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Physical Rehabilitation Network
Physical Rehabilitation Network was founded by Brandon Greenblatt as a vehicle to consolidate outpatient physical therapy clinics across the United...
Physical Rehabilitation Network
Physical Rehabilitation Network was founded by Brandon Greenblatt as a vehicle to consolidate outpatient physical therapy clinics across the United States. The firm's wealth origin traces to its operating businesses in rehabilitation services, not inherited capital. Greenblatt serves as CEO, while Eric Santos oversees investment decisions as CIO. The firm deploys capital across three principal asset classes: direct equity in physical therapy and rehabilitation clinic operators, real estate assets supporting those clinics, and private credit facilities for expansion. It targets middle-market operators in the fragmented physical therapy sector, often acting as a platform for roll-up strategies. Confirmed positions include investments in clinic chains across California, Texas, and Florida. The firm has publicly stated that it has deployed over $500 million since inception (per public record, 2023). PRN operates from its Carlsbad headquarters with a lean team structure. The firm does not disclose total AUM or number of professionals. It maintains an affiliated philanthropic entity focused on community health access. In June 2024, PRN announced the acquisition of a multi-site rehabilitation group in the Pacific Northwest (per the firm, June 2024). PRN's structural differentiator is its direct operating-company ownership model within healthcare services — it controls clinic operations, real estate, and financing through a single entity. This vertically integrated structure allows it to capture operational margins alongside investment returns. The firm does not accept outside institutional capital and is structured as a multi-family office for its founding principals.
General information
Firm type
Multi Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Carlsbad
Corporate office
Carlsbad, CA, United States
Principals
Brandon Greenblatt
CEO
Eric Santos
Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Physical Rehabilitation Network?
Eric Santos serves as Chief Investment Officer, leading deal sourcing and portfolio construction. CEO Brandon Greenblatt also participates in strategic capital allocation decisions. The investment committee comprises senior leadership from both the operating and investment sides (per public record, 2023).
How does Physical Rehabilitation Network source proprietary deal flow?
The firm sources deals through its operating company network in physical therapy and rehabilitation. It often identifies targets through industry relationships and direct outreach to independent clinic operators. PRN also leverages its real estate holdings platform to capture integrated investment opportunities (per public record, 2023).
Is Physical Rehabilitation Network structured as a single family office or does it operate more like a venture firm?
It is structured as a multi-family office for its founding principals, but operates with a venture-like approach to deploying capital. It makes direct equity investments in operating companies, holds real estate assets, and provides private credit — similar to a family-backed holding company. It does not raise outside institutional capital (per public record).
Does Physical Rehabilitation Network participate in fund commitments or only direct deals?
PRN primarily makes direct investments in operating companies and real estate. It does not publicly report allocations to external fund managers. Its model is focused on direct control of assets rather than passive fund investments (per public record).
What investment stages does Physical Rehabilitation Network typically target?
The firm targets middle-market outpatient rehabilitation clinic operators, often acting as a platform for buy-and-build or roll-up strategies. It focuses on established operators with multiple locations seeking growth capital or succession solutions. It does not typically invest in early-stage startups (per public record).
Which sectors does Physical Rehabilitation Network explicitly avoid?
PRN has not publicly stated any explicit avoidance sectors. However, its disclosed activity is concentrated exclusively in outpatient rehabilitation, physical therapy, and related real estate assets. It has not disclosed investments in technology, energy, or financial services (per public record).
How is Physical Rehabilitation Network related to its parent or affiliated entities?
PRN operates as a stand-alone multi-family office. It is not publicly affiliated with any larger financial institution. The firm maintains an affiliated philanthropic entity focused on community health access, but does not disclose a parent operating company (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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