Carlsbad, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- Physical Rehabilitation Network (PRN), a leading physical therapy provider and practice management organization, today announced further expansion in the state of California with its acquisition of Kinetix Advanced Physical Therapy (Kinetix APT), which operates two clinics in Valencia and Lancaster. The addition of Kinetix APT grows PRN’s California footprint to 62 clinics.
“We are excited to continue widening access to quality PT care in California’s Los Angeles County with the addition of Kinetix Advanced Physical Therapy,” said Ajay Gupta, CEO, PRN. “Kinetix Co-founders Michelle Gawenda and Tim Eckard have proudly established the group’s recognizable role in each community as the PT provider of choice, which is a badge of honor that we look forward to continuing and expanding upon in this exciting next chapter for both groups.”
Founded in 2005, the Kinetix APT team is best known for its leading orthopedic manual physical therapy, aquatic therapy, pre- and post-surgical rehabilitation, and vestibular rehabilitation care programs. Their highly respected and decorated team collectively brings more than 45 years of treatment experience.
“Michelle and I started Kinetix almost 17 years ago with a small, family clinic in Santa Clarita and a genuine commitment to high quality and individualized patient care,” said Mr. Eckard. “Kinetix has grown, but we’ve never lost sight of that mission which led us to expand to the Antelope Valley. PRN shares in that philosophy of patient care and successful outcomes, and also offers remarkable operational and clinical support, which will allow Kinetix to thrive in our communities. It’s a win-win for all and I’m thrilled to be a part of the PRN family.”
PRN is a portfolio company of Gryphon Investors, a leading middle-market private equity firm.
PricewaterhouseCoopers LLP., and Bass, Berry & Sims PLC acted as advisors to PRN on the transaction.
To learn more about Kinetix Advanced Physical Therapy, visit Kinetixapt.com.
For more information on PRN locations or partnership opportunities, visit PRNpt.com. To stay up to date on the latest PRN news, follow us @PRNPhysicalTherapy on Facebook, @PRN_therapy on Twitter and on LinkedIn.
About Kinetix Advanced Physical Therapy
Kinetix Advanced Physical Therapy is a privately owned Outpatient / Orthopedic Physical Therapy practice founded in 2005 by Tim Eckard, MSPT, Cert. MDT and Michelle Gawenda, RN. The Company specializes in orthopedic manual physical therapy, sports medicine, pre/post-surgical, neurological rehabilitation, and aquatic therapy.
About Physical Rehabilitation Network
Founded in 1991, Physical Rehabilitation Network, LLC., (PRN) specializes in physical therapy care, workplace ergonomics solutions and serves as a comprehensive practice management organization, providing non-clinical administrative support services to physical therapists across 16 states in the western and central portions of the U.S. PRN is known for its leading, value-driven practice management services and innovative, outcomes-driven physical therapy care.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
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