U.S. Physical Therapy Makes Second Acquisition in Industrial Injury Prevention Sector
May 01 2018 - 8:00AM
Business Wire
U.S. Physical Therapy, Inc. (NYSE: USPH) announced today that it
has acquired a majority interest in a company which is a leading
provider of industrial injury prevention services.
The company specializes in delivering injury prevention and
care, ergonomics, education and coaching in an industrial setting.
The Company performs these services through Industrial Sports
Medicine Professionals, consisting primarily of highly specialized
Certified Athletic Trainers (ATCs). This relationship-based health
delivery system is paid for directly by corporate clients. Existing
clients are mostly Fortune 500 companies, across a variety of
industries. The company operates in over 450 client facilities
across 26 states.
The business produced $5.7 million in revenue in 2017 and is
growing. U.S. Physical Therapy acquired a 65% interest for $9
million. The remaining 35% stake is being retained by existing
management.
Chris Reading, U.S. Physical Therapy Chief Executive Officer,
said, “We are very excited to be able to add this talented and
passionate team to our existing injury prevention partnership. The
work that they perform every day prevents injuries, improves
countless lives of the workers they serve, and saves significant
direct and indirect expense for our client-companies. This
acquisition and combination will result in an even stronger
platform around which we will continue to build in order to better
serve our industrial clients and their working athletes.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 580
outpatient physical therapy clinics in 42 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 28 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, 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: https://www.businesswire.com/news/home/20180501005183/en/
U.S. Physical Therapy, Inc.Larry McAfee, (713) 297-7000Chief
Financial OfficerorChris Reading, (713) 297-7000Chief Executive
Officer
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