U.S. Physical Therapy Announces Acquisition of 50-Clinic Physical Therapy Management Services Organization
U.S. Physical Therapy, Inc. (USPH) has announced an agreement to acquire a 50% equity interest in a management services organization that oversees 50 physical therapy clinics. The transaction is expected to close on October 31, 2024. The company being acquired manages clinics primarily in New York, with plans for expansion in neighboring states. It generates approximately $64.0 million in annual revenue and $12.0 million in annual EBITDA.
The current owners will retain a 50% ownership stake, and the CEO will continue to lead the company. USPH's CEO, Chris Reading, expressed excitement about the partnership and praised the leadership team's growth from 5 to 50 clinics since 2016. BofA Securities, Inc. advised USPH on the transaction, while Livingstone Partners advised the acquired company.
U.S. Physical Therapy, Inc. (USPH) ha annunciato un accordo per acquisire un 50% di partecipazione azionaria in un'organizzazione di servizi di gestione che supervisiona 50 cliniche di fisioterapia. Si prevede che la transazione si chiuda il 31 ottobre 2024. L'azienda acquisita gestisce cliniche principalmente a New York, con piani di espansione negli stati limitrofi. Genera circa 64,0 milioni di dollari di ricavi annuali e 12,0 milioni di dollari di EBITDA annuale.
Gli attuali proprietari manterranno una partecipazione del 50%, e il CEO continuerà a guidare l'azienda. Il CEO di USPH, Chris Reading, ha espresso entusiasmo per la partnership e ha lodato la crescita del team di leadership, passato da 5 a 50 cliniche dal 2016. BofA Securities, Inc. ha consigliato USPH sulla transazione, mentre Livingstone Partners ha consigliato l'azienda acquisita.
U.S. Physical Therapy, Inc. (USPH) ha anunciado un acuerdo para adquirir un 50% de participación accionaria en una organización de servicios de gestión que supervisa 50 clínicas de fisioterapia. Se espera que la transacción se cierre el 31 de octubre de 2024. La empresa adquirida gestiona clínicas principalmente en Nueva York, con planes de expansión en estados vecinos. Genera aproximadamente 64,0 millones de dólares en ingresos anuales y 12,0 millones de dólares en EBITDA anual.
Los propietarios actuales mantendrán una participación del 50%, y el CEO continuará liderando la empresa. El CEO de USPH, Chris Reading, expresó su entusiasmo por la asociación y elogió el crecimiento del equipo directivo, que ha pasado de 5 a 50 clínicas desde 2016. BofA Securities, Inc. asesoró a USPH en la transacción, mientras que Livingstone Partners asesoró a la empresa adquirida.
U.S. Physical Therapy, Inc. (USPH)는 50% 지분을 보유한 관리 서비스 조직을 인수하기 위한 계약을 발표했습니다. 이 조직은 50개의 물리치료 클리닉을 관리합니다. 거래는 2024년 10월 31일에 마감될 것으로 예상됩니다. 인수된 회사는 주로 뉴욕에 클리닉을 운영하고 있으며, 인근 주로의 확장 계획이 있습니다. 이 회사는 약 6,400만 달러의 연간 수익과 1,200만 달러의 연간 EBITDA를 생성합니다.
현재 소유자는 50%의 소유권을 유지하며, CEO는 회사를 계속 이끌 것입니다. USPH의 CEO인 Chris Reading은 파트너십에 대한 기대감을 표명하며, 2016년 이후 5개에서 50개 클리닉으로 성장한 리더십 팀을 칭찬했습니다. BofA 증권 주식회사는 USPH의 거래를 자문하였고, Livingstone Partners는 인수된 회사를 자문하였습니다.
U.S. Physical Therapy, Inc. (USPH) a annoncé un accord pour acquérir une participation de 50% dans une organisation de services de gestion qui supervise 50 cliniques de physiothérapie. La transaction devrait se conclure le 31 octobre 2024. L'entreprise acquise gère des cliniques principalement à New York, avec des projets d'expansion dans les états voisins. Elle génère environ 64,0 millions de dollars de revenus annuels et 12,0 millions de dollars d'EBITDA annuel.
Les propriétaires actuels conserveront une participation de 50%, et le PDG continuera à diriger l'entreprise. Le PDG de USPH, Chris Reading, a exprimé son enthousiasme pour ce partenariat et a salué la croissance de l'équipe de direction, passant de 5 à 50 cliniques depuis 2016. BofA Securities, Inc. a conseillé USPH sur la transaction, tandis que Livingstone Partners a conseillé l'entreprise acquise.
U.S. Physical Therapy, Inc. (USPH) hat eine Vereinbarung zur Übernahme einer 50%igen Beteiligung an einer Verwaltungsdienstleistungsorganisation bekanntgegeben, die 50 Physiotherapiepraxen betreut. Die Transaktion wird voraussichtlich am 31. Oktober 2024 abgeschlossen. Das übernommene Unternehmen betreibt Praxen hauptsächlich in New York und plant eine Expansion in benachbarte Bundesstaaten. Es erwirtschaftet jährliche Einnahmen von etwa 64,0 Millionen Dollar und 12,0 Millionen Dollar EBITDA pro Jahr.
Die aktuellen Eigentümer behalten einen 50%igen Anteil, und der CEO wird das Unternehmen weiterhin leiten. Der CEO von USPH, Chris Reading, äußerte seine Begeisterung über die Partnerschaft und lobte das Wachstum des Führungsteams von 5 auf 50 Praxen seit 2016. BofA Securities, Inc. beriet USPH in der Transaktion, während Livingstone Partners das übernommene Unternehmen beriet.
- Acquisition of 50% equity in a company managing 50 physical therapy clinics
- Target company generates $64.0 million in annual revenue
- Target company produces $12.0 million in annual EBITDA
- Expansion plans for New York and adjacent states
- Retention of experienced management team with proven growth track record
- None.
Insights
This acquisition is a significant strategic move for USPH, expanding its market presence substantially. The deal involves purchasing a
- The acquired company generates approximately
$64 million in annual revenue - Annual EBITDA of about
$12 million on a consolidated basis - Potential for further expansion in New York and adjacent states
This acquisition aligns with USPH's growth strategy, potentially boosting its revenue and EBITDA significantly. The partnership structure allows USPH to benefit from the company's established operations while sharing the risk. The target company's impressive growth from 5 to 50 clinics since 2016 suggests strong management and market potential. For investors, this move could lead to enhanced earnings and market share, though integration risks and capital allocation should be monitored closely.
This acquisition marks a strategic expansion in the competitive physical therapy sector. The deal's structure is noteworthy:
- USPH gains access to a new geographic market, primarily New York
- The
50% ownership structure maintains continuity in management - Diversification into home-based services alongside traditional outpatient care
The target company's rapid growth from 5 to 50 clinics in about 8 years demonstrates effective scaling in a challenging healthcare landscape. This expansion could provide USPH with valuable insights into successful growth strategies. The inclusion of occupational and speech therapy services alongside physical therapy offers a more comprehensive care model, potentially attracting more referrals and improving patient outcomes. For the industry, this move may signal increased consolidation and the importance of diversified service offerings in the evolving healthcare market.
The Company manages 50 outpatient clinics, the majority of which are in
Chris Reading, Chief Executive Officer of USPH, stated, “We are extremely excited about this partnership. We have been working on this for some time and look forward to completing this transaction by month's end. I am especially impressed by the leadership of what will soon be our newest and largest PT partnership. The CEO has assembled a dedicated and capable executive team who have demonstrated their collective ability to oversee and deliver exceptional care to their patients while growing their company at an extraordinary rate. Our entire team looks forward to completing this opportunity while assisting our newest partners on their outsized growth vision for the region.”
BofA Securities, Inc. acted as financial advisor to USPH on this transaction. Livingstone Partners LLC acted as advisor to the Company.
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates approximately 687 outpatient physical therapy clinics in 42 states. USPH’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, USPH manages 40 physical therapy facilities for unaffiliated third parties, including hospitals and physician groups. USPH 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/20241007361665/en/
U.S. Physical Therapy, Inc.
Carey Hendrickson, Chief Financial Officer
email: chendrickson@usph.com
Chris Reading, Chief Executive Officer
(713) 297-7000
Source: U.S. Physical Therapy, Inc.
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