ATI Physical Therapy Goes Public
The healthcare M&A market has been dominated by a surge of SPAC deals, or private companies going public through reverse mergers with a special purpose acquisition company. The deals have usually been in the eHealth and Biotechnology sectors, but now a giant in the Rehabilitation sector is getting in the action. ATI Physical Therapy, the largest single-branded outpatient physical therapy provider in the United States, is merging with Fortress Value Acquisition Corp. II in a $2.5 billion deal. ATI owns and operates nearly 900 physical therapy clinics across 25 states. The company generated approximately $178.6 million in adjusted EBITDA for 2020. ATI Physical Therapy was a portfolio... Read More »
NeuPath Health Makes Moves to Expand
The Canadian-based NeuPath Health Inc. (TSXV:NPTH) is entering the healthcare M&A market with its deal for HealthPointe Medical Centres Ltd. NeuPath is Canada’s largest provider of chronic pain management services that operates under two leading brands in Ontario: Centres for Pain Management and InMedic Creative Medicine. NeuPath has 12 locations across Ontario with more than 100 licensed healthcare providers that provide care to over 11,000 patients annually. Under the terms of the agreement, NeuPath will acquire 100% of HealthPointe for CAD 3.2 million upfront cash (U.S. $4.05 million) and up to CAD 1.5 million in potential milestones based on the achievement of certain financial... Read More »
Physical Rehabilitation Network Expands in California
It’s been a quiet year for the rehabilitation sector in terms of healthcare M&A, most likely due to the social distancing safety measures implemented because of COVID-19 and the new reimbursement model put in place on October 1, 2019. But last week, Physical Rehabilitation Network, LLC announced a new transaction in California. PRN, a portfolio company of Silver Oak Services Partners, added Morgan Hill Physical Therapy, Inc., a Northern California-based outpatient rehabilitative care group that provides physical and occupational therapy, functional integrative therapy, work injury rehabilitation and sports medicine and complimentary injury consultations. With the addition of Morgan... Read More »
Omada Health Adds Physera
Omada Health, a digital health coaching company based in San Francisco, didn’t have to go far to find a perfect target. On May 19, the company announced its acquisition of Physera, Inc., a digital physical therapy provider also based in San Francisco. In conjunction with the acquisition, Omada raised an additional round of growth capital from Perceptive Advisors, a life sciences investment firm, to finance the deal and support future growth. CNN reported that $37 million of that investment went to the Physera acquisition. Physera is a musculoskeletal care company that delivers physical therapy and interventions digitally and via telehealth visits to achieve clinical outcomes and... Read More »
Sanders Trust Buys Cobalt Rehab Hospital
Curahealth, a portfolio company of Nautic Partners, is selling the real estate assets of a rehabilitation hospital in New Orleans operated by its subsidiary, Cobalt Rehabilitation. Birmingham, Alabama-based The Sanders Trust will pay $29 million for the 60-bed inpatient rehab facility. The Cobalt Rehabilitation Hospital is a Class A, 65,345-square-foot facility located less than two miles from the new Louisiana State University and Veteran Administration hospitals that have approximately 1,000 acute care beds. Built in 2016, it serves a wide range of physical rehabilitation patients with conditions such as stroke, trauma, hip fracture, brain injuries, concussions, orthopedic and... Read More »Schedule a demo
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