ACQUIRED · 2025
Who Acquired ATI Physical Therapy, Inc.?
Knighthead Capital Management and Marathon Asset Management · $523.2M· 11.2× EBITDA
The acquisition
ATI Physical Therapy, Inc. was acquired by Knighthead Capital Management and Marathon Asset Management in 2025 for $523.2M. The deal was priced at 11.2× EBITDA / 0.70× revenue.
ATI Physical Therapy, Inc. at time of acquisition
Revenue
$746.6M
EBITDA
$46.7M
Deal value
$523.2M
EV / EBITDA
11.2×
Similar physical therapy acquisitions
- Industrial Injury Prevention Company · acquired by U.S. Physical Therapy, Inc. in 2026 · $21.6M
- ATI Physical Therapy · acquired by Knighthead Capital Management / Marathon Asset Management Consortium in 2025 · $522.2M
- Outpatient Home Care Physical and Speech Therapy Practice · acquired by U.S. Physical Therapy, Inc. in 2025 · $2.9M
- Physical Therapy Practice · acquired by Grant Memorial Hospital in 2025 · $0.5M
- Spine & Sport Physical Therapy · acquired by Physical Rehabilitation Network in 2025 · $110.0M
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Sourced from Press releases and earnings releases. Full deal page.
Citation: ExitValue.ai. (2025). ATI Physical Therapy, Inc. acquired by Knighthead Capital Management and Marathon Asset Management. https://exitvalue.ai/acquired/ati-physical-therapy-inc