ATI Physical Therapy, Inc.: management transactions · United States · SEC (Form 4)

About ATI Physical Therapy, Inc.

ATI Physical Therapy, Inc. (NYSE: ATIP) is a U.S.-based outpatient rehabilitation company focused on musculoskeletal care and physical therapy services. The company is listed on the NYSE in the United States and is headquartered in Bolingbrook, Illinois. ATI traces its roots back to 1996, when it began as a single clinic in Willowbrook, Illinois. Since then, it has expanded into a national platform and now presents itself as one of the largest single-branded outpatient physical therapy providers in the United States. Its core competitive message centers on standardized clinical guidelines, operating discipline, and a consistent patient experience across a broad clinic network.([atipt.com](https://www.atipt.com/about?utm_source=openai)) From a business-line perspective, ATI’s main revenue engine is in-clinic physical therapy, but the company also offers adjacent rehabilitation and prevention services. These include workers’ compensation rehabilitation, sports medicine, employer worksite solutions, and specialty therapies. ATI also markets hybrid and virtual care through its CONNECT platform, allowing patients to access online or blended treatment pathways when in-person care is not practical. This mix broadens ATI’s addressable demand across patients, employers, athletes, and occupational-health channels, while keeping the company anchored in the outpatient rehabilitation market.([atipt.com](https://www.atipt.com/about?utm_source=openai)) ATI’s market position is built on scale and brand recognition in a highly fragmented industry. The company says it operates more than 850 locations, with recent disclosures and company materials referring to roughly 884 to 900 clinics across 24 states, plus virtual care and certain on-campus or client-site programs. That footprint gives ATI a national presence in the United States and supports relationships with referral sources, health systems, employers, and sports organizations. Its single-brand model is a strategic advantage relative to smaller regional operators, especially when combined with digital delivery, clinical standardization, and centralized support functions.([atipt.com](https://www.atipt.com/about?utm_source=openai)) Recent news has been dominated by balance-sheet and liquidity actions. In March 2025, ATI announced a $26 million second-lien PIK convertible note financing, highlighting ongoing financial flexibility initiatives. The company’s 2025 annual report also references large share repurchases and restructuring-related charges in recent periods, including costs tied to European and domestic cost-reduction actions. For investors, that means ATI is not just a healthcare services story; it is also a company in transition, balancing operational recovery, network optimization, and capital-structure management after a period of financial stress.([nasdaq.com](https://www.nasdaq.com/press-release/ati-physical-therapy-closes-26-million-8-second-lien-pik-convertible-note-financing?utm_source=openai))