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Capstone Partners Advises Progressus Therapy on its Sale to Invo HealthCare Associates

March 2016

Philadelphia, PA – Capstone Partners LLC, a leading international investment banking firm, announced that it has successfully advised Progressus Therapy, a portfolio company of Sterling Partners, on its sale to Invo HealthCare Associates, a portfolio company of Post Capital Partners.  Terms of the transaction were not disclosed.


Progressus Therapy is one of the nation’s leaders in school-based and early intervention programs and services.  The Company provides a multitude of special education services from speech-language pathology (SLP), occupational therapy (OT) and physical therapy (PT) to psychology, nursing, teaching and early intervention.  Partnering with hundreds of school districts and charter schools, as well as early intervention agencies across the country, Progressus Therapy employs more than 500 highly qualified clinicians and special education professionals who work with families and school communities to improve the outcomes of children with special needs.  Prior to the acquisition by Invo HealthCare, Progressus Therapy operated as a portfolio company of Sterling Partners, a private equity firm with approximately $5 billion of assets under management with a focus on investing growth and human capital in mid-market companies in industries with positive, long-term trends including healthcare, education and business services.


Progressus Therapy was acquired by Invo HealthCare, a leading national provider of outsourced special education and related services solutions to schools and educationally-based programs for delivery to individuals with disabilities and developmental delays.  Invo HealthCare is a portfolio company of Post Capital Partners, a New York based private investment firm that makes both minority growth and control investments in businesses with repeat or recurring revenue models.


The Capstone M&A team of Eric Williams, Managing Director, and Mark Surowiak, Director, based in Philadelphia, PA, managed the transaction on behalf of Sterling Partners.  This is the latest transaction in Capstone’s long history of success serving the education market.  Commenting on the transaction, Eric Williams, Managing Director of Capstone said, “This is an excellent union of two of the best brands in the outsourced special education services sector; both of which have cultivated first-rate reputations by consistently providing quality therapists dedicated to improving student outcomes.”  “Progressus and Invo share a common mission to inspire growth in all learners,” added Mark Surowiak.  “We are pleased our client is teaming with Invo HealthCare, a quality buyer that is committed to fully capitalizing on Progressus Therapy’s reputation for clinical excellence, dedicated staff of professionals and established relationships with a number of the most prominent and largest school districts in the country."


Demand for healthcare staffing services related to special education programs in the U.S. is being fueled by rising therapy requirements, a shortage of special education professionals (particularly speech-language pathologists and occupational therapists) in many regional markets, and the growing population of special needs children due to better diagnosis and increased prevalence of developmental disabilities.  Not surprisingly, these favorable industry dynamics are being recognized by some of the largest general healthcare staffing firms as evidenced by publicly traded Cross Country’s recent acquisition of Mediscan due in large part to a desire to increase their presence in the fast-growing public school and charter school markets.

 

Awards & Accolades

2016
USA Deal of the Year

Lead Professional

Eric Williams

Managing Director