Outpatient therapy is one of the most resilient segments in healthcare. Speech, occupational, and physical therapy are essential services, largely insulated from economic cycles, and demand continues to climb. Yet the market remains highly fragmented, made up of thousands of small, independently owned practices that often lack the infrastructure to grow.
Florida sits at the center of this opportunity. The state combines two powerful demographic tailwinds: one of the fastest-growing populations of young families in the country, driving demand for pediatric speech and occupational therapy, and a rapidly aging population fueling demand for physical and rehabilitative care. Across both, the need consistently outpaces the available supply of qualified clinicians and clinic capacity.
This is the heart of our thesis. Well-run therapy practices are frequently constrained not by demand, but by capacity. Waitlists are common, and many strong clinics simply lack the infrastructure, staffing pipeline, and capital to expand. That dynamic, strong and growing demand meeting a fragmented, under-resourced supply, is precisely the gap Rexford is built to close, and the foundation of an attractive, durable investment opportunity.