ProEx recently announced the acquisition of a two-location physical therapy practice, Sports Therapy & Rehabilitation.
Sports Therapy & Rehabilitation, founded in 1993, has locations in Beverly, MA at 900 Cummings Center, and Salem, MA at 84 Highland Avenue. The practice employs a dozen professionals.
Michael J. Mulrenan, Chief Executive Officer of ProEx, said that under the terms of the acquisition, the two Sports Therapy & Rehabilitation locations will continue to operate as before, with the same therapists and healthcare professionals in place. He said that the plan to integrate the practices fully will take approximately 90 days, at which time the two locations will operate under the name ProEx. “Patients of these two practices will be treated at the same location, by the same professionals, and will continue to receive the same excellent level of care as always,” said Mulrenan. “The only change that will be apparent to patients will be the name change, which will be reflected in the buildings’ exterior and interior signage, and collateral materials.”
The sale price was not disclosed. Mulrenan said that the existing 12 employees will join the ProEx team, including Chris Jensen, who will serve as Manager of the Beverly and Salem locations in the new entity. With the addition of the Salem and Beverly practices, this brings the total number of ProEx locations to 12.
Jensen, a 25-year veteran of the physical therapy industry, specializes in outpatient orthopedic and sports related injuries. He relocated to MA from southern California in 1993 and opened his first location then. In addition to his work as a physical therapist, he is an Adjunct Professor at Salem State University, in the Sports & Science Movement Department, where he teaches Science and Athletic Training Courses. He opened the second location, in Beverly, eight years ago.
Mulrenan said, “We are all very excited to welcome the Sports Therapy & Rehabilitation team to our ProEx family.” He added, “Chris Jensen and his team have a solid reputation in our industry, and we are delighted that Chris has agreed to remain with our ProEx team in this key leadership position. We know that there will be great synergy among all of us.”
Mulrenan said that he sees the acquisition as extremely beneficial for ProEx in its overall growth strategy, because it adds two new locations and a team of a dozen professionals to his growing firm. He said that the new ProEx team members will benefit from the advantages that a larger practice can offer, including educational and training opportunities. “We have begun the process of integrating the two practices and everything is going very smoothly,” Mulrenan said, adding, “This is a clear win for all of us, and especially the patients that we serve.”
He said that ProEx plans to have an official ceremony and open house a little later in the year to celebrate the joining of the teams and to introduce the new members of the organization.