Pharos Capital Sells Majority Stake in MOTION PT Group
Feb 14, 2023, 07:05 ET
DALLAS and NASHVILLE, Tenn., Feb. 14, 2023 /PRNewswire/ -- Pharos Capital Group, LLC, a middle-market private equity firm based in Dallas and Nashville, announced today it has sold its majority stake in portfolio company MOTION PT Group ("MOTION") to Confluent Health. MOTION is a physical therapy, occupational therapy and speech therapy company with 59 clinic locations across Connecticut, Maryland, Massachusetts, and New York. Financial terms of the transaction were not disclosed.
Under Pharos's leadership, MOTION completed more than 25 acquisitions, expanded beyond its Brooklyn and Manhattan roots to new geographies, and developed hospital and health system relationships centered on the triple aims of expanded access to care, improved patient outcomes, and lowering the overall cost of healthcare. With Pharos's support, MOTION has been able to execute on strategic expansion while reinforcing its clinical culture of quality care dedicated to overall patient experience across its comprehensive array of rehabilitation and therapy services, all in the low-cost setting of outpatient physical therapy for the benefit of patients and payors.
Jim Phillips, Partner at Pharos, said, "We are pleased that Pharos's support allowed the company to address the pressing need for value-driven, tailored physical therapy services. MOTION's dedication to developing a comprehensive physical therapy service model is helping improve the quality of life for clients of all ages in a growing number of communities. We wish CEO Ed Miersch and the entire MOTION team continued success with their new investment partners."
Mr. Miersch commented, "Working with Pharos has been a rewarding experience for MOTION. Pharos's expertise in value-based healthcare services, along with their financial resources, has allowed us to exceed our growth objectives while maintaining our focus on patients. Through our combined efforts, we believe we have laid the groundwork for a successful future with our new strategic partners."
About MOTION PT Group
MOTION PT Group (MOTION) is a physical therapy practice group with outpatient locations in Connecticut, Maryland, Massachusetts, and New York. MOTION positively impacts patients' lives by delivering the best care and results through proven research, innovative treatments and technologies. For more information, visit motionptg.com.
About Pharos Capital Group
Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) is a physician-founded investment firm focused on growing healthcare companies that aim to lower the total cost of care, improve patient outcomes and expand access to care in underserved markets. Since inception, Pharos has invested in 58 companies and has over $1.1 billion of private equity assets under management as of December 31, 2022. Pharos typically invests $25-$50 million in rapidly growing middle market companies seeking later stage funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations, predominantly across healthcare sectors.
For business development opportunities with Pharos Capital Group, please contact Adam Persiani at 214-740-7003 or [email protected].
SOURCE Pharos Capital Group
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