Alliance Physical Therapy Partners, an affiliate of New York-based asset management firm GPB Capital Holdings, LLC, has acquired a majority ownership stake in Franklin Rehabilitation, a Franklin-based provider of physical therapy services.
Franklin Rehabilitation operates out of two locations in Franklin, an outpatient clinic at 7253 S. 76th St. and within the Innovative Health & Fitness center, 8800 S. 102nd St. It has 16 employees between the two locations, according to an employee who answered the phone today.
The terms of the deal, which closed on Nov. 30, 2017, were not disclosed. It marks the seventh acquisition of Alliance Physical Therapy Partners, a portfolio company of GPB Capital Holdings focused on acquiring private physical therapy practices across the U.S.
“Franklin Rehab’s physical therapists are experienced specialists who are uniquely qualified to treat patients with musculoskeletal and neurological conditions—making Franklin Rehab a vital health care provider in its surrounding community,” said Mark Andrzejewski, chief executive officer of Alliance Physical Therapy Partners, in a news release. “The financial, administrative and operational support we will provide is intended to position our new partners at Franklin Rehab to continue to deliver an optimal standard of care that isn’t always available in larger institutional settings, while also treating more patients.”
Alliance Physical Therapy works with independent physical therapy practices to streamline managed payroll, workers’ compensation, recruitment and other administrative processes, according to a news release announcing the acquisition.
“In today’s challenging health care environment, independent physical therapy practitioners’ chances for success are much higher if they join forces with other practice operators who share their goals,” said Dotty Bollinger, managing partner with GPB Capital. “Alliance Physical Therapy Partners offers entrepreneurial physical therapists the opportunity to provide compassionate care for a greater number of patients, while maintaining their individual brands.”
Representatives with Alliance Physical Therapy Partners could not immediately be reached for additional comment on the transaction.