U.S. Physical Therapy, Inc. (NYSE: USPH) shares sank Monday. The national operator of outpatient physical therapy clinics and provider of industrial injury prevention services announced the acquisition of a hand and physical therapy practice with eight clinic locations in Wyoming which currently generates approximately $6.5 million in annual revenues and 43,000 in annual visits. The Company acquired a 75% interest in the Company with the current owners retaining a 25% ownership interest.
CEO Chris Reading said, “We are excited to welcome our newest partners into our USPH family. The founders have forged a tremendous asset for patients in their communities. On behalf of our entire team, we all look forward to assisting and supporting them as they work to make a difference in the lives of the patients and families that they serve.”
Founded in 1990, U.S. Physical Therapy, Inc. owns and/or manages 764 outpatient physical therapy clinics in 43 states. USPH 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. USPH 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.
USPH shares doffed 80 cents to $97.96.
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