Private equity firm Gryphon Investors announces that it has acquired CORA Health Services Inc, a physical therapy operator with more than 100 practice locations in Florida, Michigan, and South Carolina.

“Physical therapy is a $33 billion industry that remains highly fragmented and rife with opportunities for the right platform. We believe CORA, with its scalable infrastructure, full service clinics, and highly diversified payor mix, is poised to expand further through both de novo growth and accretive add-on acquisitions,” says Luke Schroeder, a Principal in Gryphon’s Healthcare Group, in a media release from the San Francisco-based firm.

“Partnering with a well-respected investment firm known for supporting management will give us the resources and capital to rapidly execute on CORA’s growth strategy,” states CORA Health Services Inc DEO Dennis Smith, in the release.

[Source(s): Gryphon Investors, Business Wire]