Recent industry mergers and acquisitions in the news include those by Pharos Capital and Revelstoke Capital.
The first is an announcement by MOTION PT Group Inc, a portfolio company of Pharos Capital Group LLC, that it has acquired three New York-area physical therapy practices.
MOTION PT Group Inc provides physical therapy and occupational therapy services in the New York area. According to a media release from MOTION PT Group and Pharos Capital Group, the three acquisitions are: Dynamic Care Physical Therapy, located in Long Island, NY; Greco Physical Therapy and Sports Performance PLLC, with two locations on the North Shore of Long Island; and ProActive Physical & Hand Therapy, located in Bronx, NY.
Per the release, the three practices will become part of MOTION PT Group but will retain their individual brand identities. Their principal and employees will also join the Motion PT Group team.
“We are delighted to continue building one of the area’s premier physical therapy entities with the addition of these three high-quality companies and their management teams,” says Edward R. Miersch, president and CEO of MOTION PT Group, in the release.
“Each facility offers highly skilled therapists who provide an exceptional level of care, as well as unique specialties that address acute needs in their communities,” he adds.
In the second merger announcement, Denver-based Revelstoke Capital Partners LLC has completed its investment in Upstream Rehabilitation Inc—a provider of outpatient rehabilitation services, including freestanding physical therapy clinics, outpatient rehabilitation management services and a member network of rehabilitation service providers, according to a media release from Revelstoke.
Upstream Rehabilitation Inc owns or manages more than 300 clinics across 23 states, per the release.
“We are excited to partner with an extremely talented and experienced management team to grow Upstream and further solidify its position as a leader in outpatient rehabilitation services,” states Mark King, CEO, managing partner and co-founder of Revelstoke, in the release.
“Upstream has significant opportunity to drive growth through de novo expansion as well as acquisitions and has a strong reputation for clinical excellence and outcomes,” he continues.
[Source(s): Pharos Capital Group LLC, Revelstoke Capital Partners LLC, Business Wire]