Fremman Capital-backed rehaneo agrees to acquire majority stake in TopzorgGroep

rehaneo, a Germany-based outpatient rehabilitation and therapy group backed by Fremman Capital, has agreed to acquire a majority stake in TopzorgGroep from Capital A and Holding Fysiotherapie Van Loo & Veerhoek. Financial terms were not disclosed. The transaction marks rehaneo's entry into the Dutch market.

TopzorgGroep traces its physiotherapy roots to 2002 and combines paramedical care, multidisciplinary rehabilitation, preventive wellbeing and occupational health services. It has completed more than 50 acquisitions since partnering with Capital A in 2019, including FysioHolland. The group employs more than 1,100 full-time equivalents and treats over 170,000 patients a year across about 220 clinics and 420 external care locations. It generated revenue of about €120m in FY25.

rehaneo founder and CEO Bruno Crone said TopzorgGroep is an excellent strategic and cultural fit, and that the combination would help develop a broader European rehabilitation and therapy group. Houlihan Lokey acted as sole financial adviser to the shareholders.