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BPOC Makes Strategic Investment in Alliance Physical Therapy Partners

Investment signals new phase of growth at Alliance as demand for physical therapy continues to increase

CHICAGO, December 22, 2021 -- BPOC, one of the longest-tenured pure-play healthcare investors, today announced a strategic investment in Alliance Physical Therapy Partners, LLC ("Alliance"), a leading provider of physical therapy services across the U.S.

Alliance is a national physical therapy operator offering outpatient physical therapy across a network of 90+ clinics in 14 states. In addition to traditional physical therapy, Alliance offers virtual physical therapy, a workplace therapy solution, in-hospital services, and a comprehensive electronic medical record platform. BPOC will partner with the existing management team, led by Richard Leaver, in order to execute on Alliance's growth strategy and vision.

"We are incredibly excited to partner with BPOC as we enter our next stage of growth" said Richard Leaver, CEO of Alliance. "Alliance was founded with the mission to become the leading physical therapy network in the country by delivering superior, quality and compassionate services to our patients. Together, we believe this partnership will allow for the continued expansion of high-quality patient services as we grow a community of exceptional physical therapy practices."

"As the healthcare industry continues to shift towards value-based care, finding platforms designed to help patients avoid expensive procedures while improving clinical outcomes is critical," said Troy Phillips, Partner at BPOC. "We have been extremely impressed with Alliance's reputation for prioritizing patient experience and delivering excellent, cost-effective care. We look forward to partnering with the Alliance team and supporting the company's growth strategies and long-term vision," he added.

Alliance was represented in the transaction by the law firm of McGuire Woods. Cain Brothers served as exclusive financial advisor to Alliance in connection with the transaction. Kirkland & Ellis, LLP served as legal advisor to BPOC. Houlihan Lokey Capital, Inc. served as financial advisor to BPOC in connection with the transaction.

The transaction is effective immediately and financial terms were not disclosed.

About BPOC Founded in 1996, BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation's most experienced investors in the industry having raised five funds with total capital commitments of nearly $1.8 billion. BPOC has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations.

About Alliance Physical Therapy Partners Alliance Physical Therapy Partners is a leading, national physical therapy operator with 14 distinct outpatient physical therapy brands comprising 90+ locations and a network of 450+ licensed clinicians. In addition to operating a network of outpatient clinics, Alliance partners with hospitals and various industries by providing white-labeled contracted therapy and on-site injury prevention services. Founded in 2017 and headquartered in Grand Rapids, Michigan,

Alliance Physical Therapy Partners is committed toward delivering quality and compassionate services for patients nationwide. For more information, visit

Media Contact Alex Nye M: 814 671 7497 E:

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