Key Takeaways
- • York Capital Management's private equity arm, York Private Equity, has made a strategic growth investment in APT Healthcare, one of the largest outpatient physical therapy platforms in the Mid-Atlantic region, according to a Business Wire announcement.
- • Terms of the transaction were not disclosed.
- • APT Healthcare operates nearly 60 clinics across Maryland, Virginia and Washington, D.C., spanning seven markets, and was founded in 2002.
- • The deal is the third platform investment completed in the last twelve months and the fifth overall for York Special Opportunities Fund III, L.P., an $800 million fund raised in April 2020.
- • APT's co-founders will remain active in the company and serve on the Board of Directors, with capital earmarked for organic growth and M&A.
Summary
York Private Equity, the private investing arm of York Capital Management, has made a strategic growth investment in APT Healthcare, a Mid-Atlantic outpatient physical therapy provider, the companies announced via Business Wire. Terms of the transaction were not disclosed. The investment is intended to support both organic expansion within APT's existing footprint and M&A-driven growth, including plans to broaden service offerings and enter new geographies.
APT Healthcare, founded in 2002, operates through a portfolio of brands and has grown to nearly 60 clinics in Maryland, Virginia and Washington, D.C., across seven markets including Northern Virginia, Richmond and Tidewater. CEO and board member Eric Nass said the company looks to strengthen its infrastructure and accelerate growth, while COO Brian Hoy said the partnership would allow the company to deliver superior patient care to more communities.
Seth Pearson, Managing Director at York Private Equity, said the investment aligns with the firm's goal of backing healthcare businesses that deliver superior clinical outcomes while reducing systemic costs, and backing founders and management teams to enter new service lines and geographies. APT's co-founders will remain active in the company and serve on the Board of Directors.
The transaction is the third platform investment completed in the last twelve months and the fifth since inception for York Special Opportunities Fund III, L.P., a $800 million middle-market fund raised in April 2020. York Private Equity, which has 14 dedicated team members and has completed over 50 investments since 2008 with aggregate transaction value exceeding $4 billion, targets control investments in healthcare services, financial services, business services, consumer/retail and industrials.
Advisors on the deal included Coker Capital, a division of Fifth Third Securities, Inc., as sell-side investment banking advisor to APT Healthcare; Jefferies as buy-side advisor to York Private Equity; and Onex Falcon, which provided debt financing for the transaction.
APT Healthcare, founded in 2002, operates through a portfolio of brands and has grown to nearly 60 clinics in Maryland, Virginia and Washington, D.C., across seven markets including Northern Virginia, Richmond and Tidewater. CEO and board member Eric Nass said the company looks to strengthen its infrastructure and accelerate growth, while COO Brian Hoy said the partnership would allow the company to deliver superior patient care to more communities.
Seth Pearson, Managing Director at York Private Equity, said the investment aligns with the firm's goal of backing healthcare businesses that deliver superior clinical outcomes while reducing systemic costs, and backing founders and management teams to enter new service lines and geographies. APT's co-founders will remain active in the company and serve on the Board of Directors.
The transaction is the third platform investment completed in the last twelve months and the fifth since inception for York Special Opportunities Fund III, L.P., a $800 million middle-market fund raised in April 2020. York Private Equity, which has 14 dedicated team members and has completed over 50 investments since 2008 with aggregate transaction value exceeding $4 billion, targets control investments in healthcare services, financial services, business services, consumer/retail and industrials.
Advisors on the deal included Coker Capital, a division of Fifth Third Securities, Inc., as sell-side investment banking advisor to APT Healthcare; Jefferies as buy-side advisor to York Private Equity; and Onex Falcon, which provided debt financing for the transaction.
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