Do I need a local advisor to sell my physical therapy practice?
No. The acquirers buying PT businesses are regional and national platforms, so what matters is an advisor who knows them and knows your market, not one down the street. MHA advises PT business owners in every state from our headquarters in Marlton, New Jersey, travels to your clinics when the work needs to be in person, and tracks PT-specific market data state by state. Our publicly announced transactions alone span 14 states, from Washington to Georgia.
By Paul Martin, Founder & President. Updated .
We work in every state. Here is where we have closed transactions.
These are the transactions our clients chose to announce publicly: 23 of MHA's 200+, across 14 states. Most transactions close confidentially, so the full map is wider than this one.
| Region | States | Announced MHA transactions | Acquirers |
|---|---|---|---|
| Northeast | New York, New Jersey, Pennsylvania, Massachusetts | Performance Rehabilitation, ProFitness Physical Therapy, NY Physical Therapy & Wellness, Sports PT of NY, MOST Physical Therapy, Wayne Physical Therapy & Spine Center, S.O.A.R., Strive Physical Therapy, Northeast PT Associates, Penn Therapy Associates, Sosar Physical Therapy, Mass Sport & Spine | JAG Physical Therapy, JAG-ONE Physical Therapy, Ivy Rehab, MVPT Physical Therapy, Strive Physical Therapy (Confluent Health), Confluent Health, Bay State Physical Therapy |
| Mid-Atlantic and Southeast | Virginia, North Carolina, Georgia | Loudoun Physical Therapy, Rapid Rehabilitation, Physical Therapy for Women, Therapeutic Solutions | PT Solutions Physical Therapy, Upstream Rehabilitation, BreakThrough Physical Therapy (Confluent Health), HPRC (Confluent Health) |
| South and Southwest | Texas, Louisiana | Athens Physical Therapy & Wellness, Spectrum Therapy Consultants, Tri-State Physical Therapy | H2 Health, Empower Physical Therapy, Elite Physical Therapy (Confluent Health) |
| Midwest | Wisconsin | Health In Motion Physical Therapy (Wisconsin and Pennsylvania) | Confluent Health |
| West | Washington, Idaho, Nevada, Utah | Oasis Physical Therapy & Sports Rehab, Peak Physical Therapy, FIT Physical Therapy | Upstream Rehabilitation, Confluent Health, Therapy Partners Group |
MHA has also closed confidential transactions in California and Florida. Those clients are never named.
See every announcement on the transactions page.
We come to you for what matters in person
Most of a transaction runs by video, phone and a secure data room, so it does not disrupt your clinics or tip off your staff. We travel to you for the parts that are better face to face.
- Seeing your business. Walking your clinics and meeting your leadership team, so we can describe your business to acquirers the way it actually runs.
- Meeting acquirers. Management meetings and site visits with the acquirers who make it to the final round.
- Closing. Being there for the decisions that set your terms, your role after closing and what happens for your staff.
PT-specific data for every state
Acquirers price a PT business differently from one market to the next. Before you go to market, we look at yours the way they will.
- Who is buying. Which acquirers are active in your state and region, and what they are looking for.
- Payer mix and reimbursement. How your mix of commercial, Medicare and workers' compensation compares, and where reimbursement pressure sits in your market.
- Staffing. The therapist labor market around your clinics, which acquirers weigh heavily.
- Recent transactions. What has traded near you and on what terms, alongside the valuation multiples from 40 MHA transactions.
That is what an Outside-In Assessment gives you: how the market would value your business today, wherever it is.
Questions PT business owners ask
Does MHA work with PT practices outside New Jersey?
Yes. MHA advises PT business owners in every state. Our headquarters is in Marlton, New Jersey, and our publicly announced transactions span 14 states: New York, New Jersey, Pennsylvania, Massachusetts, Virginia, North Carolina, Georgia, Texas, Louisiana, Wisconsin, Washington, Idaho, Nevada and Utah.
Will someone from MHA visit my clinics?
Yes, when the work needs it: seeing your clinics, meeting your leadership team, and management meetings with acquirers. The rest runs by video, phone and a secure data room so it does not disrupt your clinics.
Do I need an M&A advisor in my state to sell my PT practice?
No. The acquirers are regional and national platforms, so an advisor who knows them and your market matters more than one nearby. You should still have a healthcare transaction attorney who knows your state's rules.
Which acquirers are buying PT practices in my state?
It changes by market and by year. Recent MHA transactions closed with Confluent Health and its member brands, JAG Physical Therapy, Upstream Rehabilitation, Ivy Rehab, PT Solutions, H2 Health and others. In a confidential call we can tell you which are active where you are.
Does it matter that my clinics are in a smaller market?
Not to whether you can transition. It affects which acquirers are interested and how they price your business, which is why we look at your specific market before you go out.
More guides: Who to hire · Private equity · Prepare for sale · Valuation multiples
