Athletico

What Athletico does

Athletico Physical Therapy is one of the largest outpatient physical and occupational therapy providers in the United States, operating more than 900 owned-and-operated clinic locations across 24 states and Washington, D.C. Founded in 1991 by Mark Kaufman, the company is headquartered in Oak Brook, Illinois, and is backed by private equity sponsor BDT Capital Partners. It serves individual patients seeking rehabilitation for musculoskeletal conditions, workers' compensation and occupational health clients (through its Work4U employer program), professional and collegiate sports organizations (including the Chicago Bears, Iowa Wild, Big Ten Conference, and several ballet companies), and academic institutions through clinical education partnerships.

The service portfolio spans core outpatient physical therapy, occupational and hand therapy, workers' compensation case management, athletic training, and over 50 specialty programs (pelvic health, concussion and vestibular, pediatric therapy, back pain/spine, pain therapy, and home therapy), delivered in person at clinic locations and through a telehealth virtual visit platform. Technology components include the my.athletico.com patient portal, a free 30-minute assessment funnel, partnerships with Limber Health for remote therapeutic monitoring and a mobile app (September 2024), FOTO for standardized functional outcomes measurement, and Exxat One for managing student clinical placements across the network (launching January 2026).

Athletico generates revenue primarily on a fee-for-service basis through insurance billing for outpatient therapy visits, supplemented by workers' compensation services, employer onsite and Work4U contracts, telehealth visit fees, and Good Faith Estimates for uninsured self-pay patients. Distribution runs through the owned clinic network, employer enterprise sales, telehealth self-serve scheduling, and brand-building sports and community partnerships. As of June 2025, Athletico Holdings carried approximately $955 million in senior secured debt, and in June 2026 the company entered into a comprehensive recapitalization with stakeholders to substantially deleverage the balance sheet.

Name

Athletico

Legal name

Athletico Management, LLC

Website

https://athletico.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Athletico is a privately held outpatient physical and occupational therapy provider operating more than 900 clinics across 24 states and Washington, D.C., serving individual patients, employers, professional and collegiate sports organizations, and academic institutions with rehabilitation, workers' compensation, telehealth, and digital health services.

Ownership category

akta.pro rank

Product category

Outpatient Physical and Occupational Therapy Services

NAICS

Offices of Physical, Occupational and Speech Therapists, and Audiologists (62134), Offices of Physical, Occupational and Speech Therapists, and Audiologists (621340)

SIC

Services-Specialty Outpatient Facilities, Nec (8093), Services-Health Services (8000), Services-Home Health Care Services (8082)

akta.pro primary industry

Orthopedic & Sports Rehabilitation Centers (HLAFAFAI)

akta.pro secondary industries

Sports Physical Therapy & Return-to-Play Rehab (HSADAIAB), Rehabilitation Return-to-Exercise Training (Non-Clinical) (HSADAAAK), Sports Rehabilitation, Return-to-Play & Performance Therapy Centers (MPAKAJAO)

Keywords

• Outpatient physical therapy
• Occupational hand therapy
• Workers compensation rehabilitation
• Sports medicine therapy
• Telehealth rehabilitation

Headquarters

HQ city

Oak Brook

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D, Infrastructure

Revenue model

1. Outpatient Physical Therapy Services: Fee-for-service revenue from physical therapy, occupational therapy, and specialty rehabilitation services provided at clinic locations. Revenue generated through insurance billing and patient payments.
2. Workers' Compensation Services: Physical therapy and rehabilitation services for work-related injuries covered under workers' compensation insurance, including work conditioning, ergonomics assessments, and post-offer pre-employment testing.
3. Telehealth/Virtual Visits: Virtual physical therapy consultations and remote therapeutic monitoring through secure video platform, providing flexible care delivery options.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Athletico operates an outpatient physical and occupational therapy network delivering in-clinic rehabilitation, telehealth virtual visits, workers' compensation (Work4U), athletic training, and specialty programs (pelvic health, concussion management, spine, pain therapy, hand therapy, home therapy, pediatric therapy) to individual patients, employers, and sports organizations across 24 states and the District of Columbia.

Product overview

Athletico Physical Therapy is a leading outpatient physical and occupational therapy provider offering a comprehensive suite of rehabilitation services across more than 900 locations in 24 states and Washington, D.C. The company operates as a single integrated healthcare delivery platform combining core physical therapy services (outpatient physical therapy, occupational/hand therapy, work injuries/workers' compensation, athletic training) with specialty programs (pelvic health, spine/back pain, concussion management, pediatric therapy, pain therapy) and advanced treatment techniques (Graston, blood flow restriction, dry needling). The service portfolio is enhanced by digital health capabilities including telehealth virtual visits, a patient portal, and partnerships for remote therapeutic monitoring. With the acquisition of Pivot Physical Therapy, Athletico has expanded its geographic footprint and now serves as the official physical therapy partner for various professional sports teams and collegiate organizations.

Differentiator

Problem solved

Functional benefit

Products and services

• Outpatient Physical Therapy Core physical therapy services treating back and neck pain, muscle strains and sprains, joint injuries, and sports-related injuries to restore mobility and reduce pain. Available to individual patients seeking rehabilitation services.
• Telehealth Virtual Visits Virtual physical therapy appointments via secure online video chat enabling patients to receive assessment and treatment remotely from licensed physical or occupational therapists.
• Occupational/Hand Therapy Specialized therapy services for hand and upper extremity conditions, including treatment for carpal tunnel syndrome and ergonomic issues.
• Work Injuries (Work4U) Workers' compensation services including work conditioning, ergonomics assessment, post-offer/pre-employment testing, and injury treatment for workplace incidents. Targeted at employers and workers' compensation insurance carriers.
• Athletic Training Sports medicine and athletic training services provided to schools, sports teams, and athletic organizations for injury prevention and performance.
• Concussion & Vertigo/Vestibular Therapy
• Pelvic Health Therapy Pelvic floor rehabilitation services addressing pelvic pain, incontinence, and related conditions for men and women.
• Back Pain/Spine Specialty Specialized spine health program focusing on treatment and management of back pain and spinal conditions.
• Home Therapy Services Physical therapy services delivered in patients' homes for those unable to travel to clinic locations.
• Pediatric Therapy Physical therapy services designed for children addressing developmental, neuromuscular, and orthopedic conditions.
• Pain Therapy Chronic pain management program using evidence-based approaches including pain neuroscience education and targeted interventions.
• Free Assessment Complimentary 30-minute injury assessments by licensed healthcare professionals without requiring prescription or referral.
• Specialized Services Bundle Over 50 specialty services including endurance rehabilitation, golf rehabilitation, ACL 3P program, functional movement screens, and TMJ/TMD therapy, plus advanced techniques such as Graston Technique, HawkGrips instrument-assisted therapy, blood flow restriction rehabilitation, dry needling, and McKenzie method.
• Direct Access Physical Therapy Physical therapy services available without physician referral or prescription in most states, enabling patients to start treatment directly.
• Limber Health Digital Solutions Hybrid healthcare model partnering with Limber Health to provide mobile app and remote therapeutic monitoring, connecting in-clinic therapy with digital solutions.
• Exxat One Clinical Education Platform Student placement management platform implemented across Athletico's network for streamlining clinical education and student rotation logistics.

Quantifiable outcome

• 98% of patients would recommend Athletico
• +1 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered minor, core and major.

• Friend of a MomminorStrategic or Co-development Partner · 2 March 2026Partnership to support maternal health initiatives.
• ExxatcoreTechnology or Integration · 16 October 2025Exxat partnership to implement Exxat One platform for managing student clinical placements across Athletico's network of over 900 locations. Collaboration aims to streamline educational processes and support workforce development in healthcare. Launch scheduled for January 2026.
• Fleet Feet ChicagominorGTM or Marketing Partner · 26 March 2025Exclusive partnership with leading running specialty retailer in Chicago area to provide physical therapy services to runners.
• Big Ten ConferencecoreStrategic or Co-development Partner · 23 October 2024Partnership on Football's Independent Medical Spotter Program. Virtual medical observation during games improves student-athlete safety.
• Limber HealthcoreTechnology or Integration · 10 September 2024Strategic partnership to deploy digital health solutions across Athletico's network of over 900 clinics. Partnership involves launching mobile app and remote therapeutic monitoring to enhance patient care and outcomes through hybrid healthcare models.
• Ballet Des MoinesminorStrategic or Co-development Partner · 5 September 2024Partnership to provide physical therapy services to the professional ballet company.
• PicklePlayminorGTM or Marketing Partner · 23 January 2024Exclusive partnership to provide physical therapy services to the growing pickleball community.
• Grand Rapids BalletminorStrategic or Co-development Partner · 7 November 2023Partnership to provide physical therapy services to the professional ballet company.
• Pivot Health SolutionsmajorStrategic or Co-development Partner · 16 February 2022PennantPark sold its portfolio company Pivot Health Solutions to Athletico Physical Therapy. Pivot provides physical therapy and occupational health services. The acquisition expanded Athletico's footprint in the healthcare services sector.
• Carson Physical Therapy of BryantminorStrategic or Co-development Partner · 11 January 2022Acquisition of Carson Physical Therapy of Bryant expanding Athletico's presence in Arkansas.
• Therapy Specialists of OklahomaminorStrategic or Co-development Partner · 11 January 2022Acquisition of Therapy Specialists of Oklahoma increasing Athletico's locations in Oklahoma.
• FOTO (Focus on Therapeutic Outcomes)coreTechnology or Integration · 28 March 2011Partnership with Focus on Therapeutic Outcomes, Inc. to measure functional patient outcomes and patient satisfaction.
• Arthritis FoundationminorGTM or Marketing Partner · 29 May 2010Early partnership supporting arthritis awareness and patient education initiatives.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• U.S. Physical Therapy: Public operator of ~600+ outpatient PT clinics through a mix of wholly owned and joint venture partnerships, with comparable industrial therapy, sports medicine, and workers' comp services.
• Drayer Physical Therapy Institute: Outpatient PT chain operating hundreds of clinics nationwide, now a subsidiary of Upstream Rehabilitation; competes directly with Athletico in orthopedic and sports rehabilitation.
• Upstream Rehabilitation: Private outpatient PT platform owning multiple regional brands (Drayer, BenchMark, Results) with several hundred clinics; PE-backed competitor pursuing similar clinic rollup strategy.
• Ivy Rehab Network: Privately held outpatient PT and OT chain with hundreds of locations across the Eastern U.S., offering core PT plus specialty programs in pediatrics, orthopedics, and sports medicine.
• ATI Physical Therapy: One of the largest U.S. outpatient physical therapy chains, operating hundreds of clinics across multiple states with similar insurance-based, multi-specialty PT/OT service offerings as Athletico.
• BenchMark Physical Therapy: Multi-state outpatient PT chain within the Upstream Rehabilitation family, providing orthopedic, sports, and hand therapy comparable to Athletico's service mix.
• PT Solutions: Private outpatient physical therapy practice with national footprint, offering comparable orthopedic, sports, and pediatric therapy services including industrial/workers' comp programs.

Broad incumbents

• Concentra Group Holdings: Occupational health and workplace services provider with extensive clinic network and workers' comp focus; directly comparable to Athletico's Work4U employer services line.
• Select Medical Holdings: Large public healthcare services company operating outpatient rehab (NovaCare), inpatient rehab, and critical illness recovery hospitals, overlapping with Athletico in PT services but with a much broader portfolio.

Regional players

• Professional Physical Therapy: Northeast-focused outpatient PT chain offering orthopedic, sports, and occupational therapy; comparable service model but limited geographic overlap with Athletico's Midwest-anchored footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/AthletiCo
• YouTubeyoutube.com/user/ath625
• Facebookfacebook.com/athleticopt
• LinkedInlinkedin.com/company/athletico
• Instagraminstagram.com/athletico_pt
• Pinterestpinterest.com/athletico_pt
• TikToktiktok.com/@athletico_pt

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Athletico