The transaction represents the second investment of Genesis Capital’s latest fund, Genesis Private Equity Fund V, with the current size of EUR 275 million. The investment, the first in the healthcare industry, is being made together with the company’s existing management team, which will stay on board and is fully committed to develop the business further. Together, the partners will support the company’s continued growth and further develop its strategy, which is based on an individualised approach to patients and the application of comprehensive treatment methods. In addition, the investment seeks to further strengthen the company’s position as a leader in innovative rehabilitation on the Czech market. Completion of the transaction is subject to approval by the Czech competition authority.
Fyzioterapie s úsměvem is one of the largest groups of rehabilitation centres in the Czech Republic. The company provides comprehensive and individualised healthcare services in the fields of physiotherapy and rehabilitation and physical medicine through an integrated care model that combines initial diagnostics with modern, tailor-made therapeutic approaches. It currently operates a group of 10 modern outpatient clinics and 13 local facilities across four key regions – Prague, the Hradec Králové, Pardubice and South Bohemian regions. The company has a team of over 200 physiotherapists and provided care to 45,000 patients in 2025.
“We see Fyzioterapie s úsměvem as a high-quality and dynamically growing platform with a clear vision for further expansion. The company is built on strong professional expertise, a well-functioning network of facilities and an experienced management team that has demonstrated its ability to successfully combine organic growth with targeted acquisitions. We particularly appreciate that, even during rapid expansion, the company maintains a strong focus on an individual approach to both patients and employees, while combining top-level expertise with genuine human care. We believe that together we can further develop a group of modern rehabilitation facilities and strengthen the company’s leading position on the Czech market,” said Tatiana Balkovicová, Senior Investment Director at Genesis Capital Equity.
Adam Ruta, Senior Investment Manager of the fund, added: “Fyzioterapie s úsměvem is an example of a company with a strong focus on the quality of care provided, professional excellence and service accessibility. Our aim is to be an active partner to the management team in supporting further growth, development of clinical expertise and best practices and expanding the scope of services offered to clients. This transaction aligns well with our strategy of partnering with management teams that are committed to building strong, sustainable professional platforms over the long term.”
“Rehabilitation represents a vital component of healthcare, and its importance will increase further in the future. The philosophy of rehabilitation is based on close multidisciplinary cooperation – although physiotherapists and rehabilitation physicians play a dominant role in clinical practice, in many cases – such as patients after stroke or brain injury, or children with cerebral palsy – the involvement of other specialists is required, including neurologists, orthopaedists, occupational therapists, clinical speech therapists, psychologists and others. In the outpatient setting, this integrated approach remains relatively unique in the Czech Republic, and its implementation will require strong support for continued development and growth. We are pleased that we share a strong alignment of views on these key principles and welcome the opportunity to partner with Genesis Capital,” commented MUDr. Michal Bednář, Medical Director of the company.
Pavel Pilárik, Chief Operating Officer, added: “The greatest asset of any organisation, including ours, is its people. In addition to the care, we provide to our patients, the attention and care we devote to our employees are equally important. One of the many ways in which we fulfil this commitment is by actively supporting the continuous education and professional development of all our staff. In partnership with Genesis Capital, we see a great opportunity to further enhance this support for education as well as our overall approach to employees.”
About Genesis Capital
Genesis Capital is a private equity group that offers growth and development financing to small and medium-sized companies in Central Europe. Since its foundation in 1999, Genesis Capital has advised seven private equity funds with a total volume of EUR 650 million, which have invested in more than 90 companies to date.
The investors into Genesis Capital funds include renowned institutions such as the European Investment Fund (EIF), European Bank for Reconstruction and Development (EBRD), Česká spořitelna, Erste Asset Management (both members of the Erste group), Tatra banka (member of Raiffeisen group), Amundi Czech Republic (member of the international group Amundi), KBC Asset Management (member of KBC group), Kooperativa pojišťovna and Česká podnikatelská pojišťovna (both from the Vienna Insurance Group), Finnish fund-of-funds eQ Private Equity, Raiffeisen Investment Company, Sirius Investment Company, RSJ Investments, Naše Česko (fund of J&T Finance Group), Pragorent Investment Fund, Vegerson Investment Company, family offices SPM Capital, JCK Group and One Family Office, Rentea Pension Company, or a pension fund of a renowned global company.
At present, Genesis funds hold investments in the following companies: GTH catering, Summa Linguae Technologies, 11 Entertainment Group, Hecht Motors, Borcad, TES Vsetín, XBS Group, PFX, AV Media, STT Servis, Kasper Group, Schulte Group, GAF, Horecup, NAY-DATART, Slevomat Group, R2B2, HC Electronics, JP-Prolak, SEA Enterprises, UPS Technology, Carussel, Předvýběr.cz, Knihobot/Bookbot, TechPlasty, LLP Group, Cross Masters and iFORO Group/Poptavej.cz.
For more information, please visit: www.genesis.cz/en
About Fyzioterapie s úsměvem
Fyzioterapie s úsměvem is one of the leading private providers of outpatient rehabilitation and physiotherapy services in the Czech Republic, offering individualized treatment based on the integration of initial diagnostics with modern therapeutic methods tailored to the specific needs of each patient. The company operates a group of 10 modern rehabilitation clinics and 13 local facilities across four key regions – Prague, the Hradec Králové, Pardubice and South Bohemian regions – with particularly strong regional hubs in Prague, Hradec Králové, Pardubice and České Budějovice. Over the long term, the company focuses on a high level of professional expertise in the care it provides, modern technical equipment at its facilities and a pleasant environment for patients.
For more information, please visit: www.fyziocentrum.cz
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PR representation of Genesis Capital:
Martin Plesný, Insighters
E-mail: martin.plesny@insighters.cz, phone +420 724 292 057