U.S. Physical Therapy, Inc. acquired a 70% stake in Physical Therapy Practice in Colorado for approximately $6 million.
October 02, 2023
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U.S. Physical Therapy, Inc. (NYSE:USPH) acquired a 70% stake in Physical Therapy Practice in Colorado on September 29, 2023. In a separate transaction U.S. Physical Therapy also acquired Physical Therapy Practice in Alaska. 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.
U.S. Physical Therapy, Inc. (NYSE:USPH) completed the acquisition of a 70% stake in Physical Therapy Practice in Colorado for approximately $6 million on September 29, 2023. The original owner of the practice retained 30 % of the equity interests. The purchase price for the 70% equity interest was approximately $6.0 million, of which $5.4 million was paid in cash, and $0.6 million was in the form of a note payable. The note accrues interest at 5% per annum and the principal and interest are payable in two installments. The first payment of principal and interest of $0.3 million was paid in January 2024 and the second installment of $0.3 million is due on September 30, 2025.
U.S. Physical Therapy, Inc. is engaged in physical therapy operations and provides industrial injury prevention services. The Company is engaged in physical therapy operations primarily through its subsidiary, clinic partnerships. The Company's physical therapy operations consist of physical therapy and occupational therapy clinics that provide pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventive care, rehabilitation of injured workers and neurological injuries. It operates approximately 678 outpatient physical therapy clinics in 42 states. The Company's industrial injury prevention services include onsite injury prevention and rehabilitation, performance optimization, post offer employment testing, functional capacity evaluations, and ergonomic assessments. It performs these services through Industrial Sports Medicine Professionals, consisting primarily of specialized certified athletic trainers (ATCs).
U.S. PHYSICAL THERAPY, INC. 
