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Orion ICG, LLC Announces Acquisition of Cumberland Therapy Services, Inc.
Date:10/2/2007

Nation's Largest Military Recruiting and Consulting Firm Acquires

Healthcare Staffing Firm

RALEIGH, N.C., Oct. 2 /PRNewswire/ -- Orion ICG, LLC announced today that it has acquired the assets of Cumberland Therapy Services, Inc., a leading national provider of healthcare therapists and other professionals to state and local government facilities. This marks Orion's first acquisition since becoming a portfolio company of private equity firm Centre Partners in June 2007.

Founded in 1989 by licensed physical therapist A. Majeed Qasim, Cumberland specializes in the contract placement of physical therapists, occupational therapists, speech therapists and special education staff in more than 20 states across the country. The company has built an excellent reputation over its history. It has experienced significant growth, in part driven by the increase in Americans who are prone to medical conditions that result in the need for physical and speech therapy, as well as greater emphasis on early identification of speech problems in young children.

Orion Executive Chairman Jeffrey Evans said, "The addition of Cumberland is an important step in the realization of our strategic growth plan and we are extremely pleased to have made our first acquisition so quickly after forming our partnership with Centre Partners. Working together with Mr. Qasim, we believe that Orion's solid infrastructure and seasoned recruiters will help 'super-charge' Cumberland's growth and service offering. Our team is thrilled to welcome them into the Orion family."

With the acquisition of Cumberland, Orion has added Fred Davis to an executive management team with deep experience. Davis was recently the CEO of a $25 million travel nurse staffing firm and he will lead the expansion efforts at Cumberland.

Orion Chief Executive Officer Bill Laughlin said, "The combination of Cumberland's business model and Fred Davis' experience along with t
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SOURCE Centre Partners
Copyright©2007 PR Newswire.
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