MemorialCare, a prominent nonprofit Southern California integrated health system, and Physical Rehabilitation Network (PRN), today expanded their joint support network in California with their acquisition of Complete Balance Solutions Institute for Physiotherapy, Inc.
As part of a shared strategic alliance, joint venture partners MemorialCare and PRN will acquire Complete Balance Solutions’ three Southern California outpatient therapy clinics, located in Laguna Hills, Irvine and Seal Beach. Through the addition of those clinics, the MemorialCare and PRN joint venture partnership claims the region’s most expansive network of physical therapy facilities with 26 clinics throughout Orange, Los Angeles and Riverside counties, with plans to open additional locations by December of 2021.
“We are proudly building on our shared commitment with MemorialCare and expanding our presence in the state of California by welcoming the Complete Balance Solutions team into the PRN family,” said Ajay Gupta, CEO, PRN. “Founders [and clinic directors] Sapan Palkhiwala and Nirav Patel bring many years of experience and dedication to delivering the highest level of outcomes-based patient care. We are thrilled to have these well-respected leaders and their teams join us at PRN. And we are equally excited to begin supporting them in providing quality patient care to the local communities of Laguna Hills, Irvine and Seal Beach.”
Founded in 2006 by physical therapists Sapan Palkhiwala and Nirav Patel, Complete Balance Solutions is a premier destination for neurological, vestibular and balance injuries and disorders. The team collectively brings more than 25 years’ experience specializing in treating individuals with dizziness, balance and movement disorders and complex non-healing ailments. Complete Balance Solutions’ clinics also offer traditional pain relief, speech therapy and a specialized driving rehabilitation program.
“MemorialCare’s continued investment in strengthening its partnership with PRN and expanding its physical therapy and rehabilitation network is part of our broader commitment to provide the highest-value full-service healthcare to Southern California consumers and employers,” says Mark Schafer, M.D., CEO of MemorialCare Medical Foundation, which includes MemorialCare Medical Group and Greater Newport Physicians. “With the addition of this leading group of specialists, we’re able to expand our clinical offerings to better serve patients with neurological disorders such as multiple sclerosis and Parkinson’s disease, as well as those with vestibular and balance conditions.”
The partnership’s network includes Orange County centers in Costa Mesa, Fountain Valley, Newport Beach, Irvine, Huntington Beach, Anaheim, Anaheim Hills, Mission Viejo, San Clemente, San Juan Capistrano, Laguna Niguel, Yorba Linda, Brea, Seal Beach and Santa Ana/Tustin; Los Angeles County centers in Los Angeles/Beverly Hills, Torrance, Downey, Long Beach/Lakewood, Long Beach and Baldwin Park/West Covina; and Riverside County center in Corona.
To learn more about the physical therapy clinics, visit https://completebalancesolutions.com/ or memorialcare.org/physicaltherapy. Call (657) 246-3442 for an appointment.
PRN is a portfolio company of Gryphon Investors, a leading 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 Complete Balance Solutions Institute for Physiotherapy.