U.S. Physical Therapy, Inc. completed the acquisition of a 70% stake in Physical Therapy Practice in Alaska for approximately $7.8 million.
October 02, 2023
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U.S. Physical Therapy, Inc. (NYSE:USPH) acquired a 70% stake in Physical Therapy Practice in Alaska on September 29, 2023. In a separate transaction U.S. Physical Therapy also acquired Physical Therapy Practice in Colorado. 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 Alaska for approximately $7.8 million on September 29, 2023. The owner of the practice retained 30 % of the equity interests. The purchase price for the 70% equity interest was approximately $7.8 million, of which $7.4 million was paid in cash and $0.4 million is a deferred payment due on June 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 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. It operates approximately 683 outpatient physical therapy clinics in 42 states. In addition to owning and operating clinics, the Company manages about 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 clientsâ employees, including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments.