ROCKY HILL, Conn. — ATG Rehab announced July 1 it has acquired Baltimore, Md.-based Chesapeake Rehab Equipment, which has 13 branches in six Mid-Atlantic states. The move marks the largest acquisition in ATG's history, as well as the largest ever in the complex rehabilitation industry, according to a release, expanding ATG's reach to 41 offices in 24 states.
"We've been talking for many years about putting the two organizations together. The time is now right for us to do so," said Chesapeake Rehab President and founder Gary Gilberti. "After a decade-long courtship, this is a great marriage of two organizations that, as one, will be able to provide an improved level of service and realize operational economies of scale. It's a true 'one-plus-one-equals-three' opportunity."
Gilberti will become president of ATG Rehab's new Mid-Atlantic region, which serves more than 35 hospitals and rehab facilities.
ATG will establish offices in the cities and states served by Chesapeake, including Baltimore, Cumberland and Salisbury, Md.; Newark, Del.; Pittsburgh, Harrisburg and Philadelphia, Pa.; Charlotte, Raleigh, Fayetteville and Wilmington, N.C.; Murrell's Inlet, S.C.; and Roanoke and Richmond, Va. The acquisition will add approximately 170 staff members, 29 of which are Chesapeake ATPs.
he deal is ATG's second acquisition in a month, and its third this year following a majority investment by Boston-based Audax Private Equity. In March, ATG acquired the complex rehab segment of Warwick, R.I.-based Vanguard Home Medical Equipment, a subsidiary of Landauer Metropolitan, and Peak Wheelchairs of Colorado with offices in Lafayette (Denver) and Windsor. In June, ATG added the complex rehab division of WestMed Rehab in Rapid City, S.D.