PE-backed CORA buys Spine & Sport

CORA Health Services, a portfolio company of Gryphon Investors, has acquired Georgia-based Spine & Sport Physical Therapy. No financial terms were disclosed.


San Francisco, CA – June 26, 2017 – CORA Health Services, Inc. (“CORA”), a top 10 national operator of outpatient physical therapy services, announced today that it has expanded into Georgia with the acquisition of Spine & Sport Physical Therapy (“Spine & Sport” or “the Company”). CORA is a portfolio company of Gryphon Investors (“Gryphon”), a leading middle-market private equity firm based in San Francisco. Terms of the transaction were not disclosed.

Spine & Sport ( was founded in 2004 by Dr. Jacques L. Beauchamp and Dr. Eric C. Bull. With the most board certified clinicians in the region, the Company specializes in the advanced practice of physical therapy, with an emphasis on manual therapy techniques and auto injury treatment. Spine & Sport has six locations in the Savannah area and offers House Calls, a concierge physical therapy service provided in the home, throughout southeast Georgia.

CORA also announced the recent acquisition of four additional companies:
· Capstone Physical Therapy, a single location in Raleigh/Durham, NC
· Solex Physical Therapy, two locations in Naples, FL
· Melissa Brown Physical Therapy, a single clinic in downtown Orlando, FL
· Robert Volski and Associates Physical Therapy, in Ft. Meyers, FL

With these acquisitions, CORA now has more than 125 clinic locations in four states.
Dennis Smith, CORA’s CEO, stated, “We are always looking to broaden our capabilities by acquiring excellent clinics and clinic groups that expand our geographic reach and add depth to our existing service lines. We are delighted to welcome our new companies, all of which will help CORA carry out its goal of delivering personalized care with respect and consideration for our patients’ needs.”

About CORA
CORA Health Services, Inc. ( is an outpatient rehabilitation company that uses proven clinical practices and cost effective treatment protocols to return patients to their jobs and lifestyles as soon as possible. Their clinics offer a complete range of treatment, including outpatient physical therapy and general rehabilitation, worker’s compensation therapy, sports and auto injury rehabilitation, and rehabilitation for seniors. CORA operates more than 125 clinics in Florida, Georgia, North Carolina and South Carolina.

About Gryphon Investors
Based in San Francisco, Gryphon Investors ( is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. For four consecutive years, Gryphon has been ranked in Preqin’s prestigious quarterly PE report as one of North America’s top-decile firms based on consistency of strong investment returns. Managing over $2.5bn of equity investments and capital since 1997, the firm has an extensive track record of leading equity investments of $50 million to $150 million per portfolio company with sales ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.