USPh Announces Acquisition of an Industrial Injury Prevention Services and Ergonomics Software Business
Tuesday, November 01, 2023 8:30 AM, EST
Houston, TX, November 1, 2023 – 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 (“IIP”) services, today
announced the acquisition of an IIP services and ergonomics software business by one of its two primary IIP companies,
Briotix Health Limited Partnership (“Briotix”). In addition to increasing its IIP services business, the newly created
ergonomics software provides an exciting new solution to add to Briotix’s offerings to existing and potential customers.
Briotix purchased all of the IIP services business and a 55% equity interest in the ergonomics software business for a total
purchase price of approximately $4.0 million. The combined businesses currently generate approximately $2.6 million in
annual revenues.
Chris Reading, Chief Executive Officer, said, “The founders of the business, whom we have known for a good while, are
of outstanding character and ability, and will be a great addition to our very capable Briotix team. We are particularly
excited about the growth potential of the software business which will enable us to serve an even broader audience relating
to their ergonomic program needs.”
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 675 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 42 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.