The physical therapy industry is comprised of inpatient and outpatient rehabilitation delivery models which provide care to patients with a variety of conditions, including musculoskeletal disorders, sports injuries, neurological disabilities, speech and audiology impairments, and general orthopedic injuries. Approximately 60% of the revenue generated in the industry is driven by orthopedic rehabilitation.1 Outpatient rehabilitation clinics offer cost-effective outcomes through their services, especially when compared to inpatient rehabilitation services. Outpatient physical therapy is a large and fragmented industry, with annual revenue of approximately $35 billion and between 16,000 and 18,000 free-standing clinics nationwide.2
GPB Capital seeks to acquire profitable outpatient physical therapy centers and provide capital, as well as operational assistance, to these clinics. GPB Capital will aim to drive operational efficiencies by consolidating the back-office functions, such as recruiting, revenue cycle management, credentialing, advertising and insurance procurement, across its footprint of owned physical therapy centers.