Healthcare Staffing Report: Feb. 10, 2022

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Private equity firm invests in Therapy Partner Solutions

Private equity firm Lee Equity Partners LLC announced an investment in Therapy Partner Solutions, a Jacksonville, Florida-based firm that operates as the parent organization for five individual companies in the therapy space. One of the companies is InSearch Medical, a Rome, Georgia-based healthcare staffing firm focused on therapy staffing across the US.

Terms of the transaction were not announced.

Co-founder and CEO Steve Chenoweth will continue to lead Therapy Partner Solutions. In addition, the entire senior management team will remain, and existing investor Walnut Grove Capital Partners retained an equity investment in the business.

“Since our founding, TPS has been focused on partnering with entrepreneurial physical therapists and giving them the resources to provide top quality care to patients,” Chenoweth said. “We are excited to partner with Lee Equity to continue our growth and improve our offerings to therapists, patients and our communities.”

Other Therapy Partner Solutions companies include Advance Rehabilitation Management Group, Therapy Partner Private Practice Solutions, Business & Clinical Management Services Inc. and Medical Billing Center LLC.