Pharos-backed MOTION PT acquires Community Physical Therapy

MOTION PT Group Inc, a New York-based provider of physical and occupational therapy services, acquired Community Physical Therapy, a family-owned physical therapy provider with three locations in New York City. MOTION PT, formed in 2015, is a portfolio company of Pharos Capital Group LLC. Terms of the transaction were not disclosed.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–MOTION PT Group, Inc. (“MOTION”), a leading provider of physical therapy and occupational therapy services in New York, announced today it has acquired Community Physical Therapy (“CPT”). MOTION, formed in June 2015, is a portfolio company of Pharos Capital Group, LLC (“Pharos”). Terms of the transaction were not disclosed.

Family owned and operated since 1981, Community Physical Therapy offers one on one physical therapy out of three locations: Queens, Manhattan and Brooklyn. Its mission is to help people overcome pain and disability through clinical expertise and personal attention from licensed, experienced, and highly skilled physical therapists.

Dr. Roslyn Sofer, PT, DPT, OCS, founder of CPT, and her son Dr. David Sofer, PT, DPT, President/Manager of CPT’s Brooklyn Office, will continue in their leadership roles and the CPT staff will join MOTION PT Group as well. In addition to her individual responsibilities at her clinic, Roslyn Sofer is an Assistant Professor at Touro College and at SUNY Downstate Physical Therapy programs. David Sofer is an Adjunct Assistant Professor at SUNY Downstate Physical Therapy program and is the current Chair of the Advisory Panel on Payment for the New York Physical Therapy Association. He served on the Board of Directors for the NYPTA from 2010 through 2014.

Edward R. Miersch, President and CEO of MOTION, said, “Both Roslyn and David have an extremely loyal patient base and a well-deserved reputation for providing innovative, customized care. Their close relationships with the medical community result in regular referrals from New York’s top physicians in sports medicine, orthopedics, neurology and physiatry. They are a potent force in higher education and their involvement in local, state, and national issues in physical therapy reinforces their passion for our industry. They will add significantly to MOTION’s capabilities as we continue to build the premier physical therapy network in the New York area, and we are delighted to welcome them.”

Dr. David Sofer added, “CPT was founded on the idea that our patients deserve close personal attention. We are proud of that tradition and pleased to be joining a practice that shares our vision of personalized service and that will support our growth. We look forward to working with Ed and the entire MOTION team.”

Anyone interested in business development opportunities involving MOTION should contact Adam Persiani of Pharos Capital at apersiani@pharosfunds.com.

About Community Physical Therapy

Family owned and operated since 1981, Community Physical Therapy (http://www.cptclinic.com/about-new-york-physical-therapy/) offers one on one physical therapy out of three locations, in Queens, Manhattan and Brooklyn. Its mission is to help people overcome pain and disability through clinical expertise and personal attention from licensed, experienced, and highly skilled physical therapists. The company treats conditions including cervical and lumbar pain, post-operative conditions, osteoarthritis, rheumatoid arthritis, balance disorders, gait disorders, general weakness and deconditioning, postural dysfunctions, sports injuries, chronic pain and fibromyalgia.

About MOTION PT Group

MOTION PT Group (www.motionptg.com) was formed in June 2015 through the combination of Brooklyn-based MetroSportsMed with Manhattan-based STAR Physical Therapy. Today, MOTION has over 250 employees. Headquartered in New York City with 18 locations, the company is a leading provider of comprehensive physical and occupational therapy services with locations in the New York Metropolitan Area.

About Pharos Capital Group

Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is an SEC Registered Investment Advisor. Since inception, Pharos has invested in 46 companies and manages approximately $800 million in private equity investments. Pharos typically invests $25-$50 million in rapidly growing middle market companies seeking later stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations across industry sectors, with particular focus on healthcare and business services.