UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 9, 2015

U.S. PHYSICAL THERAPY, INC.
 (Exact name of registrant as specified in its charter)
 
Nevada 
1-11151
760364866
(State or other jurisdiction of  incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
1300 West Sam Houston Parkway South, Suite 300, Houston, Texas
77042
(Address of Principal Executive Offices)
 (Zip Code)

Registrant's telephone number, including area code: (713) 297-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Item 7.01
Regulation FD Disclosure
 
The Company's Letter to Shareholders ("Shareholder Letter"), which will be mailed to the Company's shareholders on or about April 13, 2015 with its Proxy Statement for the Annual Meeting to be held on May 19, 2015 and Annual Report on Form 10-K for the year ended December 31, 2014, is attached as Exhibit 99.1.
 
Pursuant to the rules of the Securities and Exchange Commission, the information contained in this report shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filings by the Company under such Act or the Securities Act of 1933, as amended.
 
Item 9.01 Financial Statements and Exhibits

(a)
None.

(b)
None.

(c)
Exhibits

Exhibits Description of Exhibits

99.1 2014 Letter to Shareholders
 
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
U.S. PHYSICAL THERAPY, INC.
   
Dated: April 9, 2015
By:  /s/ LAWRANCE W. MCAFEE
 
Lawrance W. McAfee
 
Chief Financial Officer
 
(duly authorized officer and principal financial
and accounting officer)


INDEX TO EXHIBITS

EXHIBIT DESCRIPTION OF EXHIBIT

99.1 2014 Letter to Shareholders
 
 


Exhibit 99.1
Dear U.S. Physical Therapy Shareholder:
 
In 2014 our team of dedicated partners and staff, along with our talented support team, worked effectively to deliver another record earnings year for our shareholders.  Our model of shared equity ownership with our partners means that we win, or lose, together and fortunately for all of us we were able to put together another winning year.  In 2014, we delivered a 20%+ shareholder return underpinned by growth of 15.5% in patient visits, an 18% improvement in operating income and a 19.2% increase in net income attributable to common shareholders from continuing operations.
 
The good news is that our race isn't over yet and there is no need for a victory lap because we have a lot of gas still left in our tank with a lot more yet we are working to accomplish.  In 2015 that work will continue to center around the following key areas:
 
Development
 
There are few things we enjoy more than making a difference in our patient's lives, but when we are doing that well, we have the added benefit of growth and further clinic and partnership development.  Our growth in more recent years has come in part through attracting strong, successful private practice clinic owners and acquiring an interest in their brand and business while helping them to accelerate their growth for years to come.  That growth often takes the form of additional sites through organic development as well as additional programs and services like the support we provide through our Fit2Wrk industry focused initiatives.  I believe that we will see acceleration in consolidation within our industry and our Company is focused on being a great home to those who are considering a strategic partner to assist them in achieving their company as well as personal financial goals.
 
Industrial Focus
 
We continue to believe that through our successful Fit2Wrk brand, along with other relationships and vehicles that we can provide superior value to industry through a full complement of care and preventative services delivered by and through our partnerships and our highly skilled and trained national support team.  We remain early in the season of our growth opportunity in this important area.
 
Service
 
Fostering an environment rooted in service, responsiveness, communication and creativity has allowed us to attract amazing talent to our Company. That's just one of the many great things about being part of an exciting and dynamic team. Care and service delivered to all of our customers will remain first and foremost in our focus as well as our actions for the coming year.
 
In closing, please know that we will continue to work very hard to deliver on our promise as a company.  On behalf of our entire team, thank you for your belief and support.
 
Sincerely,

Chris Reading, PT
President & CEO
 
1300 W. Sam Houston Pkwy S. ::  Suite 300  ::  Houston, Texas 77042
 713.297.7000  ::  713.297.7090 Fax  ::  www.usph.com
NYSE:USPH
 
 
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