HOUSTON – (COMMERCIAL THREAD) – US Physical Therapy, Inc. (“USPH” or the “Company”) (NYSE: USPH), a national operator of outpatient physiotherapy clinics and provider of occupational injury prevention services, announced today acquiring a physiotherapy practice in South Carolina.
USPH acquired 75% of the stakes in the physiotherapy practice, the founder and owner of the practice retaining 25%. The purchase price for the 75% interest was approximately $ 3.7 million. The company generates more than $ 2.7 million in annual revenue and has approximately 31,000 patient visits per year.
Chris Reading, CEO, said: “We are very excited to add this partnership to our physiotherapy operations. Our talented new partner has done a great job growing their practice, and we believe there are opportunities for continued revenue growth in the future. ”
About US Physical Therapy, Inc.
Founded in 1990, US Physical Therapy, Inc. operates 591 ambulatory physiotherapy clinics in 39 states. The Company’s clinics provide preventive and postoperative care for a variety of orthopedic disorders and sports injuries, treatment of neurological injuries and rehabilitation of injured workers. In addition to owning and operating clinics, the Company operates 36 physiotherapy facilities for unaffiliated third parties, including hospitals and physician groups. The Company also owns an industrial injury prevention business that provides on-site services to customers’ employees, including injury prevention and rehabilitation, performance optimization, post-offer job testing, job evaluations. functional abilities and ergonomic assessments.
More information about US Physical Therapy, Inc. is available at www.usph.com. The information contained on this website is not incorporated in this press release.