EmpowerMe Wellness, a St. Louis, Missouri-based provider of health services geared towards seniors, has announced that it acquired Salus Physical Therapy, a Tampa, Florida-based physical therapy provider. The acquisition went into effect on April 1, and the financial terms were not disclosed. This transaction is the 28th announced Rehabilitation deal of 2022, which is a healthy total considering that there were only 96 Rehabilitation transactions in all of 2021.
Founded in 2017, EmpowerMe Wellness describes itself as a tech-enabled, multiservice health care provider for senior living communities, providing integrated therapy, diagnostic, pharmacy and primary care services for their residents. It employs upwards of 1,100 people across the country, and in January of this year, it raised more than $100 million from local investors.
With the new financial backing, EmpowerMe adds Salus Physical Therapy’s existing footprint, which provides 45 senior living communities across Florida with outpatient physical therapy services, to its network. This brings EmpowerMe’s services to more than 450 facilities in 20 states. Salus’ current CEO, Nick Hughes and co-founder, Brad Andrews, will become part of EmpowerMe’s leadership team and co-owners of its Southeast operations.
Although the Rehabilitation sector had a busy first quarter, there has only been one other deal announced so far in April; Madden and Gilbert Physical Therapy, LLC was purchased by U.S. Physical Therapy for $15.7 million. Meanwhile, the largest disclosed price of the Rehabilitation sector of the year, to date, has been General Atlantic, a growth equity firm, acquiring PT Solutions, which provides physical therapy services through stand-alone outpatient clinics, hospitals, physician groups and other partners. The deal was for an announced purchase price of $1.2 billion. More information about this deal can be accessed here, on the LevinPro platform.
