Bruderman Brothers, Inc. Advises PHOENIX Rehabilitation on Recapitalization

NEW YORK, Nov. 20, 2013 /PRNewswire/ -- Bruderman Brothers, Inc. is pleased to announce the recapitalization of PHOENIX Rehabilitation ("PHOENIX"), an operator of 48 outpatient physical and occupational therapy centers in Pennsylvania.  Bruderman Brothers, as exclusive investment banker, structured, arranged, and negotiated the recapitalization, led by 3 Rivers Capital, a Pittsburgh-based private equity firm that focuses primarily on equity recapitalizations and buyouts.  F.N.B. Capital Corporation and First Commonwealth Bank provided debt financing for the transaction.

The PHOENIX transaction was the second transaction completed by Bruderman Brothers in the outpatient rehabilitation industry in October 2013. Matt Bruderman, Chairman of Bruderman Brothers, Inc., noted, "We are pleased to have completed another great transaction in this industry - which was our second physical therapy transaction in the month.  Our exceptional deal team, led by Ron Lehman, did an outstanding job on this deal, which further enhanced Bruderman Brothers' reputation as one of the premier investment banks operating in the healthcare sector.  We look forward to being a part of more successful transactions both inside and outside this dynamic industry."

"We are excited to be partnering with 3 Rivers Capital," commented David Watson, President and CEO of PHOENIX.  "We see tremendous opportunities on the horizon for our industry.  Our partnership with 3 Rivers Capital will position us to capitalize on these opportunities, while allowing us to maintain our focus on our core mission - providing the industry's highest quality outcomes of care to our patients.  Bruderman Brothers did an outstanding job and was instrumental in connecting PHOENIX with 3 Rivers Capital."

About PHOENIX

PHOENIX operates 48 outpatient physical and occupational therapy centers in Pennsylvania.  The company was founded in 1997 by David Watson and four other physical therapists to provide comprehensive rehabilitation and therapy services.

About Bruderman Brothers, Inc.

Bruderman Brothers, Inc. is a New York-based, privately-owned broker-dealer. The firm's business segments consist of investment banking, merchant banking, and consulting services. The firm is currently owned and operated by the third generation of the Bruderman family. The firm is registered with the U.S. Securities and Exchange Commission (SEC), and is a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

Contacts

Petar Cokleski 
Senior Associate
Bruderman Brothers, Inc.
917-310-2284
[email protected]

Matthew J. Bruderman 
Chairman
Bruderman Brothers, Inc.
212-244-1460

SOURCE Bruderman Brothers, Inc.