U.S. Physical Therapy Completes First Acquisition of 2017
January 03 2017 - 4:15PM
Business Wire
U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of
outpatient physical therapy clinics, announced that the Company has
just completed the acquisition of a physical therapy practice that
owns and operates 17 clinics and manages an additional 8 clinics.
USPH acquired a 70% interest with the practice’s clinical owners
retaining 30%. The purchase price was $11.4 million.
The business generates approximately $11 million in total annual
revenue. There are approximately 101,000 annual patient visits at
owned clinics with revenue of $7.2 million. Revenue from management
contracts and other sources is approximately $3.8 million.
Chris Reading, U.S. Physical Therapy Chief Executive Officer,
said, “We are very pleased to complete this acquisition with
another highly capable and talented group of partners in a market
which is wide open for us. We firmly believe that with our support
and additional resources that they can continue in their legacy of
performing excellent clinical work while further growing and
scaling this partnership.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 557
outpatient physical therapy clinics in 42 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 29 physical therapy facilities for unaffiliated
third parties, including hospitals and physician groups.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170103006188/en/
U.S. Physical Therapy, Inc.Larry McAfee, (713) 297-7000Chief
Financial OfficerorChris Reading, (713) 297-7000Chief Executive
Officer
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