September 10, 2013
GREENWICH, CT and WHITESTONE, NY — Professional Orthopedic and Sports Physical Therapy (“Professional”), a Great Point Partners I, L.P. (“GPP”) portfolio company, today announced that it has acquired The Sports Physical Therapy Group (“East Side/West Side”) and Joint Effort Physical Therapy (“Joint Effort”) both of which are located in Manhattan.
Adam Elberg, Founder, and Chief Executive Officer of Professional commented, “I am very excited about this latest expansion of our footprint in New York City. Not only are we now able to provide better access for our patients in parts of Manhattan that complement our existing presence, but we are joining forces with some of the most respected physical therapists in the area. Anthony Saraniti (East Side/West Side) and Lloyd Hines (Joint Effort) have been serving their communities with the highest quality physical therapy care for over 30 years. Together, the combined knowledge and expertise of our companies will only enhance the treatment quality for all our patients.”
Anthony Saraniti, owner of The Sports Physical Therapy Group stated, “In exploring a strong NYC partner, it was clear that Professional was the optimal group with which to team up. Entering the next phase of my company’s growth, alongside the management team of Professional, is a very exciting and positive step.”
And Lloyd Hines, owner of Joint Effort, added, “Professional has a highly regarded academic and clinical reputation. I have had the opportunity to get to know their leadership over many years. Clinical leaders like Robert Panariello, their Chief Clinical Officer, make Professional an ideal fit with Joint Effort’s core values of providing outstanding patient care. I look forward to working closely with all the “professionals” at Professional!”
These acquisitions are 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 its growing number of facilities throughout New York and New Jersey. With the addition of East Side West Side and Joint Effort, Professional now has 21 locations.
About Professional Orthopedic and Sports Physical Therapy
Professional Orthopedic and Sports Physical Therapy (“Professional”), headquartered in Whitestone, NY is a leading provider of physical therapy and rehabilitation services in New Jersey and New York metropolitan areas. Professional was founded in 1998 and operates 21 outpatient physical therapy centers: eight of which are located within Equinox Fitness Centers, one located in a Blink facility, one located in a Crunch Fitness, one located in a Velocity Sports Performance Center, and six 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.
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 $600 million of equity capital under management. GPP is currently investing from GPP II, which is targeted at $200 million. Great Point manages capital in private and public 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 biologics and pharmaceutical infrastructure, diagnostics, 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.