FYZICAL Acquires Two of Its Franchisees
December 23, 2019 / Investments
New Harbor Capital is pleased to announce that portfolio company FYZICAL, a leading franchisor and operator of physical rehabilitation centers specializing in balance therapy and wellness programs, has completed two add-on acquisitions.
The acquisitions expand FYZICAL’s corporate-owned footprint into the Carolinas. The expansion enables the FYZICAL corporate team to deploy various pilot initiatives in more marketplaces, thereby providing its franchise community with additional evidenced best practices for success.
“We are excited to welcome these five clinics into the corporate-owned network,” said Chris Mulvey, President of FYZICAL Company Clinics. “We will continue to invest in FYZICAL with a commitment to creating Centers of Excellence throughout the country for franchisees to leverage as examples of best practices. This strategy is a benefit of being a part of a franchise organization,” he added.
New Harbor Capital completed a majority equity investment in FYZICAL in 2018, attracted to its unique model, market leading position, and ability to deliver a model of coordinated care at a national level.
John Pircon, Principal at New Harbor Capital, notes, “These acquisitions represent FYZICAL’s fourth and fifth since New Harbor’s investment and are a great example of management creating a five-year plan and seeing it through.”