Investment sparks growth for physical therapy centers

669
Troy Phillips. Courtesy BPOC

A Grand Rapids-based physical therapy provider received a strategic investment from a Chicago health care investor.

Chicago-based BPOC said Wednesday, Dec. 22, it made a strategic investment in Alliance Physical Therapy Partners, as demand for physical therapy services continues to increase.

The transaction is effective immediately and financial terms were not disclosed.

McGuire Woods represented Alliance in the transaction, and Cain Brothers served as its exclusive financial adviser. Kirkland & Ellis served as BPOC’s legal adviser, and Houlihan Lokey Capital served as its financial adviser in connection with the transaction.

“We are incredibly excited to partner with BPOC as we enter our next stage of growth,” said Richard Leaver, CEO of Alliance. “Alliance was founded with the mission to become the leading physical therapy network in the country by delivering superior, quality and compassionate services to our patients. Together, we believe this partnership will allow for the continued expansion of high-quality patient services as we grow a community of exceptional physical therapy practices.”

BPOC will partner with the existing Alliance management team, led by Leaver, to execute Alliance’s growth strategy and vision.

“As the health care industry continues to shift (toward) value-based care, finding platforms designed to help patients avoid expensive procedures while improving clinical outcomes is critical,” said Troy Phillips, partner at BPOC. “We have been extremely impressed with Alliance’s reputation for prioritizing patient experience and delivering excellent, cost-effective care. We look forward to partnering with the Alliance team and supporting the company’s growth strategies and long-term vision.”

Alliance currently operates 90-plus clinics in 14 states and offers virtual physical therapy, a workplace therapy solution, in-hospital services and a comprehensive electronic medical record platform, in addition to traditional physical therapy services.

Facebook Comments