Partnership with Greenbrier Valley Physical Therapy expands presence in Western Virginia and Virginia
On December 31, 2020, H2 Health, an outpatient rehabilitation company, closed three transactions positioning the company for significant growth and substantially strengthening its strategic networks in Southwestern Virginia, West Virginia, and Pennsylvania. Specifically, H2 closed a merger agreement with Greenbrier Valley Physical Therapy, an operator of 11 physical therapy clinics, and third-party rehabilitation management; the acquisition of Good Physical Therapy, a clinical provider with two locations in central Pennsylvania; and the closing of a $27.5 million credit facility with BMO Harris Bank’s Sponsor Finance team, to assist with working capital management and strategic growth.
“The closing of these transactions positions H2 as the largest provider of therapy services throughout the Blue Ridge and adjacent regions. We will now operate 27 locations in this market ensuring clinical excellence for all patients and communities,” said Guy Sansone, Co-Founder, Chairman and CEO of H2 Health. Mr. Sansone continued, “The credit facility with BMO Sponsor Finance, strengthens H2’s balance sheet and provides strategic growth capital.
Concentrated market expansion
In business for over 25 years, Greenbrier Valley Physical Therapy is recognized as the preeminent provider of orthopedic, spine, sports, neurological and work-related injury care throughout the Valley region of West Virginia. “In choosing to partner with H2 Health, 2 Greenbrier Valley envisions working with an organization that has a tremendous culture similar to ours and who is committed to advances in delivery and technology to enhance the patient experience throughout our communities. Merging with H2 will improve patient access well beyond our current footprint,” said Kevin Workman, CEO and Founder of Greenbrier Valley Physical Therapy.
The joining of Greenbrier Valley and Good Physical Therapy are integral additions as part of H2 Health’s commitment to expanding patient access and growing our network within the communities we serve. “We are excited to now have 27 locations within our Blue Ridge Mountain Region, and the Good PT acquisition increases our network to 16 locations along the I81 corridor in central and eastern Pennsylvania. Our experienced and award-winning clinicians within these markets bring a multitude of clinical specialties that ensures H2 can provide a broader and more comprehensive network coverage in these underserved markets” said Chris Adams, COO of H2 Health.
