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The MENTOR Network Expands in Texas
Private equity-backed The MENTOR Network is widening its footprint in Texas. The company is adding Sage Care Therapy Services, which currently serves 900 young people across North Texas. Its pediatric therapy offerings include physical therapy, occupational therapy, speech therapy and feeding therapy customized to each patient’s unique needs. Sage Care Therapy employs a multidisciplinary team, including bilingual therapists and translators, allowing the company to better meet the needs of the diverse community in Dallas, where the company is headquartered. This deal expands MENTOR’s offerings to include home-based delivery of pediatric therapies for children up to 21 years old in North... Read More »The State of the Rehabilitation M&A Market
Throughout 2020, there wasn’t much to write about in the Rehabilitation sector. The industry was under regulatory pressure from CMS in the beginning of 2020, and then Covid-19 came around, making things even more difficult. Social distancing guidelines hindered in-person appointments, and we imagine that the effects of surgery cancellations at hospitals trickled down into this sector as well. U.S. Physical Therapy, Inc. (NYSE: USPH), one of the largest rehabilitation providers, saw a 13.8% drop in net patient revenue in 2020 compared with 2019, for instance. However, It was more difficult to discern the effects in the M&A market. The sector barely breaks double-digit deal volume on a... Read More »
Kindred Healthcare Adds Two Rehab Hospitals
The healthcare services giant Kindred Healthcare, LLC is back in the M&A market. Much of the company’s activity has focused on partnerships and new development projects, but now Kindred is adding two rehabilitation hospitals with two separate joint ventures. The first deal was announced in partnership with Texas Health Resources, a faith-based, not-for-profit health system. The two companies have jointly taken control of Everest Rehabilitation Hospital of Keller, a 36-bed rehabilitation hospital located in the northern suburbs of Fort Worth, Texas that just opened in December 2020. The hospital will be renamed Texas Rehabilitation Hospital of... Read More »
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 »Schedule a demo
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