U.S. Physical Therapy Announces Acquisition of Two Physical Therapy Practices
02 Octobre 2023 - 2:30PM
Business Wire
Company Has Purchased 54 Clinics over the
Last Twelve Months
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 the acquisition of two physical therapy practices in
separate transactions, expanding the Company’s presence in Alaska
and adding its first clinics in the state of Colorado.
USPH acquired a 70% equity interest in both practices with the
current practice owners retaining 30% equity interests. The Company
purchased the two practices for a combined $13.9 million. The
businesses currently generate approximately $7.2 million in
combined annual revenues and approximately 48,000 visits on an
annualized basis across five total clinics.
In the last twelve months, USPH has acquired eight physical
therapy practices with 44 total clinics and more than $39 million
in revenue for a combined outlay of $72.5 million. In addition, the
Company has purchased six practices with a total of 8 clinics that
have been “tucked into” larger partnerships during this time
period.
Chris Reading, Chief Executive Officer, said, “We are pleased to
add these two practices to our Company and look forward to working
with our new partners to further grow and scale their businesses.
We’re particularly pleased to add Colorado as our 42nd state with
physical therapy operations. We have been very active in expanding
our business through acquisitions over the last twelve months and
the pipeline for potential acquisitions remains strong.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 672
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 43 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231002822364/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
US Physical Therapy (NYSE:USPH)
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