Yorkville Asset Management Inc has announced the acquisition of industry-leading provider of physiotherapy, massage, active rehabilitation, occupational therapy, psychological services, and multidisciplinary treatment programs, Back in Motion Health (BIM).
The company said it has acquired BIM on behalf of its Yorkville Health Care Fund and its private placement investments, Yorkville Private Equity LP and Yorkville Private Lending LP.
Based in British Columbia, BIM is dedicated to helping people live better healthier lives, providing accessible and evidence-based healthcare services for a range of customers, including individuals, WorkSafeBC, insurance companies, government, and employers.
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BIM has grown its footprint to 10 clinics across the Metro Vancouver area and its executive team brings significant industry experience and talent to continue its expansion into Ontario and other provinces, according to Yorkville.
Yorkville managing director Ralph Desando said that this investment brought with it, not only an experienced and capable management team, but a ready-made recurring revenue stream with both government and corporate long-term contracts.
“We have been actively pursuing the addition of this health care silo for some time as it is an integral part of internalization,” Desando said. “Being able to successfully find and complete an acquisition of this nature is a testament to our leadership position in the marketplace.”
BIM CEO Philippe De Clerck added: “Yorkville Asset Management has a strong history of fostering and supporting the growth of the companies in which it invests. We look forward to this new chapter of Back in Motion’s journey, and to a close collaboration with Yorkville Asset Management to drive future growth and expand the business beyond British Columbia.”
Yorkville Asset Management is a boutique investment management firm based in Toronto that caters to both private clients and institutional investors.
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