Water Street Healthcare Partners, a private equity firm focused
exclusively on the healthcare industry, and Wind Point Partners,
both based in Chicago, Illinois, announced June 28 that a deal to
merge Physiotherapy Associates, Memphis, Tennessee, and Benchmark
Medical, Malvern, Pennsylvania, has been finalized. Water Street
recently acquired Physiotherapy Associates from Stryker
Corporation, Kalamazoo, Michigan, in a $150 million deal. The deal
is intended to create a national leader in outpatient
rehabilitation services.
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