U.S. Physical Therapy Announces Impact to Operations from Hurricane Ian
18 October 2022 - 7:05AM
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, announced
today that the operations of 51 of the Company’s 614 clinics were
affected by Hurricane Ian. Due to the high winds, loss of
electrical power, flooding and road closures attributed to the
severe storm, U.S. Physical Therapy’s business was interrupted in
large parts of the states of Florida, Georgia, and South Carolina.
The Company estimates that approximately 3,500 patient visits,
representing approximately $300,000 in revenue and gross profit
contribution, were lost from September 26 through September 30. An
additional 1,100 patient visits, representing approximately $95,000
in revenue and gross profit contribution, were lost in the first
week of October. The Company expects continued interruption at
several clinics for the next few weeks and will provide an update
on its third quarter conference call scheduled for Thursday,
November 3, 2022, at 10:30 am Eastern/9:30 am Central.
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/20221017005822/en/
U.S. Physical Therapy, Inc. Carey Hendrickson, Chief Financial
Officer Email: Chendrickson@usph.com
Chris Reading, Chief Executive Officer (713) 297-7000
Three Part Advisors Joe Noyons (817) 778-8424
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