U.S. Physical Therapy Announces Acquisition
October 01 2020 - 7:00AM
Business Wire
U.S. Physical Therapy, Inc. ("USPH" or the “Company”) (NYSE:
USPH), a national operator of outpatient physical therapy clinics,
today announced its second acquisition of 2020.
The Company has acquired a 70% interest in a business that
manages six hospital-owned outpatient clinics. The management and
services contracts have been in place for a number of years with
the new contracts, which just commenced, for an additional five
years. The purchase price for USPH’s interest is approximately $4
million.
Chris Reading, Chief Executive Officer, stated “Our Company has
quickly rebounded from the Covid-19 pandemic and this acquisition
is just one more step directionally toward returning to normal. We
are extremely excited about this partnership which we believe we
can grow with our very talented and capable new partner leading the
charge.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 550
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 38 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201001005147/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
US Physical Therapy (NYSE:USPH)
Historical Stock Chart
From Jun 2024 to Jul 2024
US Physical Therapy (NYSE:USPH)
Historical Stock Chart
From Jul 2023 to Jul 2024