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.

Professional Physical Therapy Pursues Expansion in Connecticut

Established in 2003, Great Point Partners (GPP) has extensive equity capital under management in the health care investment sphere. Great Point Partners expanded its portfolio in early 2016 by announcing the acquisition of half a dozen clinics in Connecticut, where it is headquartered.

Professional Physical Therapy (ProPT), a GPP I portfolio company, acquired several Moore Physical Therapy & Fitness offices. This move was described as a way of broadening its offerings to include an expanded team of occupational and licensed physical therapists, as well as sports rehabilitation professionals. A core focus is on designing evidence-based treatment plans that comprehensively incorporate best practices.

The founder of Moore Physical Therapy & Fitness noted that after 25 years of running the company, he believed that this acquisition would benefit patients and staff and reinforce a “best-in-class” care commitment. The principal at GPP described partnership with the region’s largest outpatient physical therapy provider as bolstering the company’s presence throughout the tri-state market.