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 a thirteen-clinic physical therapy practice.
USPH acquired 80% of the equity interests of the physical therapy practice with the practice’s owners retaining 20%. The purchase price for the 80% equity interest was approximately $25 million. The business currently generates more than $12 million in annualized revenue and approximately 120,000 annualized patient visits.
Chris Reading, Chief Executive Officer, stated, “This is a very capable, smart, dedicated and compassionate group of physical therapy leaders, and we are excited to welcome them into our USPH family. We like this opportunity due to the character and capabilities of the individuals involved combined with what we believe we can build together in the future. This is another strong partner-centric acquisition for us in what has been a great development year for our company.”
