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headshot of Adam Elberg

Adam Elberg, MS, PT, ATC, CSCS

Co-Founder & Managing Director

The road that led me to found 3 Boomerang Capital alongside Adam Dolder began with my training and career in physical therapy. I received an M.S. in Physical Therapy from Washington University in St. Louis, after earning a B.A in Athletic Training from Whittier College. Today I remain a licensed Physical Therapist, NATA Certified Athletic Trainer and NSCA Certified Strength and Conditioning Specialist.

But it was in 1999 that the entrepreneur in me took control of my career and I founded Professional Physical Therapy, a single physical therapy location, in New York. Fueled by its success and my own passion for how physical therapy could make a difference in people’s live, my team and I grew ProPT to ten centers across New York over the next ten years.

In 2010, I met Adam Dolder when he was at Great Point Partners, which made an initial private equity investment in ProPT. At that time, the company had ~$30mm of revenues and ~$10mm of EBITDA. Over the next five years, we executed an aggressive growth strategy that involved 21 tuck-in acquisitions and the opening of 16 de novo centers.

When Great Point exited in December 2016, ProPT was the largest outpatient physical therapy provider in the Northeast, serving patients in 107 locations across three states and employing over 1,200 people. ProPT had grown its revenue to ~$150mm, with EBITDA reaching ~$40mm.

Once I left ProPT, I knew I wanted to help continue building successful companies, so I founded Sancufides Consulting, which advised and invested in multi-site healthcare service, healthcare IT and healthcare device businesses. Sancufides is a name I created from Sancus, the Roman god of loyalty, trust, honesty and oaths, plus Fides the Greek goddess of trust, good faith and honesty. My experiences at Sancufides, as well as my partnership with Adam Dolder since 2011, have culminated in the creation of 3 Boomerang Capital.

I remain active in the healthcare industry, having served on the board of four healthcare companies over the past several years. I truly enjoy helping entrepreneurs and founders experience the same successes that I have enjoyed throughout my career. I am also passionate about helping my community more broadly. To that end, I was humbled to receive the 2015 Gary M. Sherman Humanitarian Award by Cohen’s Children’s Medical Center (Northwell Health) for my volunteerism and philanthropy. Additionally, I proudly serve on the board of New Leadership Division for Northwell Health’s Pediatric Foundation and have done so since 2002.