy Rehab is a network of outpatient physical, occupational and speech therapy and applied behavior analysis clinics throughout the United States.
Through the partnership, AOST will continue to serve the community with the same local care and philosophy, while gaining access to Ivy Rehab’s broader clinical programs and network-wide support. Financial terms of the deal were not disclosed.
According to data in the LevinPro HC database, this transaction represents the fifth Rehabilitation transaction of 2026. Other acquirers in the space this year include Sila Realty Trust, TopzorgGroep, Intune Physical Therapy and U.S. Physical Therapy. There were 48 Rehabilitation acquisitions announced in 2025, and 47 announced in 2024. Ivy Rehab announced five acquisitions in 2025.
