Indianapolis-based Advanced Physical Therapy and its 15 clinics in Indiana have been acquired by Bolingbrook, Ill.-based ATI Physical Therapy.
Terms of the deal, announced on Wednesday, were not disclosed.
Founded in 1985 by JoAnne Jonathan, Advanced Physical Therapy operates seven clinics in Indianapolis and others in Anderson, Bloomington, Franklin, Greenfield, Greenwood, Lafayette, Noblesville and Shelbyville.
With 175 employees, Advanced Physical Therapy is the third largest operator of physical therapy clinics in the Indianapolis area, according to IBJ research, trailing only Indiana University Health and St. Vincent Physical Therapy Centers.
The clinics will retain the Advanced Physical Therapy name for the “time being,” ATI said, and Jonathan will remain with ATI to “work with the executive team directly on strategic planning and growth opportunities.”
Kim Kollwelter of ATI has been promoted to vice president of operations to lead the Indianapolis clinics. Kollwelter began her career at ATI in 2004 and most recently served as regional director, overseeing the Illinois southwest region and Wisconsin.
“As we expand in Indiana, we are thrilled to welcome the foremost physical therapy provider in Indianapolis to the ATI family,” ATI CEO Greg Steil said in a written statement.’
Its acquisition is part of an ATI growth plan that involves the opening or acquisition of 34 new clinics so far this year. ATI operates 134 clinics in six states: Delaware, Illinois, Indiana, Maryland, Pennsylvania and Wisconsin.