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Professional Orthopedic and Sports Physical Therapy Completes Three Tuck-in Acquisitions Expanding Long Island Footprint
Introduction
GREENWICH, CT and UNIONDALE, NY – Professional Orthopedic and Sports Physical Therapy (“Professional”), a Great Point Partners I, L.P. portfolio company, has acquired Bi-County Physical Therapy & Rehabilitation, Flynn Physical Therapy and S.M.A.R.T. Physical Therapy, continuing its rapid growth on Long Island in an effort to provide the most convenient and highest quality care to its patients. With these three acquisitions, Professional adds six locations in the Long Island/Queens area, now totaling 63 facilities throughout New York, New Jersey and Connecticut.
“It’s amazing that we are able to add three additional high caliber clinically-based companies right on the heels of our acquisition of Premier Physical Therapy,” stated Tim Mauro, Professional’s Partner and Regional VP of Clinical Operations on Long Island.
Adam Elberg, Professional’s Founding Partner, President & CEO, added, “These three tuck-in acquisitions further strengthen Professional’s footprint and strategic position as the largest orthopedic outpatient physical therapy company in the New York, New Jersey and Connecticut tri-state area.”
According to Stephen Weaver, Vice President at Great Point Partners, Professional has now completed eleven tuck-in acquisitions since GPP’s investment in October 2011 and has completed six tuck-in acquisitions thus far in 2015. Professional continues to execute on its strategic plan of successful growth while maintaining an exceptional staff of physical therapists and delivering the highest quality of care to its patients.
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 $800 million of equity capital under management and 26 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million, and GPP II) and public (BMVF, approximately $400 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical infrastructure, devices and diagnostics, health care services, outsourcing, and information technology. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Professional 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, New Jersey and Connecticut. Founded in 1998, Professional now operates 63 outpatient physical therapy centers: 12 located within Equinox Fitness Centers, four located in Blink facilities, one located in a STACK Velocity Sports Performance Center, and 46 standalone. The company’s outpatient physical therapy centers provide treatment to patients suffering from musculoskeletal impairments associated with accidents, sports injuries, and other medical conditions. Additionally, Professional operates a 20,000 square foot sports performance training facility in Garden City, New York.