U.S. Physical Therapy Announces Acquisition
01 April 2021 - 11:50PM
Business Wire
U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE:
USPH), a national operator of outpatient physical therapy clinics,
today announced its first acquisition of 2021 and the second in the
past four months.
The Company completed the acquisition of a five clinic physical
therapy practice. USPH acquired 70% of the equity interests with
the practice’s founder and associates retaining 30%. The purchase
price was $11.9 million. The business generates approximately $7.0
million in annual revenue and has approximately 46,000 patient
visits per year.
Chris Reading, Chief Executive Officer, stated “Our new partner
has done a tremendous job in growing this practice, achieving
record-high volume and revenue in 2020 despite the pandemic, and we
believe there is still significant growth to come. The founders are
delightful people and our entire team is very excited to work with
them to further grow and scale our new partnership.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 561
outpatient physical therapy clinics in 39 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 40 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/20210401005498/en/
U.S. Physical Therapy, Inc. Carey Hendrickson, Chief Financial
Officer Chris Reading, Chief Executive Officer (713) 297-7000
Three Part Advisors Joe Noyons (817) 778-8424
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