BGF Invests £8.25m in Primary Care Physio

U.S. Physical Therapy Acquires 50% Stake in Eight-Clinic Physical Therapy Management Company

January 5, 2026

Healthcare Services

U.S. Physical Therapy, Inc. (USPH) acquired a 50% interest in an unnamed physical therapy management services company that manages an eight-clinic practice generating approximately $8.0 million in annual revenue and 66,000 visits per year. The current owners retained the remaining 50% ownership; financial terms were not disclosed. The deal expands USPH's outpatient clinic footprint and service offerings through a partnership with the local owners.

U.S. Physical Therapy Acquires 80% Stake in Two-Clinic Physical Therapy Practice

October 3, 2022

Healthcare Services

U.S. Physical Therapy, Inc. acquired an 80% equity interest in an undisclosed two-clinic physical therapy practice for approximately $4.2 million (including a $250,000 note payable to the sellers). The practice—whose owners retain a 20% stake—generates more than $2.5 million in annual revenue and about 17,000 patient visits per year; U.S. Physical Therapy said the deal will help grow and scale the business as part of its clinic network expansion.

BPOC Invests in Alliance Physical Therapy Partners

December 22, 2021

Healthcare Services

BPOC, a Chicago-based healthcare-focused private equity firm, has made a strategic growth investment in Alliance Physical Therapy Partners, a national operator of outpatient physical therapy clinics. Alliance operates 90+ clinics across 14 states with 450+ licensed clinicians and will partner with BPOC and management to accelerate network growth and expand services; financial terms were not disclosed.

Blue Venture Fund Makes Strategic Growth Investment in Bluestone Physician Services

August 2, 2021

Healthcare Services

Bluestone Physician Services, a portfolio company of WindRose Health Investors, received a strategic growth investment from the Blue Venture Fund to support scaling its integrated, home- and residential-based primary care and care coordination model. The investment is intended to leverage BVF's deep payor relationships and value-based care expertise to expand Bluestone's reach and capabilities serving high-risk, chronically ill geriatric and disabled patients.

U.S. Physical Therapy Acquires Majority Stake in Eight-Clinic Physical Therapy Practice

July 1, 2021

Healthcare Services

U.S. Physical Therapy, Inc. acquired a 65% equity interest in an eight-clinic physical therapy practice for $10.3 million; the practice's founder and owners retained the remaining 35%. The business generates more than $7.3 million in annual revenue and approximately 65,000 patient visits per year, and the acquisition expands USPH's outpatient clinic footprint and scale.

BGF Invests in Bayfields Opticians and Audiologists

March 1, 2020

Healthcare Services

BGF has made a growth capital investment in Bayfields Opticians and Audiologists to support the group’s organic expansion, roll‑out of audiology services and an acquisition strategy to double sites over the next four years. The deal completed in March and BGF will act as a long‑term investment partner to founder Royston Bayfield and the existing management team.