Q2-2021 Rehabilitation Update
Merger and acquisition activity within the rehabilitation sector continued at a strong pace during the second quarter of 2021. While the bulk of the deal flow consisted of bolt-on transactions to existing platforms, private equity investors continue to seek out platform caliber opportunities, evident by H.I.G’s acquisition of CORA Physical Therapy from Gryphon Investors.
Looking ahead, Provident expects continued add-on transaction activity with the potential for additional private equity exits as several platforms are rumored to be in the market seeking an exit. Due to increased competition for deals and a shrinking number of independent platform opportunities available, Provident has seen valuations remain at elevated levels in the rehabilitation space coming out of the pandemic and expects multiples to remain there for the foreseeable future.
To print and download the full Rehabilitation Update report, please click below…