One of my first jobs after graduating as a Physiotherapist was working in an occupational health clinic at a large car assembly plant in the United Kingdom. There were over 10,000 employees working at the assembly plant when I arrived, many having spent their entire working life employed by the company and at the same location.
BPOC Makes Strategic Investment in Alliance Physical Therapy Partners
Investment signals new phase of growth at Alliance as demand for physical therapy continues to increase
Dec 22, 2021, 07:00 ET
CHICAGO, Dec. 22, 2021 /PRNewswire/ — BPOC, one of the longest-tenured pure play healthcare investors, today announced a strategic investment in Alliance Physical Therapy Partners, LLC (“Alliance”), a leading provider of physical therapy services across the U.S.
Alliance is a national physical therapy operator offering outpatient physical therapy across a network of 90+ clinics in 14 states. In addition to traditional physical therapy, Alliance offers virtual physical therapy, a workplace therapy solution, in-hospital services, and a comprehensive electronic medical record platform. BPOC will partner with the existing management team, led by Richard Leaver, in order to execute on Alliance’s growth strategy and vision.
“We are incredibly excited to partner with BPOC as we enter our next stage of growth,” said Richard Leaver, CEO of Alliance. “Alliance was founded with the mission to become the leading physical therapy network in the country by delivering superior, quality and compassionate services to our patients. Together, we believe this partnership will allow for the continued expansion of high-quality patient services as we grow a community of exceptional physical therapy practices.”
“As the healthcare industry continues to shift towards value-based care, finding platforms designed to help patients avoid expensive procedures while improving clinical outcomes is critical,” said Troy Phillips, Partner at BPOC. “We have been extremely impressed with Alliance’s reputation for prioritizing patient experience and delivering excellent, cost-effective care. We look forward to partnering with the Alliance team and supporting the company’s growth strategies and long-term vision,” he added.
Alliance was represented in the transaction by the law firm of McGuire Woods. Cain Brothers served as exclusive financial advisor to Alliance in connection with the transaction. Kirkland & Ellis, LLP served as legal advisor to BPOC. Houlihan Lokey Capital, Inc. served as financial advisor to BPOC in connection with the transaction.
The transaction is effective immediately and financial terms were not disclosed.
Founded in 1996, BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation’s most experienced investors in the industry having raised five funds with total capital commitments of nearly $1.8 billion. BPOC has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations www.bpoc.com.
About Alliance Physical Therapy Partners
Alliance Physical Therapy Partners is a leading, national physical therapy operator with 14 distinct outpatient physical therapy brands comprising 90+ locations and a network of 450+ licensed clinicians. In addition to operating a network of outpatient clinics, Alliance partners with hospitals and various industries by providing white-labeled contracted therapy and on-site injury prevention services. Founded in 2017 and headquartered in Grand Rapids, Michigan,
Alliance Physical Therapy Partners is committed toward delivering quality and compassionate services for patients nationwide. For more information, visit allianceptp.com.
Over the course of my clinical career, I have experienced the transformation of healthcare delivery from one that has been primarily transactional in nature to one that strives to embrace the concept of consumerism and delivering not only a satisfactory clinical outcome but an exceptional patient experience.
Many years ago I worked in a physician office as a physical therapist. Each day, the medical practice would schedule patients at every fifteen minutes interval from 10 am onward for the physician. As in any physician office, upon the arrival of the patient, they would be escorted to a private treatment room and basic history and vital signs taken by a medical assistant.
Are You Waiting for the Bus?
Thought Leadership: From the CEO’s Desk – Richard Leaver, CEO
After working as a physical therapist for more than 20 years I have had the opportunity to work with a diverse workforce in numerous specialties and various environments, ranging from high security prisons to Conductive education schools. What I have slowly realized over this time is that the patient’s level of perceived satisfaction is not limited to such factors as the therapists’ level of professionalism, educational background, clinical experience or handling skills. In fact, I would suggest that these issues are not satisfiers at all, rather dissatisfiers. For instance, if a patient receives a treatment episode that consists of accurately applied manual therapy techniques and appropriate therapeutic exercises in a safe and pleasant environment, it does not mean that the patient was highly satisfied with their care, only that they were probably not dissatisfied.
I have come across many therapists who are extremely skilled in the art of mechanical diagnosis and treatment who are not widely known within either the medical arena or general public. Then there are a small number of therapists who achieve widespread recognition and acclaim but have average clinical skill. So, what do we need to give to our patients to make them truly satisfied with their physical therapy experience?
I would argue that the single most important variable that differentiates a good or great therapy encounter is the passion exhibited by the therapist. The most successful clinicians that I have encountered all exude a huge quantity of passion when engaged in the evaluation and treatment of patients. The patient is acutely aware of the verbal and nonverbal behavior of the therapist. A therapist who is disinterested in their treatment will promote a similar attitude from their patients. This can sometimes be reflected by the level of cancellations / no-shows of patients.
If the therapist does not have a passion for what they do for eight hours a day, five days a week, then what is the motivation to continue doing the same thing day in and day out? As is often quoted, ‘life is not a dress rehearsal’. Whilst nobody enjoys the mountains of paperwork and bureaucracy associated with most types of employment there must be a component of enjoyment associated with the primary tasks completed every day.
The key to success and the therapist’s happiness is enjoyment of the job. I challenge each therapist to develop or rediscover his or her passion. It may mean attending more training courses or developing skills in a different specialty. For others it may require a paradigm shift in our thoughts and attitude. Whatever it is, don’t wait to get on the bus, develop your passion!