Headquartered in Birmingham, Alabama, the company operated more than 865 owned and managed locations across 28 states prior to the acquisition. Sterling and Results were represented by Houlihan Lokey, McGuire Woods, and Katten Muchin Rosenman.Īs part of Upstream, Results has the ability to further expand its network of clinics across the country and grow through same store sales and de novo growth, as well as acquisitions and joint ventures.Ībout Upstream Rehabilitation:Founded in 2004, Upstream Rehabilitation is a portfolio company of Revelstoke Capital Partners and is the leading pure-play outpatient physical therapy services provider. The firm currently manages over $1.7 billion and has invested over $500 million dollars in the healthcare and life sciences sectors. Sterling has nearly four decades of experience building high-growth, healthcare organizations. Michael Martin, CEO of Results Physiotherapy, added, “With Sterling’s constant support, resources, industry expertise, and connections, we not only achieved our vision of growth with them, we’ve been set up to continue to successfully scale and expand with our new partner who brings additional strengths and capabilities to our patient base and corporate infrastructure.” The company also saw significant growth across multiple states. Because of that, we were able to guide the company to a successful partnership with Upstream, which has a proven track record of growth and success.”Īcquired by Sterling Partners in 2014, Sterling and Results invested in talent development at the management and board of directors level, developed a new hospital system joint venture, and developed reporting metrics and segments to illuminate business performance. “This is an industry and an organization we intimately understand. “It has been a privilege to be such an integral part of Results’ growth story over the last six years,” said Steven Taslitz, Co-Founder and Chairman at Sterling Partners. With this acquisition, Upstream is now the largest provider dedicated to world-class outpatient physical, occupational, and speech/language therapy. Upstream will now employ approximately 3,500 providers and more than 7,000 total associates in the outpatient physical therapy space. The Results portfolio, with more than 200 locations in 9 states, expands Upstream’s clinical footprint to more than 1,000 owned and managed clinics in 28 states providing over 5 million patient visits annually. CHICAGO-( BUSINESS WIRE)- Sterling Partners (“Sterling”), a diversified investment management platform, announced today that its portfolio company Results Physiotherapy (“Results”) has been acquired by Upstream Rehabilitation (“Upstream”).
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