Phoenix Rehabilitation and Health Services, Inc.
F.N.B. Capital Partners, L.P. (“FNBCP”) partnered with the private equity firm, 3 Rivers Capital (“3RC”), to support their acquisition of PHOENIX Rehabilitation and Health Services, Inc. (“PHOENIX”). Founded in 1997, PHOENIX offers physical and occupational therapy services throughout Pennsylvania. The Company’s physical therapy services include sports rehabilitation, orthopedic rehabilitation, home health physical therapy, women’s health services, occupational health rehabilitation, wound care programs, and aquatic rehabilitation. More information can be found by visiting the Company’s website at www.phoenixrehab.com.
F.N.B. Capital Partners Announces
First Investment in Newly Formed SBIC Fund
Pittsburgh, PA – November 18, 2013 – FNBCP is pleased to announce the successful closing of the first mezzanine and equity investment for its new fund. This investment supported an acquisition by 3 Rivers Capital (“3RC”) and management team of PHOENIX Rehabilitation and Health Services, Inc. (“PHOENIX”).
“We are extremely excited to enter into this partnership with 3 Rivers Capital and PHOENIX,” noted Stephen Gurgovits, Jr., Managing Partner of F.N.B. Capital Partners, L.P. “Industry trends appear favorable for the physical therapy industry, and PHOENIX has a great market presence and reputation in our region. The PHOENIX management team has created a working environment which permits physical therapists to focus on creating good outcomes for patients and thrive in an entrepreneurial environment.”
Founded in 2005, 3RC is a Pittsburgh-based private equity firm which focuses primarily on equity recapitalizations and buyouts of privately held companies. “We are very excited to have F.N.B. Capital partner with us to support our investment in PHOENIX,” said Bob McGuire, a partner at 3RC. “Their investment and strategic support will further strengthen our ability to help PHOENIX capitalize on the numerous growth opportunities in the outpatient physical therapy market.”