Revelstoke’s Upstream Rehabilitation Announces New CEO

Newly appointed CEO Ron Kuerbitz was the founding CEO of agilon health and former CEO of Fresenius Medical Care North America.

Upstream Rehabilitation, a portfolio company of Revelstoke Capital Partners, announced today that Ron Kuerbitz has joined the company as CEO. Company founder David Van Name will remain a member of the board of directors and transition to senior advisor. Upstream is the third largest provider of outpatient physical rehabilitation in the country.

PRESS RELEASE

BIRMINGHAM, AL – Upstream Rehabilitation Inc. (“Upstream” or “the Company”), a leading provider of outpatient rehabilitation services and a portfolio company of Revelstoke Capital Partners, announced today that Ron Kuerbitz has joined the company as Chief Executive Officer. Upstream founder David Van Name will continue to serve as a member of Upstream’s Board of Directors and transition to Senior Advisor, supporting Mr. Kuerbitz and the Upstream team as they continue their mission of providing exceptional patient care.

“I am pleased to welcome Ron to the Upstream management team. He joins Upstream at an exciting time, with the opportunity to build upon our strong operating model and lead the Company into new avenues for growth,” said Mr. Van Name. “I am convinced that his commitment to ensuring quality patient care and empowering our clinicians with personal and professional opportunities will further our position in this very important sector of healthcare, as we continue to execute upon our growth strategy.”

Mr. Kuerbitz was the founding CEO of agilon health and led the development of the company from its inception. agilon’s operating models, technology, solutions, capital and team provide the resources needed by physician practices to make the leap from fee-for-service to integrated payment and delivery, even in markets that have no experience with provider-risk contracting and operations. Under Mr. Kuerbitz’s leadership, agilon’s revenues grew eight-fold as operations expanded to partnering with 1,200 physicians serving 150,000 patients. Prior to joining agilon health, Mr. Kuerbitz was the CEO of Fresenius Medical Care North America, the leading provider of products, pharmaceuticals and services to the renal community. In that capacity, he led Fresenius’ growth from $9 billion to $13 billion in revenue and its strategic shift from fee-for-service dialysis care to population health management for the renal disease population.

“I am thrilled to become part of Upstream, a premier organization with a solid foundation and strong growth,” said Mr. Kuerbitz. “The Company has an amazing culture of clinical care and community support, enabling clinicians to lead with purpose-driven passion. It will be my pleasure to work with Dave to further the broad array of services provided by Upstream, expand the geographic footprint, and strengthen our clinical focus as Upstream continues to scale.”

“We would like to thank Dave for all his contributions to Upstream’s success over the last 17 years. We look forward to working with him at the board-level as we continue to drive the strategic direction of Upstream. We believe Ron’s experience leading multi-site, provider-based healthcare organizations will be a critical element in ensuring that Upstream continues its significant growth trajectory, and we are excited to work with him to expand patients’ access to rehabilitation services, ensuring they get the quality health care they need and deserve,” said Simon Bachleda, Chairman of Upstream’s Board of Directors and co-founder and Managing Partner at Revelstoke Capital Partners.

About Upstream Rehabilitation Inc.

Upstream is the third largest provider of outpatient physical therapy services in the United States. Upstream owns and operates over 760 clinics through a network of strong regional brands including the following: BenchMark Physical Therapy, Drayer Physical Therapy Institute, Peak Physical Therapy, SERC Physical Therapy, Integrity Rehab Group, and more. The company provides a comprehensive suite of outpatient and specialized physical therapy services and sees over four million patient visits annually. Upstream is headquartered in Birmingham, Alabama.

About Revelstoke Capital Partners

Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $2.3 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 76 acquisitions, which includes 18 platform companies and 58 add-on acquisitions.