According to a company news release, Athletico Physical Therapy recently forged a definitive agreement to acquire Accelerated Rehabilitation Centers. The transaction is intended to create one of the largest physical therapy providers in the Midwest, the release says. Once the transaction closes, the combined businesses will serve patients at a total of 336 locations in eight states.

Mark Kaufman, Athletico founder and CEO, articulates the company’s excitement in combining forces with Accelerated Rehabilitation Centers. “We will now be able to provide more support and resources for our employees, reach more patients across a larger geographic footprint, and offer a wider variety of clinical services. We also will be able to strengthen our collaborations with physicians, payors, affiliates, business partners, vendors, and the communities we serve,” Kaufman states in the release.

Eric Warner, CEO, Accelerated, adds that the two companies share common values and a patient-centric approach to physical therapy.

“These common values are why this partnership makes sense,” Warner notes. “We also bring some distinctive services and approaches to the industry that will complement each other’s strengths and allow us to expand what we can collectively offer to patients.”

The release reports that the transaction includes Accelerated and all its brands, including ProRehab and Newsome Physical Therapy. Kaufman will lead the combined company, which is slated to maintain its headquarters in Oak Brook, Ill. The closing of the transaction is conditioned upon clearance of customary closing conditions.

The release adds that Athletico expects the sale to close in the fourth calendar quarter of 2014.

[Source(s): Athletico, Accelerated Rehabilitation Centers]