February 28, 2014
GREENWICH, CT and UNIONDALE, NY — Professional Orthopedic and Sports Physical Therapy (“Professional”), a Great Point Partners I, L.P. (“GPP”) portfolio company has acquired Gold Coast Physical Therapy & Sports Training (“GCPT”) with four state-of-the-art clinics in Suffolk County. This marks Professional’s fourth tuck-in acquisition since GPP’s investment in October 2011.
“We’re thrilled to welcome Gold Coast to the Professional family,” said Adam Elberg, President and CEO of Professional. “Gold Coast is one of the premiere physical therapy providers in Suffolk County with a similar outlook on excellent service standards and company values. We know this is the beginning of a great future together. I’m also pleased to announce that Joseph Kozlowski, Robert Shapiro, Scott Donop, Glenn Bitran, and Richard Ferriggi are joining the Professional family as partners. Everyone is looking forward to working with them and growing together.”
“Professional’s superior commitment to producing high-quality outcomes and consistently achieving outstanding service value were key factors in our considerations for partnering with them,” said Robert Shapiro, Partner and Co-Founder of GCPT. “As we continue to demonstrate our best-in-class clinical protocols, it’s exciting to join Professional and further benefit our stakeholders — our patients, referral sources, and employees. I’m looking forward to this new chapter and am especially eager to work alongside Professional’s Chief Clinical Officer Rob Panariello in Professional Seminars — the renowned continuing education program for physical therapists, physical therapist assistants, athletic trainers, and strength and conditioning specialists.”
“Gold Coast’s exceptional commitment to patient care is a perfect fit with Professional,” said Tim Mauro, Vice President of Clinical Operations at Professional. “Together, we’ll be able to provide unsurpassed treatment and service across Long Island.”
The addition is a clear indication of Professional’s ability to execute on its strategic plan, continuing its rapid expansion and successful growth. Through best-in-class treatment and protocols, Professional continues to recruit and train top-tier physical therapists, and scale to its growing number of facilities throughout New York and New Jersey. With the addition of GCPT, Professional now has 27 locations.
About Professional Orthopedic and Sports Physical Therapy
Professional Orthopedic and Sports Physical Therapy (“Professional”), headquartered in Uniondale, New York is a leading provider of physical therapy and rehabilitation services in the New York metropolitan area and New Jersey. Professional was founded in 1998 and now operates 27 outpatient physical therapy centers: nine of which are located within Equinox Fitness Centers, four located in a Blink facility, one located in a Velocity Sports Performance Center, and thirteen standalone. Additionally, Professional operates a 20,000 square foot sports performance training facility in one of its locations. The company’s outpatient physical therapy centers provide treatment to patients suffering from musculoskeletal impairments associated with accidents, sports injuries, and various other medical conditions. www.professionalpt.com
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $700 million of equity capital under management and 24 professionals. GPP is currently making new private equity investments from GPP II, which has closed on $215 million in commitments. Great Point manages capital in private (GPP I, $156 million and GPP II) and public equity (BMVF, approximately $340 million) funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.