ATI Physical Therapy Closes Business Combination and Will Begin Trading on the New York Stock Exchange
Summary
The transaction, which was approved on June 15, 2021 by FVAC IIs shareholders, further positions ATI to lead the rapidly growing physical therapy industry, with an emphasis on delivering predictable outcomes for patients with musculoskeletal (MSK) issues. "We are thrilled to be a part of ATIs next phase of growth and innovation as the clear leader in a $22 billion outpatient physical therapy market," said Fortress Managing Partner Drew McKnight. In partnership with Advent, ATIs technology and operational investments have enabled the Company to grow its clinic footprint by 50 percent while consistently putting patient care first and further enhancing its clinician-centric culture. ATIs highly experienced management team, led by CEO Labeed Diab, CFO Joe Jordan and COO Ray Wahl, will continue to lead the business. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.