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GPB Capital’s Alliance PT acquires Results Physical Therapy

Back in Motion Physical Therapy (Back in Motion), owned by GPB Capital affiliate Alliance Physical Therapy Partners, has acquired Results Physical Therapy, adding two additional locations in central Maine.

Alliance PT acquired a majority ownership stake in Back in Motion in May 2017, and after only a few months of working with the team of experienced professionals at Alliance PT, has grown to the point where it can provide high-quality care to more patients by acquiring and integrating other businesses.
“The impressive growth that Back in Motion has achieved, in such a short period of time, is a testament to the managerial, administrative, and financial support we make available to our operating partners,” says Dotty Bollinger, Managing Partner with GPB Capital responsible for the firm’s Healthcare Strategy. “We will continue to work alongside Back in Motion’s management team to facilitate growth, and position the practice to deliver state-of-the-art physical therapy treatment to more patients across Maine.”
As part of an innovative arrangement to help physical therapy practice operators achieve their next stage of growth and profitability, GPB Capital enables them to work closely with the team at Alliance PT in exchange for majority ownership stakes. Alliance PT provides services to streamline and optimize processes related to managed payroll, benefits, workers’ compensation, and recruitment, and seeks to help practice operators obtain more favourable terms during negotiations with insurance companies over large-scale reimbursement. The Alliance PT staff possess a broad range of experience building and running physical therapy practices, and can offer guidance about recruitment, acquisitions, compliance, technology, strategic growth, and direct-to-consumer marketing.
“We’re excited that Back in Motion is experiencing this type of growth, especially at such an early stage in our relationship,” said Mark Andrzejewski, CEO of Alliance Physical Therapy Partners. “Our mission is to offer our partners like Back in Motion the opportunity to realize their vision of helping more people return to a normal, active lifestyle by expanding their footprint in physical therapy.”
At the time of its acquisition, Back in Motion operated three outpatient physical therapy centers. The company experienced 11.3 per cent growth in patient volume between 2015 and 2016. Alliance PT continues to work with the management team at Back in Motion to implement standardized operational adjustments in order to improve the level of care for a greater number of patients.
Results Physical Therapy operates outpatient physical therapy clinics in Brewer and Dexter, Maine. The company was founded in 2006 by Carol Lane, a physical therapist who has operated the practice since 1987. Results Physical Therapy’s two clinics both operate gyms open to the public, which can serve as sources of referrals for the outpatient practice. The company will maintain its brand after its integration into Back in Motion, which will become GPB Capital’s portfolio company focused on the physical therapy market in Maine. Terms of Results Physical Therapy’s acquisition by Back in Motion, which closed on September 28, 2017, were not disclosed.
“GPB Capital and Alliance Physical Therapy Partners have certainly followed through on their promise to help us grow our practice,” said Michel Brunet, Co-Founder of Back in Motion Physical Therapy. “As part of their dedication to portfolio companies, they have given us the tools, capital, and support we need to achieve the long-term goals we have for our business,and our patients.”

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