Alliance Physical Therapy Partners, which is backed by GPB Capital, has acquired a majority stake in SOL Physical Therapy + Performance Training, an operator of outpatient physical therapy clinics in the Oakland, California area. No financial terms were disclosed.
NEW YORK, Dec. 19, 2017 /PRNewswire/ — Alliance Physical Therapy Partners (“Alliance PT”), an affiliate of GPB Capital, has acquired a majority equity stake in SOL Physical Therapy + Performance Training (“SOL PT”), which operates three outpatient physical therapy clinics in the Oakland, Calif., area.
“Our operating partners at SOL Physical Therapy + Performance Training are strongly committed to helping active individuals in Oakland and throughout the San Francisco Bay Area return to their desired level of mobility and fitness,” said Mark Andrzejewski, CEO of Alliance Physical Therapy Partners. “We will provide the capital, resources, and support that they need to offer high-quality rehabilitation and athletic training to many more patients over the long term.”
Founded in 1997, SOL Physical Therapy + Performance Training (http://www.solpt.com) has a well-staffed physical therapy group with 28 employees, including 10 physical therapy providers and 11 trainers/aides. The company’s three outpatient clinics offer a variety of physical therapy, performance training, fitness, and wellness care, including pain reduction/elimination, one-on-one and small-group training, restorative services, massage therapy, and prevention education.
Alliance PT was built on the idea that physical therapy practice owners who band together are in a stronger position to succeed than those who go it alone. The firm works closely with independent physical therapy practices to optimize their business operations, improve key performance indicators, and facilitate scalable growth which benefits more patients. As part of the firm’s strategy, the Alliance PT team helps portfolio companies streamline processes related to managed payroll, workers’ compensation, benefits, and recruitment, giving the practice managers more time to focus on growth and patient care. Alliance PT also works with operating partners to obtain more favorable terms during negotiations with insurance companies over large-scale reimbursement. Alliance PT’s team of professionals has accumulated a wide range of experience building and running physical therapy practices, and can offer guidance on many aspects of practice operations, including acquisitions, compliance, direct-to-consumer marketing, human resources, recruitment, strategic growth, and technology.
“Declining insurance reimbursement and increased competition have created an extremely challenging environment for independent physical therapy practices to succeed,” said Dotty Bollinger, Managing Partner with GPB Capital responsible for the firm’s Healthcare Strategy.
“Alliance Physical Therapy Partners provides a network of support which enables portfolio companies to become more profitable using proven best practices—while also continuing to deliver the excellent standard of care their patients have come to expect, and maintaining their brand identity. We are proud to offer this unique opportunity for independent physical therapy practices across the country to grow and enhance their businesses.”
About Alliance Physical Therapy Partners
Alliance Physical Therapy Partners is an affiliate of GPB Capital Holdings, LLC focused on acquiring private physical therapy practices across the U.S. to provide practice owners the opportunity to expand their footprint while receiving operational guidance and financial support. The Alliance Physical Therapy team includes former private practice owners, direct marketing professionals, and operations experts who have experience running and growing successful healthcare organizations.
For more information, visit www.allianceptp.com.
About GPB Capital Holdings, LLC
GPB Capital is a New York-based alternative asset management firm focusing on acquiring income-producing private companies. GPB Capital provides their portfolio companies with the strategic planning, managerial insight, and capital needed to enable strong businesses to achieve the next level of growth and profitability. GPB Capital has over $1.35 billion in assets under managementi and has acquired or invested in more than 100 portfolio companies. For more information, please visit www.gpb-cap.com.