U.S. Physical Therapy Announces CFO Transition
September 22 2020 - 7:00AM
Business Wire
Larry McAfee to Retire; Carey Hendrickson
named CFO
U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE:
USPH), a national operator of outpatient physical therapy clinics,
today announced that Larry McAfee will retire as Executive Vice
President and Chief Financial officer, effective November 9, 2020.
Carey Hendrickson, currently Chief Financial Officer at Capital
Senior Living Corporation (NYSE:CSU), will succeed Larry McAfee as
the Company’s Chief Financial Officer, effective as of November 9,
2020. Mr. McAfee will remain employed through December 9, 2020 to
support the transition, at which time Mr. McAfee also will retire
from the Company’s Board of Directors.
Mr. Hendrickson brings significant experience, most recently
serving as Chief Financial Officer of Capital Senior Living, one of
the nation’s largest operators of independent living, assisted
living and memory care communities for senior adults, since May
2014, and as Chief Financial Officer of Belo Corp., a television
company that owned and operated network-affiliated television
stations and their associated websites, from 2010 through 2014.
“We are supremely grateful for Larry’s contribution and efforts
as well as his leadership over these past 17 years; the
transformation of our Company in that timeframe has been
significant,” said Chris Reading, the Company’s Chief Executive
Officer. “Earlier this year after announcing his retirement Larry
let us know that he would defer that date until we were on secure
footing with respect to our COVID-19 response. Our entire team has
worked very hard to get us to the point where we have high
confidence in our continued path forward. Larry has helped
tremendously with those efforts and has more than earned his
well-deserved retirement after more than 17 years with our Company.
I know all of our employees and partners join me in thanking Larry
for his tremendous contributions as well as wishing him much
continued health and happiness in his well-earned retirement.”
Mr. Reading continued, “We are also excited to welcome Carey to
our USPH family as our Chief Financial Officer following a very
comprehensive search beginning in January of this year. Carey has a
long and proven track record as a public company CFO with Capital
Senior Living and prior to that with BELO. In addition to his
experience, which is significant, he will be a great cultural fit
for us and embodies the servant leadership that we look for in our
senior executives. Carey has established himself as a person of
great character and integrity and our team is looking forward to
helping him to settle in to his new role with us beginning in
November.”
About Carey Hendrickson
Carey P. Hendrickson, age 58, has served as the Chief Financial
Officer of Capital Senior Living Corporation (NYSE:CSU), one of the
nation’s largest operators of independent living, assisted living
and memory care communities for senior adults, since May 2014. From
2010 through 2014, he served as the Senior Vice President/Chief
Financial Officer and Treasurer of Belo Corp. (NYSE:AHC), a
television company that owned and operated network-affiliated
television stations and their associated websites (“Belo”). Prior
to serving in such capacity, Mr. Hendrickson served Belo in various
roles including Senior Vice President/Chief Accounting Officer,
Vice President/Human Resources, Vice President/Investor Relations
and Corporate Communications, and Vice President/Strategic &
Financial Planning. He began his career with KPMG LLP and was the
director of financial planning for Republic Financial Services
before joining Belo in 1992. Mr. Hendrickson received a BBA in
Accounting from Baylor University and a Master of Business
Administration in Finance from the University of Texas in
Arlington.
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 551
outpatient physical therapy clinics (of which 8 are not currently
seeing patients) 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 32 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/20200922005226/en/
U.S. Physical Therapy, Inc. Larry McAfee, Chief Financial
Officer Chris Reading, Chief Executive Officer (713) 297-7000 Three
Part Advisors Joe Noyons (817) 778-8424
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