Spine & Sport Physical Therapy, a portfolio company of Great Point Partners, has acquired Palm Springs, California-based Complete Care Physical Care Therapy, a physical therapy provider. No financial terms were disclosed.
GREENWICH, CT and SAN DIEGO, CA – Great Point Partners’ (“GPP”) portfolio company, Spine & Sport Physical Therapy (“Spine & Sport”), a leading provider of outpatient physical therapy and rehabilitation services in San Diego, CA, has acquired Complete Care Physical Therapy (“Complete Care”), a three (3) clinic Palm Springs, CA provider.
“We are excited to join with Complete Care to help expand our Palm Springs footprint,” said Mark Mathiesen, CEO of Spine & Sport. “Complete Care is one of the premiere physical therapy providers in Palm Springs with a proven track record of quality care and a strong relationship network.”
“Spine & Sport’s impressive reputation and outstanding service were key factors in our considerations for partnering with them,” said Janette Nelson, founder of Complete Care. “The partnership will benefit our patients, referral sources and employees.”
The addition is the first acquisition Spine & Sport has made since Great Point’s investment in December 2018. It is a clear indication of Spine & Sport’s ability to execute its strategic plan, expansion and successful growth. With the addition of Complete Care, Spine & Sport now operates 20 locations.
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 $1.4 billion of equity capital currently 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, $215 million of committed capital, and GPP III with a target of $250 million in committed capital) and public (BioMedical Value Fund strategy, approximately $900 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, outsourcing and alternate site care, pharmaceutical infrastructure and information technology enabled businesses. 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 Spine & Sport
Spine & Sport Physical Therapy (“Spine & Sport”), headquartered in San Diego, CA is a leading provider of physical therapy and rehabilitation services in the San Diego metropolitan area. Spine & Sport was founded in 1999 and is currently operated by three entrepreneurs with significant experience in the outpatient multi-site healthcare space. The Company operates 16 owned outpatient physical therapy clinics as well as managing five additional locations in Northern California. The Company’s outpatient clinics provide treatment to patients suffering from musculoskeletal impairments associated with accidents, sports injuries, surgeries, and various other medical conditions. Spine & Sport’s rehabilitation programs and services help patients minimize physical and cognitive impairments and maximize functional ability so that they can return to competition, the workplace and / or their normal lifestyle. Reach Spine & Sport at 800-976-7544 or www.spineandsport.com/