High Hopes for the Rehabilitation Market: Strong Tailwinds Push Deal Activity
Whenever we speak with dealmakers in the healthcare M&A market, they frequently discuss how the market is fragmented. Although there is no shortage of major players, especially as retail and tech giants push deeper into healthcare, there’s still a high volume of smaller, independently owned agencies and providers. The U.S. outpatient rehabilitation market has more than 37,000 independent clinics, and no company owns more than 10% market share. Some significant players include Select Medical (1,933 clinics), ATI Physical Therapy (900 clinics) and U.S. Physical Therapy, Inc. (629 clinics). Additionally, rehabilitation services are split across many sources: hospitals, therapy clinics,... Read More »
U.S. Physical Therapy’s Q3 2022 Earnings Highlights
U.S. Physical Therapy, Inc (USPT) announced its financial results for the third quarter ended September 30, 2022. Earnings, adjusted for non-recurring gains, came to $0.58 per share, beating the Zacks Consensus Estimate of $0.55 per share. Despite the impact labor and inflation-related headwinds had on some financial metrics (net income and adjusted EBITDA), USPT still managed to report strong revenues and improved performance indicators, such as patient visits. USPT also remained active throughout the quarter with several acquisitions announced and completed. The Houston, Texas-based company reported: 10.9% increase in total revenue from $125.9 million in Q3:21 to $139.6 million in... Read More »
ActivePro Rehab Partners Expands In New Jersey
ActivePro Rehab Partners, a portfolio company of The Beekman Group, announced on November 1 that it acquired Rehab Excellence Center. Founded in 2001, Rehab Excellence Center is a leading provider of physical therapy services throughout southern New Jersey that, pre- acquisition, operated six locations. ActivePro Rehab Partners manages rehabilitation clinics. More than 40 years ago, it was formed to accelerate clinic growth in New Jersey and beyond. The addition of Rehab Excellence expands ActivePro’s coverage across the state with 48 locations in 16 New Jersey counties. Rehab Excellence, in turn, will operate 12 locations. Terms of the acquisition were not disclosed.... Read More »
Medrina Purchases Radial Health
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,... Read More »
STAC Physical Therapy Acquires North Santa Rosa Physical Therapy
Manhattan Beach, California-based STAC Physical Therapy acquired Santa Rosa, California-based North Santa Rosa Physical Therapy. The terms of the deal were not disclosed. Founded in 2018, STAC Physical Therapy is a physical therapy provider and practice management organization. The acquisition marks STAC’s first entry into Sonoma County, California. North Santa Rosa Physical Therapy provides traditional and highly specialized physical therapy services for orthopedic problems, work-related injuries, temporomandibular disorders and various neuromuscular and neurological conditions. According to the LevinPro HC database, the transaction marks the 70th Rehabilitation deal of the year.... Read More »Schedule a demo
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