Wednesday, May 10, 2017
Great Point Partners Exits Professional Physical Therapy Investment
Great Point Partners, a health care investment firm headquartered in Greenwich, Connecticut, exited its investment with Professional Physical Therapy (ProPT), a private equity portfolio company, in December 2016. ProPT provides outpatient physical therapy service in New York, New Jersey, and Connecticut. Great Point Partners invested in the company in 2011.
At the time of the investment, ProPT operated in one state with 10 facilities and around 300 employees. GPP then helped ProPT develop its acquisition and integration platform, putting in place a board of directors that guided and strengthened the management team as it achieved an more than 35 percent compound annual growth rate.
During the partnership, 21 tuck-in acquisitions were executed. ProPT now provides its services through substantially more facilities in the New York, New Jersey, Connecticut Tri-State area, employing more than 1,200 individuals. This was the fourth exit for Great Point Partners since September 2015.