BOLINGBROOK, Ill., Dec. 13, 2016 /PRNewswire/ -- ATI Physical Therapy, a leading outpatient physical therapy provider in the United States, announced today that it has agreed to issue a $55 million add-on to the Company's existing first lien term loan due 2023. The add-on will be fungible with the existing first lien term loan. Proceeds from the financing will be used primarily to repay revolving credit facility borrowings that were incurred to finance various acquisitions in 2016 and also to finance fees and expenses related to the financing.
Based in Bolingbrook, Illinois, ATI is a privately held, nationally-recognized physical therapy organization with more than 650 locations in 25 states. Named "Best Physical Therapy Practice in the Nation" by ADVANCE magazine, ATI is one of the first physical therapy companies in the country to achieve URAC Core Accreditation, a mark of distinction that recognizes ATI's commitment to quality healthcare. To give back to the local communities where ATI patients and staff work and live, ATI established the ATI Foundation, a non-profit organization benefiting children in need of resources and funding due to medical complications and physical impairments.