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

Rhea-AI Summary

U.S. Physical Therapy, Inc. (USPH) has announced the acquisition of a physical therapy practice with four clinics. USPH and its partners acquired a 75% equity interest in the practice for $3.1 million, while the current owners retain a 25% equity interest. The practice generates around $2.6 million in annual revenues and has approximately 27,000 annual visits.

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 four clinics.

USPH and its local partners together acquired a 75% equity interest in the practice for a purchase price of $3.1 million, with the current practice owners retaining a 25% equity interest. The business currently generates approximately $2.6 million in annual revenues and approximately 27,000 annual visits.

About U.S. Physical Therapy, Inc.

Founded in 1990, U.S. Physical Therapy, Inc. operates 655 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 34 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/20230531005978/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 is the company that made the acquisition?

The company that made the acquisition is U.S. Physical Therapy, Inc. (USPH).

How many clinics were acquired?

The acquisition includes a physical therapy practice with four clinics.

What is the equity interest acquired by USPH and its partners?

USPH and its partners acquired a 75% equity interest in the practice.

What is the purchase price of the acquisition?

The purchase price of the acquisition is $3.1 million.

Who retains the remaining equity interest?

The current owners of the practice retain a 25% equity interest.

How much annual revenue does the practice generate?

The practice generates approximately $2.6 million in annual revenues.

How many annual visits does the practice have?

The practice has approximately 27,000 annual visits.