Spine & Sport Physical Therapy, a portfolio company of Great Point Partners, has acquired Performance Therapy Center, a California-based provider of physical therapy services. No financial terms were disclosed.
GREENWICH, CONN. AND SAN DIEGO (PRWEB) MARCH 10, 2021
Great Point Partners’ (“GPP”) portfolio company, Spine & Sport Physical Therapy (“Spine & Sport”), a leading provider of outpatient physical therapy and rehabilitation services in Southern California, has acquired Performance Therapy Center (“Performance”). Performance operates in Ventura County, CA with three locations.
“We are excited to bring the Performance Therapy team onboard and to expand our footprint to Ventura County,” said Rick Katz, Vice President of Business Development. “Performance has been in business for more than two decades and has developed a strong reputation in the community through their proven track record of providing the highest quality physical therapy. We welcome their leadership as part of our continued growth strategy in California.”
“We are thrilled to join the Spine & Sport family. The similar culture and mission of Spine & Sport to our own made this an easy decision. We are especially excited about being able to work together with Rick Katz who joined Spine & Sport last year as its Vice President of Business Development. We have known Rick for decades and greatly admire his professionalism and dedication to the PT profession. It’s an honor to partner with Rick and together we look forward to pursuing more acquisition and expansion opportunities in California together,” said Brian McMahon and Jim Magnusson, founders of Performance Therapy Center.
The addition is the fourth acquisition Spine & Sport has made since Great Point’s investment in December 2018.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.3 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 III, which has $307 million of committed capital. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III, $307 million) and public equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.
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 Southern California. The Company operates 24 owned outpatient physical therapy clinics as well as managing 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 http://www.spineandsport.com/