U.S. Physical Therapy Announces Acquisition Of Physical Therapy Practice

Rhea-AI Summary

U.S. Physical Therapy, Inc. (USPH) has acquired 80% of a physical therapy practice for approximately $6.2 million. The acquired practice generates around $3.2 million in annual revenue and handles about 27,000 patient visits annually. The founders will retain a 20% stake, ensuring a collaborative approach to growth. CEO Chris Reading emphasized their plans to expand the clinic's services to new locations, leveraging the existing strong community presence.

This acquisition aligns with USPH's strategic expansion goals in the outpatient physical therapy sector.

Positive

• Acquisition of 80% equity interest in a practice for $6.2 million.
• The acquired practice generates $3.2 million in annual revenue.
• Plans for expansion into surrounding areas leveraging strong community reputation.

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 one large clinic.

USPH acquired 80% of the equity interests of the physical therapy practice with the practice’s founder and owners retaining 20%. The purchase price for the 80% equity interest was approximately $6.2 million. The business generates approximately $3.2 million in annual revenue and has approximately 27,000 patient visits per year.

Chris Reading, Chief Executive Officer, stated, “This young and very capable husband and wife team has built an amazingly successful single-site facility that has a very strong presence in their community. We look forward to assisting them in expanding their well-regarded services to additional locations in the surrounding areas.”

About U.S. Physical Therapy, Inc.

Founded in 1990, U.S. Physical Therapy, Inc. operates 644 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 36 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/20230301005229/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 purpose of U.S. Physical Therapy's acquisition of the clinic?

The acquisition aims to expand U.S. Physical Therapy's footprint and enhance service offerings in the outpatient sector.

How much did U.S. Physical Therapy pay for the acquisition?

U.S. Physical Therapy paid approximately $6.2 million for the 80% equity interest.

What are the annual revenues of the acquired practice?

The acquired practice generates around $3.2 million in annual revenue.

What is the expected impact of the acquisition on U.S. Physical Therapy?

The acquisition is expected to provide growth opportunities and enhance service delivery in the community.

How many patient visits does the acquired practice manage annually?

The practice manages approximately 27,000 patient visits per year.