Representatives from HealthPRO Rehabilitation and Heritage Healthcare announced today that the two companies have merged.
The combined company provides contract therapy, in house therapy management, staffing, compliance and reimbursement consulting services at more than 400 skilled nursing facilities, continuing care retirement, assisted and independent living communities, hospitals, and schools. The combination creates one of the largest independent therapy providers in the profession employing in excess of 4,000 associates delivering care in twenty-two (22) states. The merger enables the combined company to expand services, while creating economies of scale that improve strategic market position. The companies share a common vision of resident-centered care, clinical excellence, ethical business practices, strategic customer partnerships, and strong employee relations. Their complementary geographic concentration creates a powerful presence throughout the East Coast, Midwest, and Southwest regions. HealthPRO’s CEO John Heller will remain CEO while Heritage’s President Paul Shaw will become President of the combined entity. The Company will retain offices in Greenville, SC, Baltimore, MD, Cleveland, OH, and Chicago, IL.
HealthPRO®, most commonly known for its industry-leading in house management model and diversified services spanning the continuum from acute care through senior living and school-based pediatric settings, was originally founded in 1997. “Bringing the two companies together allows us to capitalize on our strengths and ultimately create a stronger company that is the premier provider in the therapy space,” said CEO John Heller. “The therapy profession is somewhat fragmented with many of the larger players being owned by skilled nursing chains. Customers of both companies appreciate our compliance expertise and ability to offer true strategic partnership that is not distracted by competing assets.”
Heritage Healthcare was founded in 1999 by Paul Shaw and Al Eads with the goal of providing ‘Compassionate Care’ and is currently a leading force in the post-acute therapy market with a particularly strong Southeast presence. CEO Paul Shaw said, “Heritage and HealthPRO® have the same kind of excellence in our respective markets, despite a very tough environment.
Over the years, we’ve developed a mutual respect for one another’s businesses and felt combining them was a great strategic move. Our focus will continue to be on delivering compassionate care to the residents we have the privilege of serving each and every day while setting the standard of care in our industry.”
The combined entity is both management owned and private equity sponsored.
For more information about this exciting news, contact Al Eads, Executive Vice President, 877 508 3237, ext 112.
Click here to view the original November 1, 2013 Press Release