U.S. Physical Therapy Announces Acquisition of a Five-Clinic Physical Therapy Practice

Rhea-AI Summary

US Physical Therapy announces acquisition of physical therapy practice with five clinics.

Positive

• USPH acquires 70% equity interest in the practice for $2.1 million.
• The acquisition adds approximately $2.4 million in annual revenues to USPH.

Negative

• None.

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 an acquisition of a physical therapy practice with five clinics.

USPH acquired a 70% equity interest in the practice for a purchase price of $2.1 million, with the current practice owners retaining a 30% equity interest. The business currently generates approximately $2.4 million in annual revenues.

About U.S. Physical Therapy, Inc.

Founded in 1990, U.S. Physical Therapy, Inc. operates 661 outpatient physical therapy clinics in 41 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 43 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/20230801138557/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 did US Physical Therapy announce?

US Physical Therapy announced the acquisition of a physical therapy practice with five clinics.

How much equity interest did USPH acquire?

USPH acquired a 70% equity interest in the practice.

What was the purchase price for the acquisition?

The purchase price for the acquisition was $2.1 million.

What percentage of equity interest do the current practice owners retain?

The current practice owners retain a 30% equity interest.

How much annual revenue does the acquired practice generate?

The acquired practice currently generates approximately $2.4 million in annual revenues.