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Physical Therapy
Physical therapy, rehabilitation, and sports medicine
4 PE-owned brands|22 locations tracked
What PE Ownership Means for This Industry
3:1 vs 1:1 ratios
PE-owned PT chains have higher patient-to-therapist ratios
To maximize revenue, PE-backed physical therapy chains often require therapists to see 3-4 patients simultaneously, reducing quality of care and patient outcomes.
Source: APTA Research, 2023
PE-Owned Brands
Athletico Physical Therapy
PE-Owned
Owned by Bain Capital
Bain Capital-backed PT and sports medicine chain with 600+ clinics
7 locations tracked
ATI Physical Therapy
PE-Owned
Largest outpatient physical therapy provider with 900+ clinics
4 locations tracked
Upstream Rehabilitation
PE-Owned
PE-backed rehabilitation platform with 1,200+ clinics
4 locations tracked
US Physical Therapy
PE-Owned
Publicly traded PT company operating 650+ clinics across 40 states
7 locations tracked