Professional Physical Therapy, which is backed by Great Point Partners, has acquired New Jersey-based Achieve Sports Medicine & Rehab and PRO 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 Achieve Sports Medicine & Rehab and PRO Physical Therapy. These two acquisitions add three new clinics in Waldwick, Wyckoff and Randolph, New Jersey, and now give patients access to 21 physical therapy locations throughout six counties in New Jersey.
According to Rohan Saikia, Principal at Great Point, “The transactions with Achieve Sports Medicine & Rehab and PRO Physical Therapy are the sixth and seventh tuck-in acquisitions ProPT has closed in just the first seven months of 2016 alone. ProPT now operates 88 outpatient physical therapy centers, making it the largest provider in the Northeast. Jeff De Bellis, Partner and Vice President of Clinical Operations at ProPT stated, “The strategic additions of Achieve Sports Medicine & Rehab and PRO Physical Therapy to Professional affirm our strategy of creating strong partnerships with highly respected regional practices and renowned practitioners.”
Jodi DeVincentis, President of PRO Physical Therapy agrees, “We have implemented some unique and cutting-edge programs at PRO Physical Therapy, however, our reach was limited. Professional Physical Therapy’s superb reputation in the industry, expert clinical education program, and myriad of opportunities for professional advancement made this the best choice for Pro Physical Therapy and our clinicians. ”
Richard Sica, co-founder of Achieve Sports Medicine & Rehab states, “I am confident that with the combined expertise of our physical, occupational and hand therapists, we will successfully continue to help our patients achieve the highest level of function and independence possible.”
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 (BMVF, approximately $475 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 infrastructure, devices and diagnostics, services, outsourcing, 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.
Great Point Partners, LLC
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 88 outpatient physical therapy centers: 12 located within Equinox Fitness Centers, five located in Blink Fitness facilities, one located in a Golf Fitness Academy, one located in a STACK Sports Performance Center, and 69 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