Enlyte Acquires Therapy Direct from Upstream Rehabilitation
Deal presents a natural extension of Enlyte’s services in the P&C industry
SAN DIEGO, Calif.—Enlyte, a leader in cost containment technology, provider networks, clinical services, pharmacy benefit management (PBM), and disability management, announced it has finalized its acquisition of Therapy Direct, a national physical therapy provider network, from Upstream Rehabilitation Inc.
The acquisition offers a natural extension of Enlyte’s position as a market leader in provider network access, care management and workers’ compensation services. For Tennessee-based Therapy Direct, the deal provides a greater investment of its national network of physical therapy providers including physical therapy, chiropractic and acupuncture services in 48 states.
The Therapy Direct team, led by President Michael Henry, will be integrated into Enlyte’s network organization over the next several months, illustrating Enlyte’s continued investment in provider networks like Coventry and Apricus, Enlyte’s specialty network provider.
“Enlyte is pleased to be working together with Therapy Direct to bring physical therapy to the Enlyte ecosystem,” said Alex Sun, CEO of Enlyte. “This acquisition reinforces our ongoing commitment to customers to provide quality casualty solutions and services in response to their growing needs. Through our investment in Therapy Direct we will expand the breadth of Enlyte’s clinical services with the deepest understanding of our industry and significantly build upon our network offerings.”
“We’re very excited about becoming part of the Enlyte family,” said Henry. “It allows our customers to continue receiving the type of concierge service they have come to expect, with the benefit of enhanced network and platform resources from Enlyte.”
The financial terms of the transaction will not be disclosed.
Enlyte (www.enlyte.com) is a family of businesses that include Mitchell, Genex and Coventry, leaders in cost-containment technology, independent medical exams (IME), provider and specialty networks, case management services, pharmacy benefit and disability management. The Enlyte businesses align their joint industry expertise and advanced technology solutions in a combined organization of nearly 6,000 associates committed to simplifying and optimizing property, casualty and disability claims processes and services.
About Therapy Direct
Therapy Direct is a subsidiary of Upstream Rehabilitation Inc. Founded by physical therapists, Therapy Direct offers a national network of therapists and care coordinators with a proven record of reducing time away from work and medical spend, helping injured employees return to work in a safe and efficient manner. Through innovation and customization, Therapy Direct provides industry excellence in centralization of services, continuous communication, metric driven results and cost reduction.