GPP Exits Partnership with Professional Physical Therapy

Great Point Partners pic

Great Point Partners
Image: gppfunds.com

Since its establishment in 2003, Great Point Partners (GPP) has invested in health care companies throughout Europe and the United States, investing into more than 100 opportunities. In December 2016, Great Point Partners announced its exit from its partnership with Professional Physical Therapy (ProPT), making it the fourth successful investment exit for GPP over the course of 14 months.

An award-winning provider of physical therapy and rehabilitation services based in Uniondale, New York, ProPT operates 107 centers for physical and hand therapy outpatients in New Jersey, New York, and Connecticut.

Over the course of five years of partnership, ProPT expanded upon the 10 centers and 300 employees it had at the start of the relationship, resulting in ProPT now overseeing more than 100 centers and employing approximately 1,200 people. Further, ProPT made 21 tuck-in acquisitions during the partnership and experienced a compound annual revenue growth rate in excess of 35 percent.

Professional Physical Therapy Completes Two Tuck-In Acquisitions

Professional Orthopedic and Sports Physical Therapy pic

Professional Orthopedic and Sports Physical Therapy
Image: professionalpt.com

Based in Connecticut, Great Point Partners (GPP) has an investment approach that makes equity capital-funded acquisitions of health care organizations across North America and Western Europe. In July, 2016, Great Point Partners announced a pair of acquisitions through Professional Physical Therapy (ProPT), a GPP portfolio company.

With the acquisition of PRO Physical Therapy and Achieve Sports Medicine & Rehab, the Connecticut firm now has a trio of new New Jersey clinics spanning Wyckoff, Randolph, and Waldwick. These bring the number of 2016 ProPT tuck-in acquisitions up to seven, with the company’s resources extending to nearly 90 outpatient locations across the Northeast. This consolidates the firm’s status as one of the leading physical therapy providers region-wide.

A ProPT executive described the acquisition as making strategic sense in enabling robust partnerships among knowledgeable, well-established local practitioners. With this expanded roster of physical, hand, and occupational therapists in place, patients will receive enhanced care tailored to their specific rehabilitative goals.

Professional Physical Therapy Expands Hand Therapy Portfolio

Great Point Partners pic

Great Point Partners
Image: gppfunds.com

Great Point Partners (GPP) is a health care investment firm that manages public and private capital and has taken positions in more than 100 growth companies. In February 2016, Great Point Partners announced that its portfolio company, Professional Physical Therapy (ProPT), had acquired Wilutis Hand Therapy and Advanced Hand Therapy, which are Long Island practices in the occupational and hand therapy sphere.

Established in 1998, ProPT maintains outpatient operations spanning 67 physical therapy centers across Connecticut, New Jersey, and greater New York City. These include stand-alone centers as well as those located within Blink Fitness and Equinox Fitness Centers. The firm also maintains a Garden City sports performance training facility spanning 20,000 square feet.

ProPT’s acquisition of the companies was described as unifying two distinct regional leaders and enabling the firm to significantly expand its range of company wide hand therapy offerings.The overall business plan pairs organic and acquisition-driven growth.