Physiotherapy Holdings Looks To Rehab Debt In Ch. 11

Law360, Wilmington (November 12, 2013, 10:12 PM ET) -- Private equity-owned Physiotherapy Holdings Inc. entered Chapter 11 in Delaware bankruptcy court on Tuesday, armed with a prepackaged reorganization plan designed to help the network of physical therapy centers shed roughly $231 million in debt.

The Pennsylvania-based company, which provides outpatient physical therapy services through clinics across the country, listed about $375 million in funded debt and between $500 million and $1 billion in assets, according to court filings.

Acquired by Court Square Capital Partners II LP in 2012, Physiotherapy Holdings began looking to deleverage its...
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