Therapy Partner Solutions (“TPS”), headquartered in Jacksonville, FL, is a leading physical therapy platform in the Southeast U.S. TPS employs a diversified operating model delivering physical therapy services across three divisions: Clinic Partnerships, Management Services, and Performance Solutions. The platform is comprised of approximately 60 owned and managed care sites across eight states and includes revenue cycle outsourcing and compliance consulting operations for independent clinics.
To help TPS continue its growth and bolster its offerings, AGG Healthcare attorneys Lanchi Bombalier, Matthew Brohm, Jeff Friedman, and Damon McLean served as TPS’ legal counsel to aid in its sale to Lee Equity Partners, a middle-market private equity firm that partners with successful management teams to build companies with growth potential.
TPS is led by its three founders, Steve Chenoweth, Sam Echols, and Chad Whitefield. Chenoweth, CEO of TPS, will continue to lead the company. The entire senior management team, along with its existing investor Walnut Grove Capital Partners, retained a meaningful equity investment in the business.
“Since our founding, TPS has been focused on partnering with entrepreneurial physical therapists and giving them the resources to provide top quality care to patients,” said Chenoweth in a press release following the announcement of the sale. “We are excited to partner with Lee Equity to continue our growth and improve our offerings to therapists, patients, and our communities.”