CORA Physical Therapy Has a New Owner
Gryphon Investors has signed a definitive agreement to sell its portfolio company CORA Health Holdings Corp to an affiliate of H.I.G. Capital. Gryphon originally invested in the Company in July 2016. Terms of the transaction were not disclosed, according to a media release.
Charlotte, NC-based CORA operates outpatient physical therapy and occupational therapy clinics, with 228 clinics primarily in the Southeastern US. The Company’s 850+ physical therapists, physical therapy assistants and other clinicians offer outpatient physical rehabilitation services for orthopedic problems, work-related injuries, sports injuries and various neuromuscular and neurological conditions.
“We are extremely pleased with the outcome of this transaction, which is our second successful investment and exit in the physical therapy space. Under CEO Dennis Smith and his team, CORA built upon its reputation for high-quality clinical care and successfully expanded its market leadership in the Southeastern United States. We have no doubt that the company will continue to thrive with its new partners.”