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Harris Williams Advises Ivy Rehab Physical Therapy on its Continuation Fund Transaction
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Harris Williams advised Ivy Rehab Physical Therapy on a continuation fund transaction, highlighting strong investor interest in outpatient rehabilitation services. Ivy, with over 450 clinics and $3.7 billion in capital commitments from Waud Capital Partners, has achieved over tenfold growth in revenue since 2016. The company focuses on exceptional patient care and aims for further expansion through organic and inorganic strategies. The leadership team, including CEO Michael Rucker, remains in place to support growth initiatives.
Positive
Ivy Rehab has expanded its clinics and revenue more than tenfold since 2016.
The company operates over 450 clinics including 100 pediatric therapy clinics.
Strong investor interest in the outpatient rehabilitation industry supports future growth.
“We continue to see strong investor interest in the outpatient physical rehabilitation services industry, especially for high-quality providers like Ivy,” said Andy Dixon, a managing director at Harris Williams. “We believe the company’s exceptional patient care, proven de novo and partnership models, and outstanding management team position it to capitalize on a number of attractive trends driving demand for outpatient rehabilitation services. It was a pleasure working with the Ivy team.”
“We look forward to watching Ivy continue its growth alongside Waud Capital Partners,” added Cheairs Porter, a managing director at Harris Williams.
Ivy is a leading provider of outpatient therapy services across the Northeast, Mid-Atlantic, Southeast, and Midwest regions of the United States through a rapidly growing network of more than 450 clinics that includes approximately 100 dedicated pediatric therapy clinics. Across its network of sites, Ivy offers a comprehensive set of therapy treatment options and specialized care programs and is dedicated to providing exceptional clinical care and the best patient experience. Ivy has grown its clinic base and revenue more than tenfold since Waud Capital Partners’ initial investment in 2016. The company has pursued growth organically by opening new locations and expanding service lines and inorganically through add-on acquisitions to build density in existing markets and to expand into new geographies. Ivy is led by CEO Michael Rucker, and he and the experienced executive leadership team recruited by Waud Capital Partners will remain with the company over its new investment horizon in an effort to pursue additional growth and industry leadership.
Waud Capital Partners is a growth-oriented private equity firm with total capital commitments of approximately $3.7 billion since its founding in 1993. Waud Capital Partners seeks to partner with strong management teams to build market-leading companies within two industries: healthcare services and software/technology. Since its founding, Waud Capital Partners has successfully completed more than 400 investments, including platform companies and follow-on opportunities.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co.Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co.Corporate Finance Advisors GmbH conduct business.
