CORA Physical Therapy Has a New Owner
Gryphon Investors has signed a definitive agreement to sell its portfolio company CORA Health Holdings Corp to an affiliate of H.I.G. Capital. Gryphon originally invested in the Company in July 2016. Terms of the transaction were not disclosed, according to a media release.
Charlotte, NC-based CORA operates outpatient physical therapy and occupational therapy clinics, with 228 clinics primarily in the Southeastern US. The Company’s 850+ physical therapists, physical therapy assistants and other clinicians offer outpatient physical rehabilitation services for orthopedic problems, work-related injuries, sports injuries and various neuromuscular and neurological conditions.
“We are extremely pleased with the outcome of this transaction, which is our second successful investment and exit in the physical therapy space. Under CEO Dennis Smith and his team, CORA built upon its reputation for high-quality clinical care and successfully expand
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Heartland Veterinary Partners Names Greg DeAtkine as CEO
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CHICAGO, Jan. 13, 2021 /PRNewswire/ Heartland Veterinary Partners ( Heartland or the Company ), a leading veterinary support organization in the Mid-American and Southern U.S. markets, announced today it has named Greg DeAtkine as the company s CEO, effective immediately. He succeeds interim CEO Tim Martin, who will return to his role as Executive Chairman. Heartland is a portfolio company of Gryphon Investors, a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management.
Headquartered in Chicago, Heartland partners with nearly 350 veterinarians. The Company is focused on providing high-quality general veterinary services to companion animals and has an exceptional reputation within the industry due to its veterinarian-centric mission, vision, and values.
Private Equity Firm Acquires Physical Rehabilitation Network
Gryphon Investors, a middle-market private equity firm based in San Francisco, announces that it has acquired Carlsbad, Calif-based Physical Rehabilitation Network from Silver Oak Services Partners for an undisclosed amount.
Silver Oak will make an investment in the newly recapitalized company, and PRN’s management team will remain with the Company and retain an equity stake as well.
This transaction marks Gryphon’s third investment in the physical therapy category after successful earlier investments in Accelerated Rehabilitation and CORA Physical Therapy, according to a news release.
“We believe the physical therapy sector will experience more growth as active people age and require attention to injuries, but increasingly turn away from pharmaceutical treatment. At the same time, new regulations are improving patients’ direct access to care, making treatment faster and less administratively cumbersome. These
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