PE-backed Physical Rehabilitation Network buys 360 Physical Therapy

Physical Rehabilitation Network, which is backed by Gryphon Investors, has acquired 360 Physical Therapy, an operator of 19 outpatient clinics across Arizona and Oklahoma.

Physical Rehabilitation Network, which is backed by Gryphon Investors, has acquired 360 Physical Therapy, an operator of 19 outpatient clinics across Arizona and Oklahoma. No financial terms were disclosed.

PRESS RELEASE

CARLSBAD, Calif. (September 2, 2021) – Physical Rehabilitation Network (PRN), a leading physical therapy provider and practice management organization, today announced further expansion into Arizona and its entrance into Oklahoma with the acquisition of 360 Physical Therapy (360 PT), which operates 19 outpatient clinics across Arizona and Oklahoma. This acquisition elevates PRN’s nationwide clinic count to 182 across 16 states within the western and central portions of the U.S.

Under this new partnership, PRN will acquire 360 PT’s highly accredited outpatient physical rehabilitation clinics, which will continue offering leading pain resolution and recovery solutions through traditional land-based therapies, outcomes-led aquatic therapy and specialty programs such as vestibular rehabilitation, women’s health treatment, sports therapy and more.

“I am incredibly excited for our future with 360 PT. We plan to continue growing our Arizona footprint as well as extending our support to new markets across the U.S.,” said Ajay Gupta, CEO, PRN. “360 PT was established on a forward-thinking, team-driven and patient-centered culture, pillars that align nicely with PRN’s values and core purpose. Together, we believe this strategic partnership will allow for continued expansion of patient services as we grow locations and add staff expertise.”

Celebrating its 20th anniversary, Chandler, AZ-based 360 PT, which was founded by leading PT expert Tresha Baldwin, will continue building on its family-oriented foundation as it looks to extend market growth leveraged through PRN’s vast support network and resources.

“This is an exciting step in our growth and our mission to provide great patient care,” said Ms. Baldwin. “Over the past 20 years, 360 PT has been proud to serve the local communities across Arizona and Oklahoma, so it was important for us to align with a partner like PRN that brings a deep well of operational resources, strong clinical leadership and progressive vision – capabilities that will surely enable us to achieve even better care for generations to come across the communities we support.”

PRN is a portfolio company of Gryphon Investors, a San Francisco-based middle market private equity firm.

PricewaterhouseCoopers LLP., FTI Consulting and Bass, Berry & Sims PLC acted as advisors to PRN on the transaction.

To learn more about 360 PT’s multi-state network of physical therapy clinics or to schedule an appointment at one of their physical therapy locations, please call (480) 821-1997 or visit them online at 360physicaltherapy.com.

For more information on PRN locations or partnership opportunities, visit PRNpt.com. To stay up to date on the latest PRN news, follow us @PRNPhysicalTherapy on Facebook and on LinkedIn.

About Physical Rehabilitation Network
Founded in 1991, Physical Rehabilitation Network, LLC., (PRN) specializes in physical therapy physical therapy care, workplace ergonomics solutions and serves as a comprehensive practice management organization, providing non-clinical administrative support services to physical therapists across 16 states in the western and central portions of the U.S. PRN is known for its leading, value-driven practice management services and innovative, outcomes-driven physical therapy care model.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.