Hamilton Physical Therapy
Partners gain financial security . . . and peace of mind

For individuals with physical limitations, rehabilitation may be essential to their quest for independence and optimal daily living. Whether healing traumatic injury or battling chronic disease, the process aims to restore patients’ highest levels of functioning and help them achieve their goals of recovery. Hamilton Physical Therapy has been serving that vital role for more than 25 years. Independently owned and operated by licensed physical therapists, this community-based practice takes pride in its steadfast commitment to offering personalized, exceptional quality care to its burgeoning clientele.

“Our goal, and our passion, is to deliver extraordinary physical therapy with a compassionate, hands-on program that reflects the highest standards of professionalism while addressing each patient’s unique needs,” asserted Richard J. Roscoe, PT, CHT, Chief Executive Officer and shareholder, Hamilton Physical Therapy.

Since opening its doors in 1978, Hamilton Physical Therapy has steadily expanded its practice throughout Mercer, Gloucester, Bucks and Camden counties. This well-established rehabilitation leader currently maintains three state-of-the-art facilities in Hamilton, Ewing Township and Sewell, as well as a regional home care service offered through certified home health agencies. The locations treat hundreds of outpatients on a daily basis, with the home care division logging an additional 1,000 visits each month. The result is a total annual volume exceeding 65,000 patient encounters. It was this remarkable growth that led Hamilton Physical Therapy to Bartolomei Pucciarelli, LLC, a full-service business advisory and CPA firm based in Lawrenceville, New Jersey.

Challenged by widening responsibilities, two of the practice’s six shareholders, Mr. Roscoe and Frederick A. York, PT, attended a series of Bartolomei Pucciarelli’s business development seminars. A local bank had invited them to the programs highlighting internal process improvement, client and staff retention, marketing, cash flow management and other business growth strategies.

“We were very impressed with Bartolomei Pucciarelli, and gained a lot of valuable information from their presentations,” stated Mr. Roscoe. “They were building experiences for us as a company and as owners, encouraging us to think of our practice as a business entity rather than a job we created for ourselves.”

As Hamilton Physical Therapy attracted greater attention within the health care industry, its partners recognized the need for a business valuation.“While we are not interested in selling the business, we are certainly interested in knowing its value,” said Mr. Roscoe. Bartolomei Pucciarelli immediately came to mind, as they were familiar with the firm’s expertise in this particular area as well as its breadth of business advisory services. The managing partners met with Douglas Smith, CPA, a Certified Valuation Analyst, to discuss short- and long-term objectives for both the business and its shareholders. The team emerged with a visionary, multi-dimensional plan of action that not only measures the assets of the organization, but also safeguards its future financial security.

Bartolomei Pucciarelli conducted a thorough initial valuation that accurately determined the present worth of the business, then developed a customized formula for subsequent appraisals. “We created a model that could be implemented, by any of the shareholders, to calculate the worth of the business at any point in time,” explained Mr. Smith. “It is critical for proprietors to know whether their business is growing or declining in value, so they can make necessary adjustments and ensure it is financially sound. In the case of Hamilton Physical Therapy, we took it a step further by using the valuation as a tool for succession planning.”

Bartolomei Pucciarelli connected Hamilton Physical Therapy with two specialized attorneys who restructured the practice’s shareholder agreement to incorporate the valuation formula.“Their contacts enabled us to get the support of other excellent professionals who could help us attain our goals,” said Mr. Roscoe.“Our new agreement affirms that everything is in place should a partner decide to retire or exit the business — and eventually that will happen. We know the practice can continue during transition periods and remain financially viable.” Most importantly, the partners rest easier knowing their livelihoods, their families and their futures are protected.

“Now we can re-direct our energies to other things, like growing the business,” added Mr. Roscoe. He and his associates have retained Bartolomei Pucciarelli for annual business valuations and are interested in exploring more of the firm’s business advisory services.“Bartolomei Pucciarelli has been a great partner for our practice. They are professional, knowledgeable, accessible, resourceful, and very comfortable to work with,” asserted Mr. Roscoe.“We look forward to their ongoing counsel as we take our business to the next level.”

BUSINESS VALUATION

As you know, business value grows when it is successful and declines when it is struggling. To measure success, regular monitoring through periodic valuations is an invaluable process.

Since your business is one of your primary assets, it's important to know whether it’s growing or declining in value at all times.

This ultimately helps increase your business' value more quickly because timely tracking of its status will signal when adjustments should be made. After all, what you can measure, you can manage.

The valuations that we prepare are also used for various other purposes, including:

  • Estate planning
  • Succession planning
  • Tax planning