Fueled by a private equity backer, a Charlotte-based physical therapy practice has planted its flag in the Richmond market.
Cora Physical Therapy opened a roughly 2,000-square-foot clinic at 6800 Woodlake Commons Loop near Moseley.
While the Chesterfield outpost is the company’s first in the Richmond region, it’s the company’s 18th in Virginia. Other in-state locations include offices in Roanoke and Blacksburg.
Cora (stylized “CORA”) held a grand-opening ceremony for the Midlothian clinic in mid-October. The company said it has plans for more clinics in the Richmond region.
“CORA is actively working on the addition of two more clinics in the Richmond market with ideally many more in the upcoming years to reach a large portion of this area,” a spokesman said via email Thursday.
The Chesterfield clinic offers outpatient physical therapy, worker’s compensation therapy and sports injury rehabilitation among other services. The facility features aerobic machines, free weights and resistance trainers among other equipment.
Cora has more than 250 clinics in Virginia, North Carolina, South Carolina, Tennessee, Kentucky, Georgia, Florida, Illinois, Missouri and Wisconsin. It also owns the Body Gears brand of clinics.
The company announced in the spring that it further expanded its presences in South Carolina and Wisconsin by way of acquisitions of physical therapy providers in those states, according to a company news release. Terms weren’t disclosed.
Ory said the Midlothian clinic, which opened in August, was a new location and not the product of an acquisition.
An affiliate of Florida-based private equity firm H.I.G. Capital acquired Cora in May of last year. Terms weren’t disclosed.