December 31, 2012
GREENWICH, CT and WHITESTONE, NY — Great Point Partners (“GPP) today announced that its GPP I portfolio company, Professional Orthopedic and Sports Physical Therapy (“ProPT”), has acquired Millennium Physical Therapy (“Millennium”), a premier physical therapy company with four locations in northern New Jersey.
Adam Elberg, Founder and Chief Executive Officer of ProPT commented, “I am very excited to rejoin forces with Millennium. The partners of ProPT and Millennium have a long history of working together and share a common vision of providing excellent patient care. Allan Roth, Jeff Debellis & Michael Implicito have long been respected leaders in the field of Physical Therapy, and we are proud to call them our partners via this transaction. This significantly strengthens the ProPT footprint in New Jersey. Together, we look forward to providing the highest quality of care in the tri-state area.”
Allan Roth, Co-Founder of Millennium added, “We are thrilled about the combination of Millennium and ProPT and what it will mean in terms of added value for our patients. Both companies provide high quality physical therapy services and care deeply about everyone we work with. Our expertise in New Jersey, along with ProPT’s vision, will make a powerful contribution to the industry”.
The acquisition is a clear indication of ProPT’s ability to execute on its strategic plan, continuing its rapid expansion and successful growth. Through best-in-class treatment and protocols, ProPT continues to recruit and train top tier physical therapists, and scale to its now 17 facilities throughout New York and New Jersey.
About Professional Orthopedic and Sports Physical Therapy
Professional Orthopedic and Sports Physical Therapy (“ProPT”), headquartered in Whitestone, NY is a leading provider of physical therapy and rehabilitation services in New Jersey and New York metropolitan areas. ProPT was founded in 1998 and operates 17 outpatient physical therapy centers: nine of which will be located within Equinox Fitness Centers, one located in a Blink facility, one located in a Velocity Sports Performance Center, and six standalone. Additionally, ProPT 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.
About Great Point Partners
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $600 million of equity capital under management. The ProPT investment was made from GPP I, a fully committed $156 million lower middle market buy-out fund. GPP is currently investing from GPP II, which is targeted at $200 million.
Great Point manages capital in public and private equity 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 behavioral health, biologics manufacturing, life sciences, health care services, hospital outsourcing, information technology, medical devices, 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.