Upstream Rehabilitation announces it has completed the acquisition of Results Physiotherapy, expanding Upstream’s portfolio to more than 1,000 owned and managed clinics across 28 states.
Headquartered in Nashville, Tenn, Results Physiotherapy encompasses more than 200 clinics in nine states.
Birmingham, Alabama-based Upstream Rehabilitation, a portfolio company of Revelstoke Capital Partners, employs approximately 3,500 providers who perform over 5 million patient visits annually, a media release from Upstream Rehabilitation estimates.
“I am pleased to welcome the Results team to Upstream. Combining the capabilities of Upstream and Results will allow us to improve access to patient-centric care delivered by an engaged team of therapist partners and associates who share a passion for life-long learning and a commitment to their communities.”
— Ron Kuerbitz, Chief Executive Officer of Upstream Rehabilitation
“We are excited to join the Upstream platform. This partnership is a natural fit due to our similar clinical and operational models, as well as a clear alignment of values and culture. By joining Upstream, we can continue our mission with a partner who brings unique strengths and capabilities.”
— Michael Martin, CEO of Results Physiotherapy
“In addition to Upstream’s market-leading same-store sales and de novo growth, add-on acquisitions are a critical element of Upstream’s significant growth trajectory. The acquisition of Results accelerates Upstream’s mission of expanding access to physical rehabilitation services and providing patients the quality care they deserve.”
— Simon Bachleda, Chairman of Upstream’s Board of Directors and Co-Founder and Managing Partner at Revelstoke Capital Partners
The Results acquisition is reportedly Upstream’s largest acquisition to date, and adds even greater scale, network density and capabilities to the Upstream platform, all of which position Upstream’s patients and stakeholders to continue benefiting from the shift to low-cost care settings and value-based care models, the release notes.
[Source(s): Upstream Rehabilitation, PR Newswire]
