Charlotte, N.C.-based OrthoCarolina plans to sell its physician therapy business to Atlanta-based PT Solutions Physical Therapy, NC Health News/Charlotte Ledger reported Jan. 17.
The company is reportedly close to a deal to sell its physical therapy service to the private equity-backed company.
OrthoCarolina CEO and orthopedic surgeon Leo Spector, MD, did not confirm specifics to NC Health News/Charlotte Ledger, but said that the company expects to announce a sale in the coming weeks. He also noted that the sale of the physical therapy practice is part of a strategy to focus on patient care and orthopedic surgeries.
Dr. Spector also told the publications that the sale of the physical therapy business will expand the availability of physical therapy for OrthoCarolina's patients, as the practice can currently only accommodate about 50% of its patients who need physical therapy.