Physiotherapy Corporation, headquartered in Exton, Pa, announces in a media release that it has acquired Milwaukee-based Therapy Plus, a seven-facility physical and occupational therapy provider.
The release notes that this acquisition is in addition to Physiotherapy Corp’s recent integration with the Anderson Orthopedic Clinics in Northern Virginia and a joint venture with Central Iowa Healthcare in Marshalltown, Iowa.
“The addition of these facilities advances our strategic plan to grow Physio through acquisitions, de novos, and joint ventures,” says Michael Piekutowski MPT, vice president of business development, in the release.
This recent activity grows Physiotherapy Corp’s total number of facilities to 559 in 29 states, enabled by its recent restructuring, a commitment to growth, and the implementation of a new and cohesive brand, the release explains.
“A recent debt restructuring through GE Capital’s Healthcare Financial Services (HFS) provided Physio with $175 million in senior secured credit facilities, lowered our borrowing costs, and enabled us to invest in these growth opportunities,” says Hank Balavender PT, CEO in the release.
For more information, contact Physiotherapy Corporation.
[Source(s): Physiotherapy Corporation, PR Newswire]