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Warburg Pincus buying majority stake in rehab therapy platform

Private equity firm Warburg Pincus LLC agreed to buy a majority stake in WebPT Inc. from Battery Ventures.

The investment is expected to help WebPT grow and advance its product suite for the physical therapy industry.

WebPT co-founder Heidi Jannenga will maintain ownership interest and become chief clinical officer and continue to advise on the company's strategic direction and product innovation.

Aeris Partners was the exclusive financial adviser to WebPT and Battery Ventures.