TopzorgGroep acquires FysioHolland, becomes Netherlands’ largest physiotherapy provider
TopzorgGroep has acquired FysioHolland, a chain of about 100 physiotherapy practices. With the acquisition, TopzorgGroep has absorbed one of its major competitors in physiotherapy, De Telegraaf reports.
Backed by a private investor, the healthcare organization has completed more than 50 acquisitions since 2019 and is now the largest provider of physiotherapy in the Netherlands, positioning the group as a major player in the healthcare sector.
Earlier this year, it paid between 5 and 6 million euros to acquire Intraverte, a national organization with 180 locations providing multidisciplinary youth care.
The acquisition involves “several million” euros, the company said. Following this latest deal, TopzorgGroep now operates roughly 600 locations across the country.
“Our goal is nationwide coverage: we want a location within a 30-kilometer radius where our services are available,” said CEO and founder Ivo van Loo. “We’re almost there. Only in Groningen and Friesland do we have limited presence. In North Holland, we still have some ground to cover.”
In addition to physiotherapy, the group offers medical specialist rehabilitation, occupational health services, occupational therapy, exercise therapy, psychological care, lifestyle coaching, and company health services.
The group is also increasingly focusing on occupational health services, said Iris van Weel, healthcare director at Deloitte. “Employers have a strong interest in keeping employees healthy and fit, so they increasingly partner with occupational health services that provide wellness programs for their staff,” she said.
“Employers make a deal with the healthcare provider for the care of a few hundred employees. That is a steady source of income, which is very different from an individual booking a few appointments through supplemental health insurance,” she explained.
Founder Van Loo and his wife opened their first physiotherapy practice in 1992. Later, they expanded to several locations in Zeeland.
In 2019, the couple partnered with Capital A, the investment fund of ABN Amro, to grow nationally and strengthen their position in negotiations with health insurers over reimbursements.
Industry insiders say Capital A plans to exit soon. “It’s likely they will sell in the near future,” Van Weel said. “This is a typical move for private equity funds. After five to ten years, such a fund seeks to sell its stake with a good return.”
Van Loo said he cannot comment on that. He confirmed, however, that there is strong interest from other investors in joining his company.
Van Weel would not be surprised if TopzorgGroep partners with a foreign company soon. “At some point, you’ve done all you can in the Netherlands. To continue growing, you have to cross the border,” she said.
