Nashville, TN: (February 13, 2025) Bailey & Company announced today that it served as the exclusive financial advisor to OrthoCarolina, P.A. in the sale of its physical and occupational therapy division to PT Solutions, a portfolio company of General Atlantic. This strategic transaction expands PT Solutions’ footprint in the Carolinas and expands its partnership with Novant Health.
The acquisition includes 24 locations across metro Charlotte, Winston-Salem, Hickory, Shelby, and Boone, significantly enhancing PT Solutions’ presence in North and South Carolina.
“This divestiture allows OrthoCarolina to focus on our core competency of orthopedic surgery and musculoskeletal care while enhancing patient access and care from our specialized therapy providers,” said Dr. Leo Spector, MD, MBA, CEO of OrthoCarolina. “We are confident that this strategic move will ultimately benefit our patients and allow us to continue to deliver exceptional care to the communities we serve.”
PT Solutions, already a national physical therapy provider, will now have an established presence in Charlotte and other key cities in the Carolinas. This acquisition aligns with PT Solutions’ growth strategy and enhances its ability to serve patients in the region.
“This transaction successfully delivers exceptional value for both OrthoCarolina and PT Solutions,” said Russell Bryan, Bailey & Company managing director. “It allows OrthoCarolina to streamline its operations while ensuring continued high-quality care for patients, ultimately expanding access to physical therapy services across the Carolinas.”
The deal is expected to create a long-term strategic partnership between OrthoCarolina, PT Solutions, and Novant Health to provide comprehensive therapy services to patients in the region. As OrthoCarolina continues to grow, it will work closely with PT Solutions to offer therapy services to its significant and expanding base of orthopedic patients.
This transaction showcases Bailey & Company’s deep understanding of the healthcare services sector, particularly in strategic divestitures and practice realignment. The firm’s ability to navigate complex healthcare partnerships underscores its commitment to creating value for clients while improving patient care delivery models and further cements its reputation for crafting innovative solutions in the evolving landscape of healthcare services.
Bailey is a Nashville-based merchant banking platform focused on growth and middle-market healthcare and technology companies. Through the firm’s M&A advisory and principal investing businesses, Bailey supports strong management teams that have built scalable platforms by providing strategic insights, world class advice, and access to one of the most diverse networks of industry experts. For more information see: www.bnco.com.
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