“Physiotherapy Associates has been an important contributor to Stryker’s growth. As we focus our efforts on the medical technology market, we believe that Physiotherapy will be even more successful under the ownership of a party focused on healthcare services. We are pleased that Water Street intends to continue Physiotherapy’s legacy of outstanding patient care. We have confidence that Physiotherapy’s employees and patients will benefit from Water Street’s leadership, experience and industry knowledge.”

Stryker collaborated with Water Street in 2007 to divest its outpatient physical therapy business, Physiotherapy Associates. Water Street has transformed Physiotherapy Associates into the nation’s foremost provider of outpatient rehabilitation services.