NEW YORK--(BUSINESS WIRE)--APT Healthcare (the “Company”), one of the largest outpatient physical therapy (“PT”) platforms in the Mid-Atlantic, today announced a strategic growth investment from York Capital Management’s private equity group (“York Private Equity”). Terms of the transaction were not disclosed.
Founded in 2002, APT Healthcare provides PT services through its leading portfolio of brands. Since its founding, APT Healthcare has grown steadily and established a reputation as a leading, high-quality physical therapy provider in the Mid-Atlantic Region. The Company has expanded its presence into seven markets with nearly 60 clinics located in Maryland, Virginia and Washington, D.C.
“We are thrilled to have found the right partner in York Private Equity, as we continue to expand our business within our existing footprint, and look to broaden our service offerings and enter new geographies,” said Eric Nass, CEO and board member of APT Healthcare.
“Through collaboration with York Private Equity, a like-minded partner, we will be able to strengthen our infrastructure, accelerate our growth, and continue to positively impact more lives by delivering superior patient care to more communities,” said Brian Hoy, COO of APT Healthcare.
APT Healthcare’s Co-Founders will remain active in the Company and serve on the Board of Directors.
“APT Healthcare has significantly grown and expanded its geographical presence since its founding and under the direction of its current leadership team,” said Seth Pearson, Managing Director at York Private Equity. “Our investment in the Company aligns with our goal of backing healthcare businesses that create opportunities for superior clinical outcomes while reducing systemic costs, as well as backing founders and management teams to continue to drive value for their various stakeholders, enter new service lines and geographies, and execute on growth opportunities.”
APT Healthcare is the third platform investment completed in the last twelve months and the fifth since inception by York Capital’s latest middle-market private equity fund, York Special Opportunities Fund III, L.P., an $800 million dedicated fund raised in April 2020. York Private Equity seeks to partner with founders and entrepreneurs to help facilitate and support organic and inorganic growth in industries such as healthcare services, financial services, business services, consumer/retail, and industrials.
Coker Capital, a division of Fifth Third Securities, Inc. acted as the sell-side investment banking advisor to APT Healthcare. Onex Falcon provided debt financing for the transaction. Jefferies acted as the buyside investment banking advisor to York Private Equity.
About APT Healthcare
Founded in 2002, APT is a leading outpatient physical therapy group in the Mid-Atlantic region with nearly 60 locations in Maryland, Virginia and DC. The Company operates through its leading portfolio of brands and provides treatment throughout the state of Maryland, Washington, D.C and Virginia, including the Northern Virginia, Richmond and Tidewater markets. For more information please visit: https://www.APTHealthcare.com/
About York Private Equity
York Private Equity, the private investing arm of York Capital Management, primarily targets control investments in middle-market businesses. Since inception in 2008, York Private Equity’s middle-market strategy has completed over 50 investments with aggregate transaction value in excess of $4 billion. York Private Equity has 14 dedicated team members. For more information please visit: https://www.yorkcapitalpe.com.