U.S. Physical Therapy Announces Nine-Clinic Group Acquisition
July 05 2017 - 7:00AM
Business Wire
U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of
outpatient physical therapy clinics, announced that the Company has
just completed the acquisition of a nine-clinic physical therapy
practice. USPH acquired a 60% interest with the practice’s clinical
owners retaining 40%. The purchase price was $16.3 million. The
business generated $8.6 million in revenue in 2016. There were
92,000 patient visits at an average net rate of approximately $94
per visit.
Chris Reading, Chief Executive Officer, said, “We are very
pleased to bring on yet another fine group into our USPH family.
Our partners in this transaction have a long-established history of
building a patient-centric and clinician-friendly company which has
grown rapidly. Together we believe that we can further their growth
and expansion for many more years to come.”
Thus far in 2017 U.S. Physical Therapy has acquired 30 physical
therapy clinics and eight physical therapy management contracts.
Additionally the Company acquired a leading provider of workforce
performance solutions whose services include onsite injury
prevention and rehabilitation, performance optimization and
ergonomic assessments.
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 567
outpatient physical therapy clinics in 41 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 31 physical therapy facilities for unaffiliated
third parties, including hospitals and physician groups. The
Company also provides onsite services for clients’ employees
including injury prevention, rehabilitation, ergonomic assessments
and performance optimization.
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: http://www.businesswire.com/news/home/20170705005100/en/
U.S. Physical Therapy, Inc.Larry McAfee, (713) 297-7000Chief
Financial OfficerorChris Reading, (713) 297-7000Chief Executive
Officer
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