PHOENIX Rehabilitation and Health Services, Inc. Enters into New Management Partnership with Audax Private Equity

BLAIRSVILLE, Pa., Dec. 13, 2018 /PRNewswire/ -- PHOENIX Rehabilitation and Health Services, Inc. ("PHOENIX"), a well-respected provider within the physical rehabilitation industry, announces Audax Private Equity ("Audax") has acquired the Company from private equity firm, 3 Rivers Capital.  With offices in Boston, New York, and San Francisco, Audax Group is an alternative asset management firm specializing in investments in middle-market companies. Learn more about PHOENIX at phoenixrehab.com.

David D. Watson, CEO of PHOENIX, said, "Audax's extensive resources and expertise partnering with leading healthcare services companies will help us provide an excellent experience to more patients, therapists, and employees. We are excited to work with Audax as we enter our next stage of growth."

Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, "PHOENIX's best in class culture and focus on patient and therapist satisfaction has earned an outstanding reputation in the physical therapy market. We look forward to partnering with David Watson and the PHOENIX team and expanding the Company's presence through de Novos and acquisitions."  

About PHOENIX

Founded in 1997 and headquartered in Blairsville, PA, PHOENIX is a privately held community of out-patient rehabilitation centers with over 80 locations throughout the Mid-Atlantic and Southeastern US (AL, DE, GA, MD, PA, SC, VA, and the District of Columbia).  Guided by the culture of fundamentals entitled The PHOENIX Way, PHOENIX is committed to providing the highest quality and value-based care for physical and occupational therapies.  In addition to rehabilitation services, the WorkPlace Health (WPH) division operates in several PA counties offering non-emergency injury care and injury case management, as well as, occupational health services such as drug screens, audiometric testing, DOT and non-DOT physicals. Visit phoenixrehab.com to find a location near you or call toll free 888-644-7747 for more information  Stay connected with PHOENIX via Facebook PHOENIXRehab, LinkedIn, Twitter @PHOENIXRehab1, Instagram @phoenixrehabilitation, and YouTube PHOENIXRehab1997.

ABOUT AUDAX PRIVATE EQUITY

Since its founding in 1999, Audax focuses on building leading middle-market companies. Audax has invested $5 billion in 119 platform and 724 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Group is an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and San Francisco, Audax Group has over $13 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website, www.audaxgroup.com.

Media Contact:
Shelly Nippes
Vice President of Marketing and Sales
[email protected]
(724) 343-4060 ext. 147 or (724) 762-8862

SOURCE PHOENIX Rehabilitation and Health Services, Inc.