H.I.G. Capital : Signs Definitive Agreement to Acquire CORA Physical Therapy
05/25/2021 | 06:01am EDT
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H.I.G. Capital ( H.I.G. ), a leading global alternative investment firm with $44 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire CORA Health Holdings Corp. and its subsidiaries, doing business as CORA Physical Therapy (“CORA” or the “Company”), a leading operator of outpatient physical and occupational therapy clinics. CORA’s management team, led by CEO Dennis Smith, will continue to run the Company and remain as shareholders in the business.
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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Vancouver, British Columbia (Newsfile Corp. - January 29, 2021) - EGF Health Holdings Corp. (the Company ) announced today that it has increased its private placement to up to 12,307,692 units at a price of $0.325 per unit for gross proceeds of up to $4,000,000. Each unit consists of one common share and a half warrant. Each whole warrant will entitle the subscriber to purchase an additional common share at an exercise price of $0.50 per share for a period of one year from the closing of the private placement.
The first tranche of the private placement consisting of 6,515,277 units and proceeds of $2,117,465 closed on January 8, 2021.
The proceeds from the private placement will be used for general working capital and for the closing of the MRVL Island Ventures Ltd. transaction. Finder s fees will be paid on the private placement.