ATI expands physical therapy expertise with acquisition of Monroe

  • sep. 2014
  • Healthcare
  • M&A: Buy-Side
  • US

Livingstone Advises ATI on Market Entry into St. Louis Metro

Livingstone Chicago is pleased to announce that its long-standing client ATI Physical Therapy, a portfolio company of KRG Capital Partners, has acquired Monroe Physical Therapy & Sports Medicine, a leading provider of physical therapy services to the greater St. Louis market.  With this acquisition, ATI has strengthened its presence in southern Illinois and expanded its footprint to 11 states.

Monroe is a six clinic private practice with locations in Columbia, Freeburg, Millstadt, Red Bud and Waterloo in Illinois, and Oakville in Missouri.  All of the physical therapists, physical therapist assistants, athletic trainers and staff at Monroe will continue their roles within ATI.

“With the changes in the healthcare landscape over the past few years, I realised the need to partner, and ATI is the perfect partner for Monroe,” said Fred Shinn, Owner, Monroe Physical Therapy.  “The resources ATI brings to the table will truly allow us to take better care of each community we serve.  ATI’s commitment to our communities, our staff and their families has been nothing short of amazing.”

Founded near Chicago in 1996, ATI now operates over 300 clinics across 11 states: Illinois, Indiana, Michigan, Missouri, Ohio, Wisconsin, Pennsylvania, Maryland, Delaware, Tennessee and Georgia.  ATI was recapitalised by KRG Capital Partners, a Denver-based private equity firm, in 2012.

“Monroe is the leader for physical therapy in the Southern Illinois/St. Louis area, and we’re excited to welcome this team to the ATI family,” said Brent Mack, Chief Clinical Operations Officer. “Our expansion into this market is an investment in the future and allows us to positively impact the lives of more individuals.”

“ATI has developed an unmatched reputation as the preferred partner to private physical therapy practices, offering sellers fair value, deal optionality, and certainty to close,” said Livingstone Chicago’s Director Ryan Buckley.  “Post-transaction, ATI always maintains excellent patient care, enhances employee career potential, and reinvests heavily in its served markets.”

Livingstone’s relationship with ATI dates back to 2005 when Livingstone professionals advised management with respect to its initial private equity recapitalisation.  Since then, Livingstone has advised ATI on numerous past and pending add-on acquisitions and also advised in ATI’s 2010 recapitalisation.  Today, ATI is a dominant national platform and one of the fastest growing operators within the physical therapy sector.

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