Plano-based Reliant Rehabilitation has been acquired by a major private equity firm, the two sides announced last week.
H.I.G. Capital is the acquirer. Miami-based H.I.G. has about 100 companies in its portfolio totaling more than $30 billion in sales.
Reliant is a nationwide provider of physical, occupational, and speech therapy that has more than 800 facilities across 40 states. It totals 9,000 employees and is one of the largest providers of contract therapy services in the U.S.
Terms of the deal weren’t disclosed, and H.I.G. didn’t return a request for more details (I’ll update here if they do).
“We’re excited to partner with H.I.G. for the next phase of Reliant’s growth,” Reliant CEO Chris Bird said in a statement. “H.I.G.’s healthcare knowledge combined with its demonstrated commitment to help companies consolidate fragmented industries will enable Reliant to execute on our growth plans.”
Last month, Reliant agreed to pay the federal government $6.1 million to settle claims that the company paid kickbacks to skilled nursing facilities and doctors. Reliant did not admit liability.
