Subject: TNM
Merger of Upstream Rehabilitation and Drayer Physical Therapy Institute creates the 4th largest outpatient physical therapy company in US
BIRMINGHAM, Ala., Jan. 11, 2018 /PRNewswire/ -- Birmingham based Upstream Rehabilitation has announced the recent merger with Hummelstown, PA based Drayer Physical Therapy Institute making this new entity the 4th largest provider of physical therapy services in the United States. Just prior to the Drayer merger, Upstream also announced the completion of four partnership acquisitions in Washington, Colorado, Oregon and Tennessee, expanding its portfolio of physical therapy businesses.
The combination of Upstream and Drayer will encompass a footprint of more than 560 owned and managed clinics in 27 states serving over 4 million patients annually. The combined organization will employ more than 5,000 associates.
"We evaluate many expansion opportunities every year looking for strategic partners that share our business philosophy and core values." said Dave Van Name, CEO of Upstream Rehabilitation. "Our merger with Drayer Physical Therapy Institute, in addition to our newest partnership acquisitions, provides a tremendous opportunity to combine the strength of these businesses, continue our growth, and advance our goal to become the provider and employer of choice in the industry."
"We are excited to join these two organizations. We share a likeminded approach to patient care, associate development and philanthropy," said Luke Drayer, Founder of Drayer Physical Therapy Institute. "We could not have asked for a better partner and I look forward to the opportunities this merger will provide to Drayer and our associates."
About Upstream Rehabilitation: headquartered in Birmingham, AL Upstream Rehabilitation is a privately held company and one of the nation's largest providers of physical therapy services with more than 400 owned and managed locations in 23 states prior to the merger.
About Drayer Physical Therapy Institute: headquartered in Hummelstown, PA, Drayer Physical Therapy Institute owns and operates more than 160 outpatient physical therapy clinics in the United States. Founded in 2002 with a single center in Bel Air, Maryland, Drayer quickly grew to deliver physical therapy services through an expanding network in 16 states.
For More Information:
Phil Christian, Senior VP Business Development, Upstream Rehabilitation
Email: [email protected]
Phone: 205-536-7604
SOURCE Upstream Rehabilitation
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