Today we officially announce acquisition of California-based Spine & Sport Physical Therapy. This acquisition adds 51 clinics across Southern and Northern California to PRN’s growing network, solidifying its position as a leading provider of outpatient physical therapy care in the state.
Spine & Sport is known for its patient-centered approach and strong clinical outcomes and has earned a stellar reputation within the communities it serves. The Company offers an academic, research-based approach to physical therapy and offers a wide range of services. CEO Brett Raasch and the management team will remain with the Company and become integral members of the PRN team. Spine & Sport will join PRN’s extensive California brand network, which includes California Rehabilitation & Sports Therapy, PRN San Diego, and Complete Balance Solutions.
“We are thrilled to welcome Spine & Sport to the PRN team,” said Ajay Gupta, CEO of PRN. “This acquisition strengthens PRN’s ability to deliver innovative, high-quality physical therapy services, providing greater access to care and support for patients recovering from injuries or seeking improved mobility and wellness. Together, we look forward to continuing to provide the highest level of care to patients across California, ensuring that the individuals we serve feel supported and cared for during their rehabilitation journeys.”
“Spine & Sport and PRN share deep roots in San Diego and a mutual commitment to exceptional care, innovation, and professional growth,” said Mr. Raasch. “PRN’s well-established presence through its respected brands perfectly aligns with our patient-centric values and vision. This partnership not only enhances our ability to serve patients and grow our operations but also creates new opportunities for our team, all while staying true to the principles that define us. We are excited to embark on this new chapter together.”
PRN is a portfolio company of Gryphon Investors, a leading middle-market private investment firm.
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About Physical Rehabilitation Network
Headquartered in Frisco, TX, Physical Rehabilitation Network (PRN) is a leading owner-operator of more than 260 outpatient physical therapy clinics across 16 states in the western and central regions of the United States. Boasting a differentiated delivery model, PRN integrates owning, managing and developing physical therapy locations and brands as well as establishing Health System Joint Ventures and PT practice partnerships with its value-based, people-first and outcomes-driven care delivery solutions. PRN’s growing network of distinguished regional brands offers a full range of treatment services, including outpatient physical therapy, workplace ergonomics, workers’ compensation therapy, sports and auto injury rehabilitation, and rehabilitation for seniors. PRN proudly supports over 1,700 physical therapy experts, offering many developmental pathways committed to comprehensive patient care and building leaders of tomorrow.
About Gryphon Investors
Gryphon Investors is a leading middle-market private investment firm focused on profitably growing, competitively advantaged companies in the Business Services, Consumer, Healthcare, Industrial Growth, Software, and Technology Solutions & Services sectors. With approximately $10 billion of assets under management, Gryphon prioritizes investments in which it can form strong partnerships with founders, owners, and executives to accelerate the building of leading companies and generate enduring value through its integrated deal and operations business model. Gryphon’s highly differentiated model integrates its well-proven Operations Resources Group, which is led by full-time, Gryphon senior operating executives with general management, human capital acquisition and development, treasury, finance, and accounting expertise. Gryphon’s three core investment strategies include its Flagship, Heritage, and Junior Capital strategies, each with dedicated funds of capital. The Flagship and Heritage strategies target equity investments of $50 million to $500 million per portfolio company. The Junior Capital strategy targets investments of $10 million to $25 million in junior securities of credit facilities, arranged by leading middle-market lenders, in both Gryphon-controlled companies, as well as in other private equity-backed companies operating in Gryphon’s targeted investment sectors.
The M&A market for healthcare companies continues to build on STRATEGIC opportunities and a fragmented market. Consolidations along with unprecedented demand are driving scale across the continuum of care. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
Contact Paragon Ventures for more information.
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