Canadian healthcare private equity firm DW Healthcare Partners (DWHP) has sold Reliant Rehabilitation, a Plano, Texas-based provider of rehabilitative therapy services to patients in U.S. long-term care facilities.
No financial terms were released for the deal, which saw the company go to HIG Capital, a U.S. private equity firm.
DWHP has backed Reliant since 2011.
The transaction comes on the heels of another DWHP exit. In August, the firm sold PRIME Education, a Fort Lauderdale, Florida-based healthcare education and research company.
DW Healthcare Partners Announces Sale of Reliant Rehabilitation
PARK CITY, Utah, Sept. 13, 2018 /CNW/ — DW Healthcare Partners (“DWHP”), a healthcare-focused private equity firm, announced the sale of its portfolio company, Reliant Rehabilitation (“Reliant” or the “Company”), to H.I.G. Capital LLC. Headquartered in Plano, TX, Reliant is one of the leading providers of contract therapy services to post-acute facilities in the United States. Using proprietary clinical models, Reliant provides the highest levels of care with more than 30,000 patient encounters each day across more than 800 therapy sites.
Chris Bird, Chief Executive Officer of Reliant, commented, “Reliant has grown exceptionally well under DWHP’s stewardship. We look forward to the next phase in Reliant’s development as we continue to help our clients navigate the changes in post-acute markets while delivering best-in-class care for our patients.”
Doug Schillinger, Managing Director at DWHP added, “Since its founding, Reliant has consistently done well because of leadership’s unfettered commitment to the clinical staff and their absolute dedication to the patients they serve. We have every confidence they will continue to improve countless lives.”
Deutsche Bank served as financial advisor to DWHP on the transaction. Paul Hastings LLP served as DWHP’s legal counsel.
ABOUT DW HEALTHCARE PARTNERS
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $800 million in committed capital and invests in profitable healthcare companies with proven management teams.
DW Healthcare Partners is led by seasoned healthcare executives with more than 110 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-to-late-stage companies realize their potential for growth.
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