Private Equity Conversations with Fexingo · 2026-07-25 · 10 min
Private equity has set its sights on physical therapy. In this episode, Lucas and Luna explore the roll-up strategy behind the consolidation of outpatient PT clinics across the U.S. With a 2025 study showing PE now controls roughly a quarter of the market, they break down the economics: why physical therapy is an attractive margin business, how firms like Aegis and ECP are scaling multiple locations under one brand, and what it means for patient care, therapist pay, and referral networks. They also look at a specific case study - the Confluent Health network in six states - and ask whether the private-equity playbook works the same in healthcare as it does in HVAC or car washes. A concrete look at a quiet transformation in how Americans rehab. #PrivateEquity #PhysicalTherapy #HealthcareConsolidation #RollUp #PEInvesting #BusinessPodcast #FexingoBusiness #Finance #Rehab #Aegis #ConfluentHealth #Clinics #HealthcareBusiness #FragmentedIndustries #Acquisitions #Buyouts #LucasAndLuna #HealthcareEconomics Keep every episode free: buymeacoffee.com/fexingo
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