Premier Orthopedics & Work Rehabilitation, a private and therapist-owned physical therapy practice, has been acquired by Confluent Health LLC.
The acquisition by Pappas OPT, part of Confluent, will give POWR access to the Confluent materials Pappas OPT already had access to. It similarly places Pappas OPT clinic footprint to 20 clinics across Rhode Island, the state’s largest provider of physical therapy services.
POWR employs four people.
Confluent also acquired two other practices, continuing its growth trajectory in 2022. One was Physical Therapy Specialists of Beverly Hills, and the other was IncreMedical Therapy Solutions, a practice with locations in Indiana, Georgia and Wyoming.
The recent growth brings the company’s presence to 44 partner companies with 514 clinic locations across 28 states. Confluent declined to share financial information for any of the transactions.
Confluent CEO Dr. Larry Benz refers to its acquisitions as “partnerships” because the physical therapy practice maintains its name and a share of ownership. Confluent provides back-office services for physical therapy offices, including finance, compliance, payroll and the like.
Confluent’s services expanded coast to coast at the end of 2021. It completed 15 acquisitions in that year.
Confluent declined to share its total revenue. The company is also expanding in Louisville. It announced earlier this year that it was moving its headquarters to accommodate growth. It’s adding 350 full time jobs in a $10 million investment.
Read full article here: https://www.bizjournals.com/rhodeisland/news/2022/03/18/rhode-island-physical-therapy-practice-acquired-by.html
