U.S. Physical Therapy Announces Acquisition Of A Two-Clinic Physical Therapy Practice
October 03 2022 - 7:30AM
Business Wire
U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE:
USPH), a national operator of outpatient physical therapy clinics
and provider of industrial injury prevention services, today
announced an acquisition of a two-clinic physical therapy
practice.
USPH acquired 80% of the equity interests of the physical
therapy practice with the practice’s owners retaining 20%. The
purchase price for the 80% equity interest was approximately $4.2
million inclusive of a note payable to the owners of $250,000. The
remainder was paid in cash. The business generates more than $2.5
million in annual revenue and has approximately 17,000 patient
visits per year.
Chris Reading, Chief Executive Officer, stated, “We are excited
about this team and this opportunity. We combined great care, state
of the art facilities and a high net rate market with plenty of
room to expand. Our team looks very forward to assisting our newest
partners in further growing and scaling their business in order to
positively impact more lives.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 614
outpatient physical therapy clinics in 40 states. The Company's
clinics provide preventative and post-operative care for a variety
of orthopedic-related disorders and sports-related injuries,
treatment for neurologically-related injuries and rehabilitation of
injured workers. In addition to owning and operating clinics, the
Company manages 33 physical therapy facilities for unaffiliated
third parties, including hospitals and physician groups. The
Company also has an industrial injury prevention business which
provides onsite services for clients’ employees including injury
prevention and rehabilitation, performance optimization, post-offer
employment testing, functional capacity evaluations, and ergonomic
assessments.
More information about U.S. Physical Therapy, Inc. is available
at www.usph.com. The information included on that website is not
incorporated into this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20221003005092/en/
U.S. Physical Therapy, Inc. Carey Hendrickson, Chief Financial
Officer chendrickson@usph.com Chris Reading, Chief Executive
Officer (713) 297-7000 Three Part Advisors Joe Noyons (817)
778-8424
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