U.S. Physical Therapy Announces Acquisition

Rhea-AI Summary

U.S. Physical Therapy, Inc. (USPH) has announced the acquisition of a company enhancing its industrial injury prevention services. The acquired firm specializes in return-to-work and ergonomic services, generating over $2.0 million annually. USPH acquired the company’s assets for approximately $3.3 million. CEO Chris Reading expressed optimism about growth and cross-selling opportunities with the Briotix subsidiary. Founded in 1990, USPH operates 579 outpatient clinics and manages 38 facilities for third parties, focusing on injury prevention and rehabilitation services.

Positive

• Acquisition adds competency in return-to-work and ergonomic services.
• Expected revenue boost with over $2.0 million annual revenue from the acquired company.
• Synergies identified with existing Briotix subsidiary.

Negative

• Acquisition cost of approximately $3.3 million may impact short-term financials.

HOUSTON--(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 company that will add to its industrial injury prevention services business.

The acquired company specializes in return-to-work and ergonomic services, among other offerings. The business generates more than $2.0 million in annual revenue. Through its Briotix subsidiary, USPH acquired the company’s assets at a purchase price of approximately $3.3 million.

Chris Reading, Chief Executive Officer, stated “We are pleased to be able to continue to grow our industrial injury prevention services business. We believe there are good cross-selling opportunities that will come from this acquisition with Briotix’s support.”

About U.S. Physical Therapy, Inc.

Founded in 1990, U.S. Physical Therapy, Inc. operates 579 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/20211001005069/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

Source: U.S. Physical Therapy, Inc.

FAQ

What company did U.S. Physical Therapy acquire?

U.S. Physical Therapy acquired a company that specializes in return-to-work and ergonomic services.

What is the value of the acquisition by USPH?

The acquisition was completed for approximately $3.3 million.

How much revenue does the acquired company generate?

The acquired company generates over $2.0 million in annual revenue.

What services will the acquisition enhance for USPH?

The acquisition will enhance USPH's industrial injury prevention services.

What is the strategic importance of the acquisition for USPH?

The acquisition is expected to create cross-selling opportunities through USPH's Briotix subsidiary.