Pivot Health Solutions, a provider of physical therapy, corporate wellness and occupational health services with two million patient visits in 2018, announced that various investment funds affiliated with PennantPark Investment Advisers will invest $25 million in the company while existing lenders have reaffirmed their commitment to the business.

New CEO Chris Throckmorton, former CEO of IntegraMed Fertility, North America’s largest fertility practice, will lead the re-capitalized company beginning Oct. 1. Pivot’s new equity investment will support its expansion of physical therapy practice locations centered in the mid-Atlantic and a new corporate health services division launched in the fourth quarter of 2018. The company will also target acquisitions to accelerate its growth.

“With this injection of growth capital, Pivot will be an even stronger player in an industry projected to have 28 percent job growth over a 10-year span according the U.S. Bureau of Labor Statistics,” Throckmorton said. “I believe we are well positioned to take advantage of anticipated trends in demographics, population health and new recovery methods that will demand increased services to help patients return to work and normal activity as soon as possible.”

At Pivot, Throckmorton will lead a Towson-based company with 2,900 employees and 265 physical therapy clinics in six states and the District of Columbia. That includes 68 in Maryland, including four offices in Columbia, two in Glen Burnie and others in Ellicott City, Laurel, Bowie, Annapolis and Gambrills.