Gryphon Investors Recapitalizes Accelerated Rehabilitation Centers and OccuSport Physical Therapy With Management
Posted on: Thursday, 10 April 2008, 12:01 CDT
Gryphon Investors announced today that it has completed the simultaneous recapitalizations of Accelerated Rehabilitation Centers ("Accelerated") and OccuSport Physical Therapy ("OccuSport"). Accelerated and OccuSport are premier providers of physical rehabilitation services with a shared commitment to offering patients hands-on personalized service by highly-skilled and dedicated therapists. Terms of the deals were not disclosed.
Founded in Chicago in 1989, Accelerated has grown to over 135 owned and managed physical therapy centers in six states. Along with Accelerated's emphasis on orthopedic and sports rehabilitation, the company specializes in hand therapy and rehabilitation for work related injuries and women's health. In addition, Accelerated offers rehabilitation services to nursing homes, long-term care facilities, and home care providers and provides athletic training services to schools, teams, clubs and other sports-related venues.
OccuSport Physical Therapy was founded in 1999 and provides care through 13 clinics across the Chicagoland area. OccuSport is dedicated to providing rehabilitation programs which enhance or restore the patient's quality of life and safely return the patient to a normal or optimum state of health and function.
Eric Warner, Accelerated's CEO and a licensed physical therapist, will be the CEO of the combined businesses. Mr. Warner stated, "We are excited about our partnership with Gryphon and their success in supporting the growth plans of their management teams."
David Andrews, the Founder and Managing Partner of Gryphon Investors said, "Accelerated is an attractive healthcare services platform. We are excited to partner with Accelerated's highly experienced management team and to build on Gryphon's previous successes with other health care services businesses such as Bright Now! Dental, Nursefinders and Provider Health Net Services."
John Rogers, a Principal at Gryphon, added, "In the highly fragmented physical rehabilitation sector, we are attracted to the exciting opportunities to drive growth through de novo clinic expansion and accretive acquisitions."
Based in San Francisco, Gryphon Investors focuses on leveraged acquisitions of, and growth investments in, middle-market companies in partnership with experienced management. Having managed more than $1 billion of discretionary equity capital, Gryphon has an extensive track record of investing $25 to $75 million of its own capital in companies with sales ranging from $25 to $250 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon's capital, professional resources and significant financial and operational expertise. Visit www.gryphoninvestors.com for more information.
Source: Business Wire
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