We’ll be able to provide patients and physicians with greater flexibility of choice for treatment sites, as well as an incredible amount of opportunities for employees.
Uniondale, NY (PRWEB) June 29, 2014
Professional Orthopedic and Sports Physical Therapy (“Professional”), a Great Point Partners I, L.P. (“GPP”) portfolio company, has acquired the 13 Sports Physical Therapy of New York’s (“SPTNY”) downstate locations. Through this acquisition, Professional will provide broader New York City and Queens coverage, as well as expand its services into Brooklyn, Rockland County and the Bronx.
“The SPTNY acquisition is one of the most exciting deals we’ve done to date,” said President, CEO & Founding Partner Adam Elberg. “With 13 additional locations, we’ll be able to provide patients and physicians with greater flexibility of choice for treatment sites, as well as an incredible amount of opportunities for employees. We’re looking forward to integrating SPTNY’s team into the Professional family, as we continue to provide the best care in the New York-Metropolitan area. Our priorities will always be excellent, individualized patient care and maintaining an environment where employees can thrive.”
When asked about the sale of SPTNY’s downstate clinics to Professional, Lynn Steenberg, owner of SPTNY said, “It was critically important for us to find a company that would continue to emphasize the family values we have created at Sports PT of NY. Because Sports PT will continue to service the upstate region of NY from Saratoga to Buffalo, it was important to divest our downstate business to a company that would provide the same support to the staff, patients, and medical community. Professional can provide that necessary support.”
With more than 30 years of experience in Physical Therapy in the New York-Metropolitan area, Professional’s Senior Vice President of Clinical Operations Don Demay was chosen to oversee the integration plan. “I’m excited to lead the incorporation of SPTNY’s downstate clinics into Professional,” said Demay. “As Professional continues to grow, we’re ensuring the best service for our patients, which is critical to our mission to provide the highest quality professional care that Physical Therapy has to offer.”
At the core of Professional’s growth is its commitment to meeting the needs of each patient. With the SPTNY downstate acquisition, Professional will be able to provide even more options to the communities in which it serves.
Through best-in-class treatment and protocols, Professional continues to recruit and train top-tier Physical Therapists, and scale its growing number of facilities throughout New York and New Jersey. With the addition of SPTNY’s downstate facilities, Professional now has 40 locations.
About Professional Orthopedic and Sports Physical Therapy
Professional Orthopedic and Sports Physical Therapy (“Professional”), headquartered in Uniondale, New York, is a leading provider of Physical Therapy and Rehabilitation Services in the New York-metropolitan area and New Jersey. Professional was founded in 1998, and now operates 40 outpatient Physical Therapy centers: 11 of which are located within Equinox Fitness Centers, four located in a Blink facility, one located in a Velocity Sports Performance Center, and 24 standalone. Additionally, Professional operates a 20,000 square foot sports performance training facility in Garden City, New York. The company’s outpatient Physical Therapy centers provide treatment to patients suffering from musculoskeletal impairments associated with accidents, sports injuries, and various other medical conditions. http://www.professionalpt.com
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $700 million of equity capital under management and 24 professionals. GPP is currently making new private equity investments from GPP II, which has closed on $215 million in commitments. Great Point manages capital in private (GPP I, $156 million and GPP II) and public equity (BMVF, approximately $340 million) funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. http://www.gppfunds.com