U.S. Physical Therapy Announces Acquisition

Rhea-AI Summary

U.S. Physical Therapy, Inc. (NYSE: USPH) has acquired 75% of a three-clinic physical therapy practice in South Carolina for approximately $3.7 million. This practice generates over $2.7 million in annual revenue and facilitates around 31,000 patient visits each year. CEO Chris Reading expressed satisfaction with the acquisition, highlighting potential revenue growth opportunities. Founded in 1990, USPH operates 591 outpatient clinics nationwide, providing a range of rehabilitation services and injury prevention programs.

Positive

• Acquisition of a practice generating over $2.7 million in annual revenue.
• Partnership expected to enhance revenue growth opportunities.

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 three-clinic physical therapy practice in South Carolina.

USPH acquired 75% of the equity interests of the physical therapy practice with the practice’s founder and owner retaining 25%. The purchase price for the 75% equity interest was approximately $3.7 million. The business generates more than $2.7 million in annual revenue and has approximately 31,000 patient visits per year.

Chris Reading, Chief Executive Officer, stated, “We’re very pleased to add this partnership to our physical therapy operations. Our talented new partner has done an excellent job growing his practice, and we believe there are continued revenue growth opportunities going forward."

About U.S. Physical Therapy, Inc.

Founded in 1990, U.S. Physical Therapy, Inc. operates 591 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 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/20220103005059/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 recent acquisition did U.S. Physical Therapy (USPH) announce?

U.S. Physical Therapy announced the acquisition of 75% of a three-clinic physical therapy practice in South Carolina for $3.7 million.

How much revenue does the acquired practice generate?

The acquired practice generates over $2.7 million in annual revenue.

What is the expected impact of the acquisition on USPH?

The acquisition is expected to enhance revenue growth opportunities for U.S. Physical Therapy.

How many patient visits does the acquired practice have annually?

The practice facilitates approximately 31,000 patient visits per year.