An affiliate of global alternative investment firm HIG Capital (HIG) is to acquire CORA Health Holdings Corp and its subsidiaries, doing business as CORA Physical Therapy (CORA), an operator of outpatient physical and occupational therapy clinics.

CORA’s management team, led by CEO Dennis Smith, will continue to run the Company and remain as shareholders in the business.

Headquartered in Charlotte, North Carolina, CORA currently operates 228 outpatient physical therapy clinics across nine US states, primarily in the Southeast. The Company’s 850+ physical therapists, physical therapy assistants and other clinicians offer best-in-class outpatient physical rehabilitation services for orthopaedic problems, work-related injuries, sports injuries and various neuromuscular and neurological conditions.

“I am proud of CORA’s success to date. Our accomplishments are primarily the result of the tireless efforts of our dedicated team members,” says Dennis Smith. “This transaction is a validation of our business model, which is based on serving every member of our communities and providing exceptional clinical outcomes. We appreciate the vote of confidence from HIG and look forward to our future growth opportunities.”

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Source: Private Equity Wire