INSIGHT

Q2-2019 Rehabilitation Update

The rehabilitation sector experienced robust deal flow in the second quarter of 2019. Shore Capital Partners established an outpatient physical therapy platform with its recapitalization of Golden Bear Physical Therapy. Concentra, CORA Health Services, and MOTION PT Group were all extremely active acquirers, with multiple add-on transactions per company. Provident anticipates overall physical therapy sector consolidation activity to continue at a rapid pace; 2019 is seeing a similar mix to 2018 in terms of private equity platform and addon activity, with tuck-in acquisitions representing the bulk of the closed deals in the outpatient market.

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Sources: SSEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PitchBook; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.
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