Athletico

Athletico Physical Therapy is a large outpatient rehabilitation provider that operates neighborhood clinics across the United States. The company focuses on orthopedic physical therapy, occupational therapy, and a growing range of specialty services that help patients recover from injuries, surgeries, and chronic conditions. Its clinicians also support employers, athletes, and performing arts groups with programs designed to prevent injuries and help people return safely to work, sports, and everyday activities.

The business began in 1991, when physical therapist Mark Kaufman opened the first Athletico clinic in Chicago to serve student and professional athletes. What started as a single sports-focused practice has steadily broadened over the past three decades. Athletico has added services such as hand therapy, pelvic health, vestibular rehabilitation, concussion care, workers’ compensation programs, and onsite employer services, building a full outpatient musculoskeletal platform around its original orthopedic offering.

A key milestone in the company’s growth came with the acquisition of Pivot Physical Therapy, a Mid-Atlantic and East Coast operator. That transaction created a combined network of more than 900 clinics across 24 states and Washington, D.C., significantly extending Athletico’s reach beyond its Midwestern roots. As integration has progressed, locations operate under the Athletico name or in some cases co-branded as Pivot, an Athletico company, while maintaining a consistent neighborhood-clinic approach.

As of November 2023, Athletico operates roughly 900 clinics across its multi-state footprint. The company employs several thousand clinicians and support staff and is backed by majority owner BDT & MSD Partners, a private equity firm. Private ownership has supported an active pipeline of both new clinic openings and acquisitions, helping Athletico grow in existing territories and enter adjacent regions.

Over the past five years, Athletico has evolved from a primarily Midwestern operator into a national platform with a strong presence in the Midwest, Mid-Atlantic, East Coast, and Southeast. Expansion has focused on building density in established metropolitan areas while filling gaps in suburban and secondary markets where access to outpatient therapy is in demand. New clinics are typically neighborhood based and fit into small to mid-size footprints in retail corridors and community medical settings, making Athletico a flexible user of space in grocery-anchored centers, neighborhood strips, and medical office buildings.

For landlords, brokers, and developers, Athletico functions as a repeat, service-oriented healthcare tenant with scale, brand recognition, and a track record of continued growth. Clinics are generally built around open treatment and exercise areas rather than heavy medical infrastructure, which can make them a good fit for second-generation retail or medical space. The company’s broad insurance participation and steady referral networks help support patient volume, positioning Athletico as a stable, traffic-driving occupant across a wide range of urban and suburban trade areas.