HOUSTON–(BUSINESS WIRE)–US Physical Therapy, Inc. (“USPH” or the “Company”) (NYSE: USPH), a nationwide operator of outpatient physical therapy clinics and provider of workers’ compensation services, today announced the acquisition of fourteen physiotherapy practice clinics.
USPH acquired a 60% stake in the physiotherapy practice, with the practice owners retaining 40%. The purchase price for the 60% stake was approximately $19.3 million, with an additional amount potentially payable at a later date depending on business performance. The company currently generates over $9 million in annualized revenue and approximately 84,000 annualized patient visits.
Chris Reading, Managing Director, said: “I am extremely pleased to be partnering with this fantastic team who have created a growing and busy clinic network in record time. I expect it will be a lot of fun helping them significantly scale this partnership in what we believe will be a multi-state region in the years to come.
About US Physical Therapy, Inc.
Founded in 1990, US Physical Therapy, Inc. operates 629 outpatient physical therapy clinics in 40 states. The Company’s clinics provide preventive and postoperative care for a variety of orthopedic disorders and sports-related injuries, treatment of neurological injuries and rehabilitation of injured workers. In addition to owning and operating clinics, the Company manages 40 physical therapy facilities for unaffiliated third parties, including hospitals and physician groups. The Company also has a workers’ compensation business that provides on-site services to customers’ employees, including injury prevention and rehabilitation, performance optimization, post-offer job testing, functional capacity and ergonomic assessments.
More information about US Physical Therapy, Inc. is available at usph.com. Information contained on this website is not incorporated into this press release.