GLEN ROCK, N.J.--(BUSINESS WIRE)--SportsMed Physical Therapy (“SportsMed” or the “Company”), a leading provider of physical therapy, chiropractic, acupuncture and occupational therapy services, today announced it has acquired the two clinics comprising Mountainside Wellness, another leading provider of physical therapy and chiropractic services in the central New Jersey (“NJ”) area.
The acquisition of the two clinics, located in Mountainside and Colonia, NJ, provides the Company with two additional locations in complimentary geographic areas to SportsMed’s existing 33 locations, and further supports the Company’s strategy to expand its footprint.
Dr. Peter Ponzini, Co-Chief Executive Officer, said of the acquisition, “We are incredibly excited to announce the acquisition of Mountainside Wellness. The team is thrilled to integrate these locations into the SportsMed platform as we continue to scale in the greater Tri-State area. We have a growing pipeline of opportunities and remain committed to expanding our platform and reach via incremental M&A.”
SportsMed is a portfolio company of Hildred Capital Management. Holland & Knight served as legal adviser to SportsMed on the transaction. Debt financing for the transaction was provided by Oxford Finance.
About SportsMed Physical Therapy
Founded in 2004, SportsMed is a physical therapy-focused physician practice management company, with 33 clinics that provide physical therapy, chiropractic, acupuncture, and occupational therapy services. SportsMed utilizes top of the line equipment and employs highly experienced professionals to provide quality care across the Company’s service lines. For more information, please visit www.spineandsportsmed.com.
About Hildred Capital Management
Hildred Capital Management is a New York-based private equity investment firm that pursues growth equity investments in lower middle market healthcare companies with leading products, technologies, and services. Hildred focuses on opportunities to create value from earnings growth, operational improvements, and multiple expansion in companies with revenues of $0 to $100 million. Areas with attractive fundamentals where Hildred may invest include the following healthcare subsectors: healthcare services, consumer products, information technology, medical devices, and pharmaceuticals; including the related industries that surround these healthcare subsectors. For more information, please visit www.hildred.com.
Director of Brand and Business Development
SportsMed Physical Therapy