Confluent Health Acquires Majority Stake in MOTION PT Group from Pharos Capital

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.

Confluent Health Adds Commonwealth Hand & Physical Therapy

October 14, 2025

Healthcare Services

Confluent Health announced a partnership with Commonwealth Hand & Physical Therapy, a Kentucky-based practice operating six clinics, which will join Confluent's national musculoskeletal care network while retaining its local brand. The deal expands Confluent Health's footprint and gives Commonwealth access to Confluent's management services, clinician education, and practice enablement resources.

Health In Motion Acquires Spooner and Hayward Physical Therapy & Wellness

November 11, 2024

Healthcare Services

Health In Motion, a member of the Confluent Health family, has acquired Spooner and Hayward Physical Therapy & Wellness, a therapist-owned outpatient physical therapy practice with locations in Spooner and Hayward, Wisconsin. The deal expands Health In Motion's regional footprint to 11 clinics across Wisconsin and Pennsylvania and gives SHPT access to Confluent Health's management services, clinical education, and hybrid care platform.

Preferred Physical Therapy Acquires Elite Sports Medicine & Physical Therapy

October 14, 2024

Healthcare Services

Preferred Physical Therapy (part of the Advanced and Preferred Physical Therapy family within Confluent Health) has acquired Elite Sports Medicine & Physical Therapy, a therapist‑owned outpatient clinic in Leawood, Kansas. The deal expands Preferred/Advanced Physical Therapy’s footprint in Kansas and Missouri and gives Elite access to Confluent Health’s management services and clinical resources.

Lifepoint Health Acquires Majority Ownership Interest in Springstone

February 7, 2023

Healthcare Services

Lifepoint Health completed its acquisition of a majority ownership interest in Springstone’s operating company, bringing 18 behavioral health hospitals and 35 outpatient locations across nine states into Lifepoint’s network. Medical Properties Trust (MPT) will continue to own a majority of Springstone’s real estate and retain a minority stake in the operating company.

Partners Group Acquires Confluent Health from The Edgewater Funds

July 24, 2019

Healthcare Services

Partners Group has acquired Confluent Health from The Edgewater Funds. Confluent, headquartered in Louisville, Kentucky, operates approximately 200 outpatient physical therapy clinics and provides occupational health & safety services and education programs, employing over 2,000 therapists and office professionals. The transaction transfers Edgewater's equity stake to Partners Group, which will look to accelerate growth across Confluent's multi-segment care platform.