USPh Announces Acquisition of a Nine-Clinic Physical Therapy And Hand Therapy Practice
Monday, April 01, 2023 7:30 AM, EST
Houston, TX, April 1, 2024 – 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, announced the
acquisition of a physical therapy and hand therapy practice with nine clinic locations.
USPH acquired a 50% equity interest in the practice for a purchase price of $16.4 million, with the current practice owners
retaining a 50% interest. The business currently generates approximately $11.4 million in annual revenues and
approximately 65,000 annual visits.
Chris Reading, Chief Executive Officer, said, “This will be a great partnership addition to an already strong market for
us. Our newest partners have done an exceptional job with a nicely developed workers comp centric mix of business and
an appetite to grow in this and surrounding markets.”
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 678 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 41 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.