McDermott, Kirkland Lead as H.I.G. Buys CORA Physical Therapy

McDermott Will & Emery advised Miami-based private equity firm H.I.G. Capital on its affiliate’s agreement to acquire Charlotte, N.C.-based CORA Physical Therapy.

Kirkland & Ellis is advising CORA, which includes CORA Health Holdings Corp. and its subsidiaries, according to a statement. No financial details were disclosed for the deal, expected to close in June.

Cora says it has 850+ physical therapists, physical therapy assistants, and other clinicians across 228 clinics in nine, mainly southeastern states. They provide physical rehabilitation services for orthopedic problems, work-related injuries, sports injuries, and various neuromuscular and neurological conditions.

“In addition to operating in an industry that delivers cost-effective care that can help patients avoid expensive and invasive procedures, CORA’s mission of offering excellent clinical care to all patients was a key consideration for our investment,” said H.I.G.’s managing director, Alok Sanghvi.

CORA’s management team, led by CEO Dennis Smith, will continue to run the company and remain as shareholders in the business, the statement said.