By Luis de la Prida, MBA, CM&AA

Selling to a large group allows you to slowly transition your practice. It might give you the opportunity to partner with a more well-known brand. A bigger group may possess greater economies of scale that may produce better reimbursement and lower expenses. In addition, it could give you more access to more money, staff, and administration relief.

In our previous article in this series, we showed you how to prepare for selling your physical therapy center. Now, you need to know who could buy it.

Here’s a quick look at the four biggest buyers in the market:


Selling to a hospital might be appealing because the purchase offers financial stability, competitive compensation, and simplified branding options for your center. Hospitals are interested in physical therapy centers because it brings the hospital a new revenue stream.

Larger Groups

A larger group gives you, the owner, the flexibility of running your own center at a larger scale. If you sell to this group, you’ll get professional help with managing your practice (especially with accounting, billing, and collections). Examples of larger groups include: U.S. Physical Therapy Inc, ATI Physical Therapy, and Athletico Physical Therapy.

Private Equity/Financial Sponsors

Selling to a private equity/financial sponsor might be an attractive option because this kind of group can help with the financial management of your practice and help you achieve rapid growth. Since they tend to be larger, they offer better employee benefits, too. MOTION PT and Professional Physical Therapy are examples of major players in the market.

Multispecialty Groups or Small Groups of Physicians

For either of these options, the buyer tends to be less “corporate” than larger groups. In addition, they tend to be local. We’re seeing some orthopedic doctor groups make investments in outpatient practices, too. This buyer might be ideal for centers with a low profitability and a short business history.

Luis de la Prida, MBA, CM&AA, is a partner at New York Business Brokerage Inc, an M+A advisory firm that specializes in small to mid-market companies. For more information, contact [email protected].