When New Harbor was first introduced to the company in late 2012, PT Solutions was quickly growing into a regional leader in physical therapy. The founders had successfully built a business known for its therapist-centric model, quality of care, and unique partnership approach with hospitals. To further build on this success, PTS partnered with New Harbor to accelerate growth and solidify PTS as a market leader.
· Significantly expanded both clinical and satellite de-novo locations
· Expanded geographic coverage and points of service – currently operates over 100 points of service across 10 states
· Diversified hospital relationships
· Recruited new CFO and COO; enhanced organizational structure with key additions in IT, HR, sales and marketing and accounting
· Implemented new clinical and back-office IT systems to improve operations
· Completed four add-on acquisitions
· Built out strategic board of directors; added two independent directors to provide business, organizational, and industry insights
Through the strong partnership between New Harbor and PTS, the company has achieved rapid acceleration of an already impressive growth trajectory. PTS nearly doubled in size during the first year of our partnership and is poised for continued success. Management and New Harbor are focused on continuing to build the business through new clinic additions, additional hospital partnerships and strategic acquisitions.
“The New Harbor Capital Team has been a solid partner both in the current ownership period and even prior. Tom, Ed, Jocelyn, and John have been impactful on the company in a positive vain exactly as presented prior to the transaction. NHC has come alongside the original owners to assist in expanding our growth capabilities in accounting, finance, recruiting, retention, and development. At the same time, the NHC team has fostered professional growth in our management team to better leverage the talents necessary to now run a larger company. They are a transparent and effective leadership team that has meshed well with what was our pre transaction vision for the company.”