Professional Physical Therapy, which is backed by Great Point Partners, has acquired New Jersey-based Sports Training Physical Therapy. No financial terms were disclosed.
GREENWICH, CT and UNIONDALE, NY – Great Point Partners (“GPP”) today announced that GPP I portfolio company Professional Physical Therapy (“ProPT”) has acquired Sports Training Physical Therapy. This acquisition adds nine new clinics in Millburn, Newark, Hazlet, Spring Lake, Newton, Haskell, Chatham, East Hanover, and Morristown and enables ProPT to give patients convenient access to a total of 31 locations throughout 8 counties in New Jersey.
According to Stephen Weaver, Vice President at Great Point, “The transaction is a clear demonstration of ProPT’s ability to execute on its strategic plan and is the ninth acquisition ProPT has closed in 2016 alone. ProPT now operates 98 outpatient physical therapy centers, up from 10 at the time of our investment in 2011, making it the largest provider in the Northeast.”
Maureen Wilhelm, Owner of Sports Training Physical Therapy, stated, “In partnering with Professional Physical Therapy, we’re confident that we’ve aligned ourselves with a company that shares that same commitment to patient care that has been the cornerstone of our practice. They are known for developing high quality programs and providing individualized care and attention to their patients and staff.”
Donald Demay, Partner and Chief Operating Officer at ProPT added, “The team from Sports Training Physical Therapy not only complements our expertise and values, but also enhances some of the more niche specialties, such as hand therapy and pediatric specialty programs tailored to children with orthopedic injuries.”
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $900 million of equity capital under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million and GPP II) and public (BioMedical Value Fund, approximately $500 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, services, outsourcing, pharmaceutical infrastructure and information technology. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Professional Physical Therapy
Professional Orthopedic and Sports Physical Therapy, headquartered in Uniondale, New York, is an award-winning, leading provider of physical therapy and rehabilitation services in the New York metropolitan area, New Jersey and Connecticut. Founded in 1998, Professional Physical Therapy now operates 98 outpatient physical therapy centers: 12 located within Equinox Fitness Centers, five located in Great Point Partners, LLC
Blink Fitness facilities, one located in a Golf Fitness Academy, one located in a STACK Sports Performance Center, and 78 standalone. The company’s outpatient physical therapy centers provide treatment to patients suffering from musculoskeletal impairments associated with orthopedic and sports injuries and other medical conditions. Additionally, Professional Physical Therapy operates a 20,000 square foot sports performance training facility in Garden City, New York. www.professionalpt.com