Thursday, July 16, 2015
PHOENIX Rehabilitation and Health Services, Inc., headquartered in Blairsville, PA, expands its footprint into the Mid-Atlantic region through the acquisition of privately-held, Virginia-based Advanced Center for Physical Therapy ("ACPT"), with locations in Charlottesville and Ruckersville/Barboursville.
The acquisition will provide PHOENIX the ability to continue with its strategic growth plan for expansion beyond the Pennsylvania marketplace through de-novo development, as well as, mergers and/or acquisitions of other mid-Atlantic private practice physical therapy entities.
"We are thrilled to welcome the ACPT team to PHOENIX," commented David Watson, President and CEO of PHOENIX. "We see tremendous opportunities on the horizon for our company. The first acquisition in the mid-Atlantic region had to be the right fit for PHOENIX in order to build our brand in the marketplace. ACPT operates two successful centers and practices with the same philosophy as PHOENIX – providing the industry's highest quality outcomes driven care to our patients."
Operationally, "3 Rivers Capital applauds PHOENIX's choice of investment for strategic growth in the physical therapy industry in the mid-Atlantic," stated Rob Carskadden, Managing Director of 3 Rivers Capital. "After reviewing the financial status of ACPT and knowing the historical fiscal responsibility of PHOENIX, they chose a strong platform for which to build their network in the new market. We have no doubts the company's experienced management team will succeed."
prnewswire.com
