GPB Capital has made a move into the healthcare market with the purchase of four physical therapy centres, part of a new plan to bring medical treatment directly to consumers.
The firm has purchased Back in Motion, Rehab Access, Arrow Physical Therapy & Rehabilitation and Whatcom Physical Therapy, and additional acquisitions from within the sector are expected this year.
GPB previously focused on mid-market companies in automotive retail, managed IT services, debt strategies, waste management and real estate. The new plan will widen the firm’s investment focus.
GPB managing partner Dotty Bollinger said, “We are partnering with practice owners so they can maintain their autonomy while running their practices more efficiently and enhancing the innovative care available to their patients.”
“The acquisitions provide us with the opportunity to build a footprint spanning multiple markets across the nation, and work alongside these practices’ proven management teams to bring cutting-edge physical therapy treatment directly to patients.”
The firm announced in May that it had passed the $1bn mark in gross capital raised. GPB used some of this capital to purchase New York waste management companies Joe Morea & Sons Private Sanitation and Staten Island Carting a month later.
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