Thinking of selling your practice?
“I care a great deal about the people I built
this company with, and I wanted to make
sure they would be happy.”
Lynn Janssen, SLP and former owner
Lynn Janssen, SLP owned and ran Premier Health Associates in Des Moines for more than 18 years when she sold her company to RehabVisions in 2010. We acquired from Premier five SNF contracts, one hospital contract and Premier Health Associates clinic.
The companies blended easily because of the shared values and philosophies between them. Likewise, the 35 employees who transitioned to RehabVisions through the acquisition were the type of people we hire ourselves. “They have a genuine concern for patient care and a dedicated focus to do whatever is necessary to get the job done,” CFO Darrell Metcalf said.
In fact one of the Premier therapists, Jennifer Caskey, PT, had worked for RehabVisions in the past. She said she was obviously nervous when she found out their company was being sold, so she made some calls to friends who were still familiar with RehabVisions. “They assured me that RV was still the same type of company it had been when I worked there,” she said. “Then I knew that everything would be ok.”
Dave Nachtigal, PT started his contract PT business 40 years ago at a hospital in Hiawatha, Kansas. He was the only therapist. He has since grown it into a multi-location, diversified practice that serves the continuum of care. He employs 43 clinicians and staff, many of whom he has known their whole lives. “Two of them I held as babies and eventually guided them into the field of therapy.”
As the years went by, loyalty to his employees and the responsibility of a young family at home meant the “what-ifs” started weighing heavily on Dave’s mind.
In April 2016, RehabVisions became partners with Dave. “They were the glue I needed to keep the practice together if something should happen to me.”
RehabVisions and Total Rehab formed a partnership to provide management and support to Total Rehab’s two existing Outpatient Clinics in May 2013.
Founded by Margaret Bates, OT and Michele Cox, PT, the two therapists needed help with the business side of their therapy practice and liked what they saw in RehabVisions. “We were busy therapists growing our business and serving patients in our community and less focused on managing our back office,” Michele said. “We knew we needed help and after talking to Darrell (CFO Darrell Metcalf), we thought this was a great solution.”
RehabVisions has been able to help Total Rehab with some of its processes. We have assisted them in the training and utilization of the accounting software and helped to get their balance sheets in order for monthly reporting. We also set them up on a server so they are now able to share files and information.
CFO Darrell Metcalf, who has led the partnership with Total Rehab, said they represent one of the ideal opportunities for RV—entrepreneurs who are interested in growing their business but who are more interested in the patient care aspect than the back office.