Nolan Advised Elite Physical Therapy on its Sale to CORA Physical Therapy

DATE: March 13, 2019

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Who is Our Client?

  • Elite Physical Therapy (PT) is an independent physical therapy business operating clinics throughout the St. Louis Metropolitan area.
  • Elite offers a standard array of general physical therapy rehabilitation services along with additional specialties in concussion/vestibular, running and golf therapies.

Why Did Elite Physical Therapy Hire Nolan?

  • The two owners of Elite reached an inflection point. Each had different goals; one owner sought 100% exit, while the other sought a partner to grow Elite throughout the Midwest.
  • Faced with these differing goals, Nolan crafted a process that not only maximized value for the exiting shareholder, but also presented the optimal partner for Elite’s growth goals.

 What Value Did Nolan Deliver?

  • Nolan’s sale process delivered CORA Physical Therapy, an outpatient rehabilitation company with more than 160 clinics in Florida, Georgia, North Carolina, South Carolina, Virginia, Tennessee, Kentucky, and Missouri.
  • CORA is a portfolio company of Gryphon Investors, a leading middle-market private equity firm based in San Francisco.
  • Elite will allow CORA to expand their reach geographically to Missouri and westward.

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