ATI acquires Spinal & Orthopedic Rehabilitation
Livingstone Chicago has advised its long-standing client ATI Physical Therapy, a portfolio company of KRG Capital Partners, on the acquisition of Spinal & Orthopedic Rehabilitation, a four clinic practice in Michigan with locations in Clinton Township, Novi, Pontiac/Bloomfield Hills, and Southfield. This acquisition grows ATI’s footprint to nearly 60 locations in Michigan, positioning the company as the largest physical therapy provider operating under one brand in the state.
“Spinal & Orthopedic is a perfect fit for ATI, complementing our existing Michigan locations,” said Brent Mack, PT, Chief Clinical Operations Officer at ATI. “By combining our resources, we will continue to provide the same exceptional care SOR is known for, along with future growth that will allow us to positively impact the lives of more patients.”
Founded near Chicago in 1996, ATI now operates 340 clinics across 12 states: Delaware, Georgia, Illinois, Indiana, Maryland, Michigan, Missouri, Ohio, Pennsylvania, Tennessee, Washington and Wisconsin. ATI was recapitalized by KRG Capital Partners, a Denver-based private equity firm, in 2012.
“ATI entered Michigan in late 2013 via the acquisitions of Michigan Rehabilitation Specialists, Excel Rehabilitation Services, and Dwight Orthopedic Rehabilitation,” said Livingstone Chicago’s Director Ryan Buckley. “The acquisition of SOR is consistent with ATI’s strategy of entering new markets with meaningful partnerships and significantly investing in communities through de novo development, add-on acquisitions, and other affiliations.”
Livingstone’s relationship with ATI dates back to 2005 when Livingstone professionals advised management with respect to its initial private equity recapitalization with KRG. Since then, Livingstone has advised ATI on multiple add-on acquisitions and the Company’s 2010 recapitalization. Today, ATI is a dominant national platform and one of the fastest growing operators within the physical therapy sector.