November 27, 2007
Dynamic Physical Therapy & Aquatic Rehabilitation Centers Merges With Progress Physical Therapy
Dynamic Physical Therapy & Aquatic Rehabilitation Centers, a Delaware-based provider of physical and occupational therapy, today announced it has merged with Progress Physical Therapy, a private practice provider of outpatient physical therapy in northeast Philadelphia, Montgomery, and Bucks County. This acquisition expands Dynamic's physical therapy services platform by adding four outpatient physical therapy clinics in and around Philadelphia. Lake Capital, a private equity firm that invests in growing services companies, first invested in Dynamic in April of 2006 and provided additional capital to fund this transaction.
Founded in 2001 by Bill Leitzel, Progress Physical Therapy provides pre- and post-operative care and treatment for sports-related injuries, orthopedic disorders and geriatric ailments as well as motor vehicle and industrial injuries. Progress is committed to providing patients with one-on-one care, and personalized recovery programs designed to improve their functional limitations. Progress will continue to operate under its current name, with continued leadership from its existing management team."We are thrilled to have the management team, employees and patients of Progress Physical Therapy join the Dynamic platform. By adding Progress' network, we have expanded our coverage area to include Philadelphia and the surrounding communities. In addition, Progress' successful health and weight management program is a perfect fit for our strategic growth plan," noted Michael Myers, president of Dynamic Physical Therapy and Aquatic Rehabilitation Centers.
"We are excited to join Dynamic and gain access to new patient relationships, infrastructure and additional resources to support our patients. With the support of the Dynamic team, we are confident that we can continue to expand our patient offerings and support," said Bill Leitzel, founder and chief executive officer of Progress.
About Progress Physical Therapy
Progress Physical Therapy is a private practice provider of outpatient physical therapy in northeast Philadelphia, Montgomery, and Bucks County. Progress Physical Therapy provides pre- and post-operative care and treatment for sports-related injuries, orthopedic disorders and geriatric ailments as well as motor vehicle and industrial injuries. Progress' comprehensive rehabilitation programs are built to empower patients to heal, regain independence, prevent disability, and promote wellness. More information on Progress Physical Therapy is available at www.progresspt.com.
About Dynamic Physical Therapy & Aquatic Rehabilitation Centers
Dynamic Physical Therapy is a community-based, full-service rehabilitation provider with multiple locations throughout Delaware and Eastern Pennsylvania. Dynamic offers the cutting-edge specialized treatment provided by expert licensed staff in a professional caring environment. More information on Dynamic is available on www.dynamicpt.com.
About Lake Capital
Lake Capital is a private equity firm that focuses on investments in service-based enterprises across various industries. The firm is currently managing more than $1.3 billion in equity commitments and seeks to build leading services companies through organic and acquisition-enhanced growth. More information about Lake Capital is available at www.lakecapital.com.