Tuesday, October 08, 2013

Physiotherapy Associates Hits Bankruptcy Road

Down Bankruptcy road...
Physiotherapy Associates, the Exton, PA based rehabilitation service provider company, recently filed for Chapter 11 bankruptcy protection.  Accounting concerns along with a $325M debt load are reportedly at the core of the bankruptcy.  Physiotherapy operates 575 outpatient rehab and O&P clinics in 34 states.

The firm was a 2012 acquisition by Court Square Capital Partners - part of a trend toward increased PE investments in healthcare over the past few years.  Physiotherapy Associates is NOT headed down the bankruptcy road alone.  Rotech Healthcare, a home medical equipment company and Rural/Metro Corp., a provider of ambulance services hit the path earlier this year. 
>>Read more

Source:  wsj.com

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