Houston firm purchases 70 percent of ProCare
A strategic partnership with Houston-based U.S. Physical Therapy will enable ProCare Physical Therapy to grow and prosper.
Under the partnership announced Wednesday, U.S. Physical Therapy, the nation’s third largest provider of physical therapy services, has purchased 70 percent of the ownership of Hollidaysburg-based ProCare in a multimillion dollar transaction, said Altoona native Chris Reading, president and CEO of U.S. Physical Therapy.
ProCare owns and operates 10 clinics in the central Pennsylvania region in Blair, Bedford, Centre, Huntingdon and Clearfield counties.
“[Anyone who uses ProCare] will get the same great care that he has come to expect. It means ProCare has a partner that has a lot of funds and informational-based resources to be around for the long term. The care they will get will be done accurately and with integrity,” Reading said.
Reading said ProCare will likely expand with new facilities, programs and sports medicine activities. He said that would lead to more jobs.
He said other existing physical therapy practices may be bought and added to the ProCare family.
ProCare also will now have access to U.S. Physical Therapy’s proprietary Fit2Wrk program, an integrated model for the management, evaluation, treatment and prevention of musculoskeletal injuries in the workplace.
Using the Fit2Wrk program, the company now works with close to 5,000 employers nationally.
The partnership had its beginnings last summer when Reading, who was planning a trip to the area, called ProCare President Jim Foreman. The men got together and hit it off.
“I am a believer in divine intervention. Our meeting with Chris Reading and his company was not by chance. The common thing we had was the culture – the culture Chris and his team have in Houston. The culture and the fit are just good. Sometimes things feel right and they click. There was a lot of clicking throughout the process,” Foreman said.
Reading said his company is particular about its partners.
“Relationships are very important to us. We partner very selectively and we are excited about the opportunity that we have here in central Pennsylvania,” he said.