Waterland: Portfolio company Rehacon acquires fysioconcept
Gelsenkirchen/Krefeld — Waterland Private Equity continues its buy&build strategy at its portfolio company Rehacon: fysioconcept is already the fourth acquisition for Rehacon within a few weeks. With a wide range of physiotherapy services, fysioconcept is one of the largest providers in the Krefeld area. With this partnership, the Rehacon Group is strengthening its regional presence in the Lower Rhine region. At the same time, the Group intends to work with fysioconcept to further consolidate the practice network, broaden its service portfolio and enter into additional collaborations with clinics.
The seller of fysioconcept is founder and CEO Jos Beulen. He will remain associated with the Group in a leading position and will continue to accompany its further development in the future. Waterland had acquired Rehacon in January 2019 and assisted in the acquisition of Hamburg-based therapy center Anita Brüche in April. The transaction, the details of which have been agreed not to be disclosed, is expected to be completed in early July.
fysioconcept maintains four locations in Krefeld, including a physical therapy practice for the local Malteser Hospital, its own private patient location, and an Olympic base in the Krefeld area. The total of more than 80 employees treat over 12,000 patients per year, both as outpatients and inpatients. Fysioconcept services include Extended Outpatient Physical Therapy (EAP), jaw treatment, physiotherapy, lymphatic drainage, medical training, occupational therapy, osteopathy, and manual, neurological and physical therapy. With the latest acquisition, the treatment spectrum of the entire Rehacon Group will be expanded to include offerings for competitive athletes, for example. For fysioconcept employees, additional extensive training and further education opportunities open up. Integration into the Rehacon Group means even more flexibility for therapists in their activities and choice of location.
Today, Rehacon is one of the leading providers of physiotherapy services and therapy offerings in Europe. Nationwide, the company operates more than 120 therapy centers and employs over 800 people. The group generates annual sales of around 36 million euros at last count.
Jos Beulen, founder and managing director of fysioconcept, welcomes the partnership: “Also as part of the Rehacon Group, we stand for high-quality and individual physiotherapeutic treatment. At the same time, patients and employees benefit from Rehacon’s nationwide presence and the associated new opportunities.”
Michael Reeder, founder and managing director of Rehacon, emphasizes: “Rehacon is now even more present in the Lower Rhine region thanks to the partnership with fysioconcept. The integration into our group shows: We are consistently pursuing our course and want to grow further by integrating additional complex and successful therapy centers in the highly fragmented market for physiotherapy.”
Dr. Carsten Rahlfs (photo copyright Waterland), Partner at Waterland: “Buy & build strategies are a key success factor for Waterland. We partner with well-positioned entrepreneurs operating in fragmented markets with consolidation potential to help them expand rapidly. The clear objective is to turn these companies into successful market leaders by making acquisitions to expand their offerings. With fysioconcept, Rehacon can further expand its partnerships with clinics in the region. Following the acquisition of the Anita Brüche Therapy Center in Hamburg a few weeks ago, the integration of fysioconcept into Rehacon is another key step towards achieving our strategic goal.”
As the majority shareholder in Rehacon, the independent investment company Waterland has extensive experience in the healthcare market. In addition to MEDIAN, the leading private provider in Germany with more than 120 rehabilitation clinics, the company portfolio also includes the ATOS clinic group, which specializes in orthopedics, and the care service provider Schönes Leben. Finally, Waterland also has a significant stake in Hansefit, a leading network association for company sports and health services with more than 1,400 affiliated fitness studios.
Waterland is an independent private equity investment firm that helps companies realize their growth plans. With substantial financial support and industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Hamburg, Munich), Poland (Warsaw), the UK (Manchester), Denmark (Copenhagen) and Switzerland (Zurich). Currently, six billion euros in equity funds are under management.
Waterland has consistently outperformed its investments since its founding in 1999 and has regularly ranked among the top three leading private equity firms worldwide in past HEC/Dow Jones Private Equity Performance Rankings.