York Private Equity Partners With Comprehensive Rehab Consultants, One of the Country’s Largest and Fastest Growing Physiatry Groups

Strategic Investment Will Support CRC’s Organic and M&A-driven Growth Initiatives

NEW YORK, November 02, 2023--(BUSINESS WIRE)--York Capital Management’s private equity group ("York Private Equity" or "York") today announced it has made a strategic growth investment in Comprehensive Rehab Consultants ("CRC" or the "Company"), one of the largest physiatry, psychiatry, and care transition groups in the United States. CRC’s Co-Founders Dr. Omar Osman and Rehan Azhar will remain owners of the business and continue to lead the Company as it executes its mission of providing patients with world-class care and driving innovation in effective care delivery.

Founded in 2020, CRC provides Physiatry (the medical specialty of Physical Medicine and Rehabilitation), chronic care management, and behavioral health services to skilled nursing facilities nationwide to enhance clinical care and improve patient outcomes. CRC’s proven ability to address the needs of patients has helped it grow steadily and establish a reputation as a leading, tech and data focused, high-quality clinical partner to post-acute facilities across the United States. CRC currently has over 250 clinicians servicing facilities across 32 states.

"We chose York as our partner given their long-term, collaborative approach and proven experience supporting businesses in the post-acute healthcare industry. This partnership will allow CRC to broaden our service offerings and provide better care to our core patient population," said Dr. Omar Osman, Co-Founder and Chief Executive Officer of CRC. "We strive to bring comprehensive medical care to geriatric patients at skilled nursing facilities across the country, and today, we are excited to be one step closer to achieving our mission."

"Through this collaboration with York, we are confident we will be able to reach more patients, expand the services we provide them, and improve the quality of care they receive. We remain steadfast in our focus of delivering the superior patient experience and clinical outcomes that have quickly established CRC as a leader in the post-acute industry," said Rehan Azhar, Co-Founder and Chief Operating Officer of CRC.

"CRC has done an extraordinary job of establishing itself as one of the premier clinical providers serving the post-acute sector since Omar and Rehan founded the business three years ago," said Seth Pearson, Managing Director at York Private Equity. "Our investment aligns with York’s strategy of backing founders, management teams, and their businesses in the healthcare services sector to create opportunities for superior clinical outcomes, accelerate existing organic growth plans, enter new service lines, and expand into new geographies. We fully support CRC’s ultimate goal of helping more patients and delivering the care they need to get them home healthier and more functional."

CRC is the eighth platform investment completed since inception by York Special Opportunities Fund III, L.P., which includes 14 add-on acquisitions. York seeks to partner with founders and entrepreneurs to help facilitate and support organic and inorganic growth in industries such as healthcare services, consumer/retail, and business & industrial services.

William Blair acted as the sell-side investment banking advisor to CRC. Pennant Park provided debt financing for the transaction.

About Comprehensive Rehab Consultants

Founded by Dr. Omar Osman and Rehan Azhar in 2020, Comprehensive Rehab Consultants (CRC), is a leading national medical group providing physiatry and psychiatry services as well as care coordination for patients to the post-acute healthcare landscape. CRC provides services across over 32 states through over 250 dedicated clinicians who have received extensive proprietary training, access to effective technology, and outcome-based data. CRC’s services seek to lower hospital re-admission rates and improve patient outcomes and quality of life. For more information please visit: https://www.crehabconsultants.com/

About York Private Equity

York Private Equity, the private investing arm of York Capital Management, primarily targets control investments in middle-market businesses. Since inception in 2008, York Private Equity’s middle-market strategy has completed over 50 investments with aggregate transaction value in excess of $4 billion. York Private Equity has 16 dedicated team members. For more information please visit: https://www.yorkcapitalpe.com.

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