Agility Health, Inc.

Agility Health, Inc.

October 25, 2013 08:30 ET

Agility Health, Inc. Completes Acquisition of Work-Fit™, LLC

GRAND RAPIDS, MICHIGAN--(Marketwired - Oct. 25, 2013) - Agility Health, Inc. (TSX VENTURE:AHI), a leading provider of physical rehabilitation and software services that benefit patients, healthcare providers and employers, today announced that it has closed the previously announced acquisition of Work-Fit, LLC ("Work-Fit") for approximately $7.3 million. Work-Fit generates approximately $6.3 million in annual revenues.

Work-Fit delivers cost-containment solutions to leading employers through an array of worksite-based injury prevention and management programs. Founded in 1992, Work-Fit brings a proven sports medicine/athletic training model into the workplace, and currently serves more than 50,000 client employees across 20 job sites in ten states.

"We are pleased to welcome Work-Fit to the Agility Health team as we continue to expand our presence in the industrial setting," commented Steven N. Davidson, Agility Health's Chief Executive Officer. "We believe that the combination of Agility's strong clinical culture and effective back-office solutions with Work-Fit's innovative approach to injury prevention and management and their multi-sector client portfolio will provide ample opportunities for future growth and enhanced operating efficiencies across the organization."

Work-Fit employs approximately 75 people, the majority of whom are clinicians (principally athletic trainers) embedded in the client worksite. These professionals implement customized programs that include individual and group prevention-based solutions, first aid-level interventional services, and other rehabilitation and treatment-based solutions. Work-Fit utilizes a distinctive "industrial-athlete" model that delivers affordable, effective solutions for clients, who typically realize substantial savings in workers compensation costs and significant decreases in on-the-job injury rates.

About Agility Health

Through its subsidiary and principal operating entity, Agility Health, LLC, Agility Health operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients, providing care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and a variety of other injuries and conditions. In addition, Agility Health provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. As of October 25, 2013, Agility Health operates 68 outpatient or onsite rehabilitation locations in sixteen states. Agility Health's contract therapy services business provides rehabilitative services to 41 hospitals and inpatient rehabilitation units, 36 nursing homes, long-term care facilities and other service locations in 13 states.

Cautionary Statements

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes forward-looking statements regarding Agility Health and its business. Such statements are based on the current expectations and views of future events of Element's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release, including the anticipated future growth of Agility Health, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Agility Health undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Contact Information

  • Agility Health, Inc.
    Steven N. Davidson
    Chief Executive Officer
    (616) 356-5000

    Media Contact:
    Timothy Sipols
    Lambert, Edwards & Associates
    (616) 233-0500