RehabWorks, the award-winning healthcare business headquartered in Bury St Edmunds, is to become a market-leading joint entity with Crystal Palace Physio Group.
The acquisition of Crystal Palace Physio Group has been formally completed in recent days by Archimed SAS, a health-focused private equity fund which owns RehabWorks and which also acquired Right Corecare in 2015.
With a turnover circa £6million, and a network of 12 sites in London and the South East, the newly acquired physiotherapy business is a specialist provider of Musculoskeletal (MSK) services to both the corporate and NHS markets.
Derrick Farrell, CEO of RehabWorks, will head up the combined entity.
He said: “We are very pleased to be announcing the coming together of RehabWorks and Crystal Palace Physio Group.
“This is an important step in our ongoing journey of respected healthcare provision, and in pushing the business towards becoming the leading UK provider of Musculoskeletal and Mental Health solutions.”
Mr Farrell believes the expertise and experience within the Crystal Palace Physio Group will be invaluable for the intentions of the combined business.
He added: “The NHS represents a growing opportunity for our chosen disciplines, and the ability to set up an owned network to support our growing corporate proposition will become more important over the coming years.
“Merging our businesses will be done in a careful and considered way to ensure our staff and customers benefit from the emerging operating model.”
Stuart Paterson, the current managing director and owner of Crystal Palace Physio Group, will remain with the combined business. He will join the Board with immediate effect.
Commenting on the acquisition activity, Stuart said: “Joining the business clearly represents an exciting opportunity to create a national brand across target markets.
“The culture and brand of Crystal Palace Physio Group has always been important to us, and in RehabWorks, we believe we have found a partner that is very much aligned with our vision.”
He added: “The combined size of the organisation, along with the backing of Archimed will continue to ensure the long-term success of the business.”
The combined businesses will now have a staff-force of 334, across 20 sites around the UK.
RehabWorks already has centres in Bury St Edmunds, Manchester, Fareham, Milton Keynes, Birmingham, Glasgow, Rotherham and Swindon.