Louisville health care company acquires three new practices in March

Confluent Health LLC is continuing its growth trajectory in 2022 making three new practice acquisitions across the country in March.

The recent growth brings the company’s presence to 44 partner companies with 514 clinic locations across 28 states. Confluent declined to share financial information for any of the transactions.

Confluent CEO Dr. Larry Benz refers to its acquisitions as “partnerships” because the physical therapy practice maintains its name and a share of ownership. Confluent provides back-office services for physical therapy offices, including finance, compliance, payroll and the like.

Physical Therapy Specialists of Beverly Hills

Confluent acquired Physical Therapy Specialists of Beverly Hills, a second acquisition as part of California Confluent (its first being All Star Physical Therapy at the end of 2021.) This new company was created with a mission to exclusively build out physical therapy private practice partnerships in the state of California, according to a news release on the acquisition.

PT Specialists of Beverly Hills will maintain its existing brand with access to Confluent’s services including management services, education, and musculoskeletal health innovations, the release said. PT Specialists owner Stephanie Bolling said since her practice formed in 1994, it has had a commitment to serving patients and creating opportunities for staff.

“There is no better model of exceptional leadership than what Stephanie [Bolling] has built with PT Specialists,” Benz said in the release. “Their team makes up a pre-eminent practice on the West Coast and is going to add significant value as we grow together. Our partnership has endless possibilities.”

“As a team, PT Specialists is excited to partner with Confluent Health to continue building an unstoppable, premiere physical therapy company with the best patient-care California has to offer,” Bolling said in the release.

PT Specialists employs 19 people.

IncreMedical Therapy Solutions

Confluent also acquired IncreMedical Therapy Solutions, a practice with locations in Indiana, Georgia and Wyoming. The private post-acute physical medicine management group includes 41 locations and employs 369 people across its locations.

“We are proud to partner with IncreMedical Therapy Solutions and have known about their impressive solutions combining technology-supported care pathways and growth for years,” Benz said in a release for the transaction. “[Managing partners] Greg [Cooper] and Barry [Carlstedt]’s entire team are pre-eminent clinical leaders and are going to add significant value as we grow together. Our partnership has endless possibilities.”

Pappas | OPT Physical, Sports and Hand Therapy

Pappas | OPT, part of Confluent, has acquired Premier Orthopedics & Work Rehabilitation (POWR), a private and therapist-owned physical therapy practice with a clinic location in North Kingstown, Rhode Island.

This will give POWR access to the Confluent materials Pappas already had access to. It similarly places Pappas | OPT clinic footprint to 20 clinics across Rhode Island, the state’s largest provider of physical therapy services. POWR employs four people.

Confluent’s services expanded coast to coast at the end of 2021. It completed 15 acquisitions in that year. It’s fast-growing nature landed CEO Benz to our Power 50 list.

Confluent declined to share its total revenue. The company is also expanding in Louisville. It announced earlier this year that it was moving its headquarters to accommodate growth. It’s adding 350 full time jobs in a $10 million investment.