Audax-backed PHOENIX buys CACC

PHOENIX Rehabilitation, which is backed by Audax Private Equity, has acquired Aurora, Colorada-based Colorado Athletic Conditioning Clinic, a provider of outpatient physical therapy services.

PHOENIX Rehabilitation, which is backed by Audax Private Equity, has acquired Aurora, Colorada-based Colorado Athletic Conditioning Clinic, a provider of outpatient physical therapy services. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, PHOENIX Rehabilitation, acquires Colorado Athletic Conditioning Clinic

The Company
Colorado Athletic Conditioning Clinic (“CACC”), headquartered in Aurora, CO, is a leading provider of outpatient physical therapy services with four locations throughout the Denver metropolitan area.

The Deal
Audax Private Equity (“Audax”) and PHOENIX Rehabilitation & Health Services (“PHOENIX”) have signed a definitive agreement to acquire CACC. This transaction represents PHOENIX’s fourth acquisition since Audax’ initial investment in December, 2018.

The Thesis
In December 2018, Audax partnered with PHOENIX, a leading provider of outpatient physical therapy. The CACC acquisition expands PHOENIX’ footprint into the western United States and exemplifies PHOENIX’ strategy of partnering with regional leaders (“KEY PTs”) to pursue significant identified growth opportunities through both de novos and add-on acquisitions. PHOENIX plans to work with CACC’s management team to build on CACC’s leading position in Colorado, accelerate growth, and continue the company’s focus on patient outcomes and therapist satisfaction.