Orion ICG buys therapy staffing company
October 03 2007
Orion ICG, a Raleigh NC-based staffing firm specializing in the placement of former military personnel, said it has acquired Cumberland Therapy Services Inc. of Lawrenceville NJ. Terms of the deal were not announced.
Cumberland provides physical therapists, occupational therapists and speech therapists to state and local government sites. It was founded in 1989 by A. Majeed Qasim, a licensed physical therapist. The company will still operate under the Cumberland brand.
The acquisition marks Orion's first purchase since it was acquired by private equity firm Centre Partners in June.
"The addition of Cumberland is an important step in the realization of our strategic growth plan and we are extremely pleased to have made our first acquisition so quickly after forming our relationship with Centre Partners," said Orion Executive Chairman Jeffrey Evans.
"Cumberland is part of our overall strategy to create additional avenues and opportunities for transitioning military health professionals," Evans said. He added that Orion is planning more acquisitions in the near future.
Orion has brought Fred Davis on board to lead Cumberland. Davis was formerly president of VITA Medical Staffing, a $25 million travel nurse staffing company.