U.S. Physical Therapy Announces Acquisition Of A Fourteen-Clinic Physical Therapy Practice
November 01 2022 - 7:30AM
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, today
announced the acquisition of a fourteen-clinic physical therapy
practice.
USPH acquired 60% of the equity interests of the physical
therapy practice with the practice’s owners retaining 40%. The
purchase price for the 60% equity interest was approximately $19.3
million, with a potential additional amount to be paid at a later
date based on the performance of the business. The business
currently generates more than $9 million in annualized revenue and
approximately 84,000 annualized patient visits.
Chris Reading, Chief Executive Officer, stated, “I am extremely
pleased to partner with this fantastic team who has created a
network of growing and very busy clinics in record time. I fully
expect this to be a lot of fun helping them significantly scale
this partnership into what we believe will be a multi-state region
in the coming years.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 629
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 40 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/20221101005155/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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