Takeaway: We'll have this interview with ATI Physical Therapy Management back on the calendar ASAP...

We have to reschedule our interview with the leadership at ATI Physical Therapy that we had scheduled for tomorrow, 6/16, at 12:30 PM ET. We're looking forward to finding a time that works following the completion of the de-SPAC. FAII remains a Best Idea on the long side, and we'll follow up with a new date/time for the Q&A with Labeed and Joe as soon as possible.

Discussion topics:

    • ATI's business foundation - one brand with solid infrastructure and great talent, combination with FVAC II/Fortress
    • 1Q21+April recap/highlights - visit volume trend and drivers
    • Differences between ATI, USPH, and others - PT is a highly fragmented market
    • De Novo and M&A opportunities - a multi-pronged strategy w/ "Acqui-Novos" and the potential for middle-market PE-backed and/or local/regional deals (update on valuations, what's baked into guidance)
    • ATI's site selection process and white space
    • eVisits - virtual PT
    • Direct-to-employer deals - ATI First - and how to think about that opportunity as the US Medical Economy moves toward value-based, at-risk arrangements

    About the Speakers

    Rescheduling 6/16 Management Interview | FAII / ATI Physical Therapy - Date/Time TBD - 6 2 2021 ATI Management

    Labeed Diab, RPh, joined ATI Physical Therapy as its Chief Executive Officer (CEO) in February 2019. A seasoned business executive, Mr. Diab brings a successful track record of effectively combining strategy, business development and operations in the emerging retail healthcare space. As CEO, Mr. Diab is responsible for all aspects of the organization’s success, from growth and development to clinical operations and all support functions. Mr. Diab comes to ATI from Humana Pharmacy Solutions where he served as President, managing all capabilities that comprise Humana Pharmacy Solutions.

    Prior to Humana, he served as the Chief Operating Officer and Executive Vice President at Brookdale Senior Living, accountable for the profitability and performance of the firm’s 1,150 locations across 47 states. Prior to joining Brookdale in 2015, Mr. Diab served in various executive leadership roles for Walmart Inc. since 2009. While at Walmart he served as its President of Midwest Division and its Vice President and General Manager, departing the organization as its President of Health and Wellness. Prior to his tenure at Walmart, he served as Regional Vice President of Aramark's Health Care Division and as Regional Vice President for Rite Aid Corporation.

    A Registered Pharmacist, Mr. Diab began his career as a Pharmacy Manager with American Stores Company (Jewel-Osco) and later served in regional roles for CVS Caremark. He holds a Bachelor of Science degree in Pharmacy from Southwestern Oklahoma State University and has completed an advanced management program from the Duke University Fuqua School of Business. Mr. Diab serves on the Board of Directors of Lurie Children's Hospital in Chicago.

    Joseph Jordan was named the Chief Financial Officer for ATI in February 2019, bringing a background of leadership in accounting, financial reporting and tax functions across several retail and management consulting organizations. Prior to assuming his role as Chief Financial Officer, Jordan came to the organization in 2018 as its Senior Vice President and Controller.

    In his various leadership roles, Jordan has worked with a variety of multinational public companies, overseeing corporate accounting, finance, tax, external and SEC reporting. In addition to his role as Corporate Controller at Sears, he served as Assistant Controller for Suncoke Energy. Jordan began his career at Deloitte & Touche, LLP and is a graduate from Purdue University with a Bachelor’s of Science in Accounting.

    Please send any questions for Labeed, Joseph, and Tom to .

    We hope you can join us! 

    Thomas Tobin
    Managing Director


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    Justin Venneri
    Director, Primary Research


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    William McMahon
    Analyst


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