U.S. Physical Therapy Announces Acquisition
01 July 2021 - 10:30PM
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 an eight-clinic physical therapy
practice.
USPH acquired 65% of the equity interests of the physical
therapy practice with the practice’s founder and owners retaining
35%. The purchase price was $10.3 million. The business generates
more than $7.3 million in annual revenue and has approximately
65,000 patient visits per year.
Chris Reading, Chief Executive Officer, stated, “We continue to
attract great partners and this current opportunity is no
different. We have a terrific group of highly motivated partners
whom we are excited to help grow and scale forward.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 575
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 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/20210701005140/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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