Athletico Physical Therapy Enters Definitive Agreement to Acquire Pivot Health Solutions

Combined company will have almost 8,000 employees at more than 850 clinics in 21 states and the District of Columbia

Acquisition of leading physical therapy provider will significantly expand Athletico’s impact on patient care

OAK BROOK, IL, December 14, 2021—Athletico Physical Therapy announced today it has entered into a definitive agreement to acquire Pivot Health Solutions, a portfolio company of PennantPark and a premier provider of physical therapy, occupational health, and onsite corporate health services. Pivot Health Solutions has over 250 physical therapy clinics throughout the Eastern region, 12 occupational health locations in Maryland and Delaware, and over 150 onsite health clinics throughout the United States. With the addition of Pivot to its growing clinical network, Athletico will substantially increase patient access to high-quality care across a broader geographic footprint.

Founded in 2001, Pivot is one of the fastest growing physical and occupational therapy providers serving communities in Delaware, the District of Columbia, Maryland, North Carolina, Pennsylvania, Virginia, and West Virginia. Pivot offers patients individualized care through a full range of physical therapy services and specialty offerings to help them achieve their health goals. Together, the combined company will have almost 8,000 employees across more than 850 clinics located in 21 states and the District of Columbia.

Additionally, Pivot operates a direct to employer business unit, Onsite Innovations, that is unique and differentiated in the marketplace with its focus on prevention of employee injuries at an employer’s onsite location. Onsite Innovations currently treats nearly 500,000 employees a year at over 150 employer locations.

“Joining with Pivot brings two great companies together who complement each other well and will enable us to grow our impact by bringing the highest quality care to even more patients and communities,” said Ron Rodgers, CEO of Athletico. “The team at Pivot shares our dedication to delivering exceptional patient experiences, and they have done a tremendous job of developing meaningful relationships in the communities they serve. We are looking forward to working together to transform the lives of individuals throughout the Eastern region.”

“Athletico started with a single clinic in 1991. In a year that we are celebrating both our 30th anniversary and the opening of our 600th clinic, it’s incredible to see the opportunity to extend our patient care to the Eastern region,” said Mark Kaufman, Founder and Executive Chairman of Athletico. “Our passion as a company is pretty simple. We want to help our patients live healthy and pain-free lives and it’s clear that Pivot shares this passion. We look forward to welcoming Pivot to the Athletico family.”

“We are thrilled to join Athletico,” said Chris Throckmorton, CEO of Pivot Health Solutions. “Not only do our values and culture align, but so do our clinical and operational methods. Our partnership with Athletico allows for continued growth and success while maintaining our reputation and executing our mission of providing the highest level of care to our patients and the communities we serve. A special thanks to PennantPark for their support and commitment over the last two and a half years in helping to shape our success.”

The transaction is expected to close in the first quarter of 2022 and is subject to customary closing conditions and regulatory approvals.

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About Athletico Physical Therapy
Athletico Physical Therapy provides the highest quality orthopedic rehabilitation services to communities, employers and athletes in over 600 locations throughout 15 states with more than 5,000 employees. Athletico is committed to our patients and referring physicians through our patient-centric focus, positive work environment, attention to quality and high standard of care. Athletico measures patient outcomes and satisfaction and is dedicated to continuous improvement. Athletico was named #1 Workplace in Chicago, “Best Physical Therapy Practice in the Nation” by ADVANCE magazine, Top Workplace in the Nation and has been recognized as a leader in employee volunteering and charitable giving. Our services include physical and occupational/hand therapy, workers’ compensation, women’s health therapy, concussion management and athletic training. For more information, or to schedule a free assessment in clinic or now online with our virtual free assessments, visit www.athletico.com and follow us on Twitter at @athletico.

About Pivot Health Solutions
Pivot Health Solutions is the parent company to Pivot Physical Therapy, Pivot Occupational Health, and Pivot Onsite Innovations. It is one of the nation’s fastest growing physical therapy, occupational health, and onsite corporate health providers. Compassionately committed to health and wellness, Pivot’s family of brands is focused on getting people back to normal activity, preventing injury, and staying fit where they work, live, and play. For more information, visit www.pivoths.com.

Media Contact:

Athletico Physical Therapy:
Dana Andreoli
dana.andreoli@athletico.com
630-259-5156