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Audax buys rehabilitation services provider from 3 Rivers Capital

Audax Group, through its private equity arm, bought Phoenix Rehabilitation and Health Services, Inc. for an undisclosed sum.

Private equity firm 3 Rivers Capital LLC was the seller.

Blairsville, Pa.-based Phoenix is a privately held network of outpatient rehabilitation centers with more than 80 locations across the U.S. mid-Atlantic and Southeast. Audax Group is an alternative asset management firm that invests in middle-market companies.