Gryphon and Portfolio Company News

Physical Rehabilitation Network (PRN) Acquires Professional Rehabilitation Associates

Carlsbad, CA -

PRN Extends National Footprint into Kentucky

Physical Rehabilitation Network (PRN), a leading physical therapy provider and practice management organization, today announced its entrance into Kentucky with its acquisition of Professional Rehabilitation Associates, PSC. (PRA). PRA operates three outpatient physical therapy clinics and manages one inpatient care center in the towns of Cynthiana, Paris, Richmond, and Winchester. This acquisition elevates PRN’s nationwide clinic count to 150, across 14 states.

Under this new partnership, PRN will acquire PRA’s three outpatient physical therapy clinics; Harrison Physical Therapy, Paris Physical Therapy and Richmond Physical Therapy and will assume management accountability over PRA’s single inpatient physical therapy care center within the Clark Regional Medical Center.

“This acquisition, and our entrance into Kentucky, not only represents another significant step in growing PRN’s national footprint as we become the nation’s premier support partner and care provider, but it also gives PRN the chance to build on PRA’s strong heritage through our shared style of quality physical therapy care,” said Ajay Gupta, CEO, PRN.

All PRA locations will continue to offer leading pain resolution and recovery solutions through their leading physical therapy care, hand therapy services, work injury prevention and rehabilitation, sports medicine programs, and more.

PRN is a portfolio company of Gryphon Investors, a San Francisco-based middle market private equity firm.

PricewaterhouseCoopers LLP., FTI Consulting and Bass, Berry & Sims PLC acted as advisors to PRN on the transaction. Mihama Acquisitions advised PRA.

To learn more about PRA’s network of clinics or to schedule an appointment at one of their physical therapy locations, please call (859) 625-0001 or visit PRA’s website at

For more information on PRN locations or partnership opportunities, visit To stay up to date on the latest PRN news, follow us @PRNPhysicalTherapy on Facebook and on LinkedIn.

About Physical Rehabilitation Network

Founded in 1991, Physical Rehabilitation Network, LLC., (PRN) is a privately held physical therapy care provider and comprehensive practice management organization providing non-clinical, administrative support services to physical therapists across 14 states in the western and central portions of the U.S. Headquartered in Carlsbad, Calif., PRN is known for its leading, value-driven practice management services and innovative, outcomes-driven physical therapy care model.

About Gryphon Investors

Based in San Francisco, Gryphon Investors ( is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.


Brian Rog

Physical Rehabilitation Network

Caroline Luz

Lambert & Co.