Who owns Select Physical Therapy? This question is often asked by individuals seeking high-quality physical therapy services. Select Physical Therapy, a leading provider of physical therapy and rehabilitation services, has a complex ownership structure that includes a mix of private equity firms, healthcare professionals, and other investors. Understanding the ownership of Select Physical Therapy is crucial for patients, healthcare providers, and stakeholders in the industry to gain insights into its operations and future direction.
Select Physical Therapy was founded in 1990 by Dr. Michael J. McGovern, a renowned physical therapist. Initially, the company was a small, family-owned business focused on providing personalized care to patients. Over the years, Select Physical Therapy expanded its operations and became a well-known name in the physical therapy industry. In 2007, Select Physical Therapy was acquired by private equity firm Welsh, Carson, Anderson & Stowe (WCAS), which played a significant role in its growth and development.
WCAS, a leading private equity firm specializing in healthcare, has a significant stake in Select Physical Therapy. The firm has a history of investing in and growing healthcare companies, which has helped Select Physical Therapy to expand its network of clinics and enhance its services. Under WCAS’s ownership, Select Physical Therapy has acquired several other physical therapy companies, further solidifying its position as a market leader.
In addition to WCAS, other healthcare professionals and investors also have a stake in Select Physical Therapy. These individuals include Dr. McGovern, who remains an active member of the company’s board of directors, and other key executives. Their involvement in the company’s decision-making process ensures that the interests of patients and healthcare providers are well-represented.
The ownership structure of Select Physical Therapy has several implications for the company and its stakeholders. Firstly, the involvement of private equity firms like WCAS has provided the necessary capital and strategic guidance to fuel the company’s growth. This has allowed Select Physical Therapy to invest in new technologies, expand its clinical capabilities, and improve patient outcomes.
Secondly, the presence of healthcare professionals and other investors on the company’s board of directors ensures that the company remains focused on its core mission of providing exceptional physical therapy services. This balance between financial and clinical interests helps to maintain the high standards of care that Select Physical Therapy is known for.
Lastly, the ownership structure of Select Physical Therapy has also enabled the company to engage in strategic partnerships and collaborations with other healthcare providers. These partnerships have allowed Select Physical Therapy to offer a more comprehensive range of services, including occupational therapy, speech therapy, and sports medicine, thereby enhancing its value proposition to patients and healthcare providers alike.
In conclusion, the ownership of Select Physical Therapy is a complex mix of private equity firms, healthcare professionals, and other investors. This diverse ownership structure has played a crucial role in the company’s growth and success, ensuring that it remains a leader in the physical therapy industry. As the company continues to evolve, its ownership will undoubtedly play a significant role in shaping its future direction and the quality of care it provides to patients.
