Q2-2022 Rehabilitation Update
Favorable industry tailwinds, market fragmentation, and the recession resistant nature of the industry continue to drive investor interest in the rehabilitation sector. Following several active quarters of platform transaction activity, Q2 primarily consisted of bolt-on deals by existing consolidators in the space. The recent emphasis on strategic transactions is not, however, due to a lack of investor demand for new platform opportunities but rather a lack of sizable assets on the market.
Due to increased competition for deals and a shrinking number of independent platform opportunities available, Provident expects valuations to remain at elevated levels, despite some of the challenges in the macro economic environment.
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