Advent International Acquires ATI Physical Therapy
Private equity continues to invest in rehabilitation companies. The latest deal, the fifth of five announced in March 2016, is from Advent International, a Boston-based firm with more than $30 billion invested in 310 companies. For an undisclosed price, the firm took a majority interest in ATI Physical Therapy, a portfolio company of KRG Capital. ATI specializes in outpatient rehabilitation and adjacent healthcare services. It operates more than 500 clinics in 19 states, and served nearly 300,000 unique patients in 2015. Read More »Leap Day Boosts February Deal Volume
It’s Leap Year, which means February was a day longer in 2016. This year, that extra day marked the announcement of seven healthcare transactions, which raised the month’s total to a healthy 113 deals. The services sectors were more active than usual, and accounted for 65% of the total. Usually, the services side makes up about 55% to 60%. Dollar volume was healthy, too, at $27.7 billion. But given the records set in 2015, February’s dollar total ended up 35% below the same month a year ago. The deals may be getting smaller, but they’re still being made. Read More »
Rehab Companies Still on the Prowl
M&A in the rehabilitation sector has been pretty slow this year. So slow, in fact, no deals were recorded in February. The first week in March, however, things picked up. U.S. Physical Therapy, Inc. (NYSE: USPH) announced it acquired a 55% stake in an unidentified physical therapy practice that operates through eight clinics. The stake cost $13.7 million, and the business generates approximately $9.0 million a year on roughly 65,000 patient visits. The second deal came from MOTION PT Group, Inc., a portfolio company of Pharos Capital Group, which is getting into physical and occupational therapy in a big way. MOTION PT was launched in 2015, and began buying up PT companies in the New... Read More »2015 Health Care M&A Beats All Records
It’s déjà vu all over again. 2014 was a record-breaker for health care M&A, with 1,317 transactions and spending at an astronomical $387 billion. Then 2015 came and went and, once again, we’re writing about a record-breaking number of transactions, 1,460 currently, and astronomical spending of $563 billion. Read More »
Select Medical Acquires Physiotherapy
Select Medical Holdings Corporation (NYSE: SEM) announced today it has entered into a merger agreement to acquire Physiotherapy Associates Holdings, Inc. for $400 million in cash. Physiotherapy is a national provider of outpatient physical rehabilitation care offering a wide range of services, such as general orthopedics, spinal care and neurological rehabilitation, and orthotics and prosthetics services. As of September 30, 2015, Select operated 110 long term acute care hospitals and 17 acute medical rehabilitation hospitals in 28 states, and 1,033 outpatient rehabilitation clinics in 31 states and the District of Columbia. This acquisition continues their growth. In 2015, Select formed a... Read More »Schedule a demo
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