Vinny and Janie Schneider bought the Center for Physical Therapy and Sports Medicine clinic near Innsbrook. (Photo courtesy of Janie Schneider)
Janie Schneider has gone from employee to owner at a long-running physical therapy clinic near Innsbrook.
Schneider and her husband, Vinny, recently bought the Center for Physical Therapy and Sports Medicine at 3920 Springfield Road from Tourage Rafeei, who founded the clinic more than 20 years ago.
Terms of the deal weren’t disclosed but included both the practice and its building. The real estate changed hands for $950,000, per Henrico’s online property records.
Both Schneiders are physical therapists and Janie worked at the clinic for six years prior to the deal. Vinny joined the clinic’s care team once they bought the practice and had worked in the Tri-Cities area beforehand.
Rafeei is helping with the transition, and once he leaves the clinic the Schneiders plan to seek another physical therapist to replace him.
Not included in the deal was the South Richmond outpost of the Center for Physical Therapy and Sports Medicine, at 1011 Hioaks Road, Suite A. Rafeei said he sold his stake in that clinic in March to Andrew Osowski, who had been an employee of that location and now co-owns that clinic with Rafeei’s former business partner Richard Linkonis.
Rafeei, 64, said he sold the clinics as he prepares to retire and relocate to California, where he plans to relax a bit and potentially become a researcher in his field.
Tourage Rafeei. (Photo courtesy of the Center for Physical Therapy and Sports Medicine)
“It was time for me to gradually retire. I know for some people it’s early, but I have other plans,” he said.
He said he floated the idea of a transition to Janie a couple years ago, but negotiations only began in earnest several months before the deal was inked in mid-October.
“She knew the ins and outs of the practice, so it was a perfect fit,” Rafeei said.
He said he wanted to sell to locals to maintain a community-oriented flavor at the practice.
“I worked very hard for the practices, they were like my babies. I enjoyed working with the patients and working in the community,” he said. “I didn’t want to sell that to a corporate buyer, even if I was paid more. I decided to keep it independent.”
Rafeei founded the practice in 2000 with a western Henrico outpost near Regency that moved to the current Springfield Road location about two years later. He opened the Richmond clinic in a downtown spot in 2004, and that clinic relocated to its current location several years after it first opened.
Including the Schneiders, the Henrico clinic has a 10-person team working from its 4,600-square-foot office, which has 15 treatment tables.
Janie said they plan up to $100,000 in renovations, which is expected to include new equipment, flooring and other improvements. The Schneiders financed the acquisition through a loan from Truist Bank.
The new owners also plan to expand the clinic’s prenatal and postpartum services, a type of care they feel is underserved in the region.
Also on the drawing board is a desire to grow the business with another location.
“We definitely want to look for a second clinic, whether opening a new space or purchasing an existing one,” Janie said.
The Henrico clinic changes hands as new-to-market chain Cora Physical Therapy opens a local outpost in Chesterfield. Earlier this year, RVA Physical Therapy opened a second location in Midlothian.
Vinny and Janie Schneider bought the Center for Physical Therapy and Sports Medicine clinic near Innsbrook. (Photo courtesy of Janie Schneider)
Janie Schneider has gone from employee to owner at a long-running physical therapy clinic near Innsbrook.
Schneider and her husband, Vinny, recently bought the Center for Physical Therapy and Sports Medicine at 3920 Springfield Road from Tourage Rafeei, who founded the clinic more than 20 years ago.
Terms of the deal weren’t disclosed but included both the practice and its building. The real estate changed hands for $950,000, per Henrico’s online property records.
Both Schneiders are physical therapists and Janie worked at the clinic for six years prior to the deal. Vinny joined the clinic’s care team once they bought the practice and had worked in the Tri-Cities area beforehand.
Rafeei is helping with the transition, and once he leaves the clinic the Schneiders plan to seek another physical therapist to replace him.
Not included in the deal was the South Richmond outpost of the Center for Physical Therapy and Sports Medicine, at 1011 Hioaks Road, Suite A. Rafeei said he sold his stake in that clinic in March to Andrew Osowski, who had been an employee of that location and now co-owns that clinic with Rafeei’s former business partner Richard Linkonis.
Rafeei, 64, said he sold the clinics as he prepares to retire and relocate to California, where he plans to relax a bit and potentially become a researcher in his field.
Tourage Rafeei. (Photo courtesy of the Center for Physical Therapy and Sports Medicine)
“It was time for me to gradually retire. I know for some people it’s early, but I have other plans,” he said.
He said he floated the idea of a transition to Janie a couple years ago, but negotiations only began in earnest several months before the deal was inked in mid-October.
“She knew the ins and outs of the practice, so it was a perfect fit,” Rafeei said.
He said he wanted to sell to locals to maintain a community-oriented flavor at the practice.
“I worked very hard for the practices, they were like my babies. I enjoyed working with the patients and working in the community,” he said. “I didn’t want to sell that to a corporate buyer, even if I was paid more. I decided to keep it independent.”
Rafeei founded the practice in 2000 with a western Henrico outpost near Regency that moved to the current Springfield Road location about two years later. He opened the Richmond clinic in a downtown spot in 2004, and that clinic relocated to its current location several years after it first opened.
Including the Schneiders, the Henrico clinic has a 10-person team working from its 4,600-square-foot office, which has 15 treatment tables.
Janie said they plan up to $100,000 in renovations, which is expected to include new equipment, flooring and other improvements. The Schneiders financed the acquisition through a loan from Truist Bank.
The new owners also plan to expand the clinic’s prenatal and postpartum services, a type of care they feel is underserved in the region.
Also on the drawing board is a desire to grow the business with another location.
“We definitely want to look for a second clinic, whether opening a new space or purchasing an existing one,” Janie said.
The Henrico clinic changes hands as new-to-market chain Cora Physical Therapy opens a local outpost in Chesterfield. Earlier this year, RVA Physical Therapy opened a second location in Midlothian.