CORA Health Services, Inc., doing business as CORA Physical Therapy (“CORA”), a top-10 national operator of outpatient physical therapy clinics, announced the appointment of Kurt M. Baumgartel, MPT as Chief Executive Officer.
Baumgartel is a seasoned health care executive with more than 20 years of experience building and scaling health care businesses and is known for identifying and executing on strategic growth opportunities, enhancing operations, improving profitability, and empowering people to succeed. He succeeds Dennis R. Smith, CORA’s former CEO, who retired earlier this year.
“Kurt has a tremendous history of leading health care businesses to deliver excellent clinical care, driving growth and establishing partnerships throughout the health care ecosystem,” said Alok Sanghvi, Managing Director at HIG. “His strategic focus, deep understanding of the physical therapy sector and experience developing talent throughout all levels of an organization are perfectly aligned with CORA’s mission and vision.”
Baumgartel’s most recent role was as Executive Vice President for Home-Based Care at Compassus, one of the largest post-acute health care providers in the U.S. with nearly 6,000 colleagues in more than 200 locations across 30 states. Before moving into the home-based care segment of the industry, Baumgartel practiced as a physical therapist after having received his Master’s in Physical Therapy from John G. Rangos School of Health Sciences at Duquesne University in Pittsburgh, Pa.
“I am extremely honored and excited to join the CORA family and return to the physical therapy profession,” said Baumgartel. “CORA’s history, passionate leadership team, inspiring clinicians and employees demonstrate a steadfast commitment to serving everyone. I am excited to partner with our teams to improve our already outstanding care delivery, culture, relationships and growth across the communities we serve.”
CORA operates clinics in Florida, Georgia, Illinois, Kentucky, Missouri, North Carolina, South Carolina, Tennessee, Virginia and Wisconsin, including specialty clinics under the Body Gears brand. CORA continues its growth having recently opened its 255th location with plans for additional openings forthcoming.
“This full-circle moment highlights that physical therapy is truly a service where we can care for all,” added Baumgartel. “And as we continue our expansion plans, I look forward to working with the team to innovate our model, unlock future growth opportunities and expand the ‘serve all’ approach to physical therapy that CORA has become know for in the industry.”
CORA is a portfolio company of H.I.G. Capital, a leading global alternative investment firm with over $53 billion of equity capital under management.
For more information on CORA, please visit coraphysicaltherapy.com.
About CORA
CORA Health Services, Inc./CORA Physical Therapy (www.coraphysicaltherapy.com) is an outpatient rehabilitation company that uses proven clinical practices and cost-effective treatment protocols to return patients to their jobs and lifestyles as soon as possible. Their clinics offer a complete range of treatment, including outpatient physical therapy and general rehabilitation, worker’s compensation therapy, sports and auto injury rehabilitation, and rehabilitation for seniors. CORA operates more than 250 clinics in Florida, Georgia, Illinois, Kentucky, Missouri, North Carolina, South Carolina, Tennessee, Virginia and Wisconsin, including specialty clinics under the Body Gears brand.
H.I.G. is a leading global private equity and alternative assets investment firm with over $44 billion of equity capital under management*. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid‐sized companies, utilizing a flexible and operationally focused / value‐added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please visit www.higcapital.com.
