U.S. Physical Therapy Inc announces it has just completed the acquisition of an 11-clinic physical therapy practice for aproximately $12.3 million.
USPH acquired a 67% interest with the practice’s clinical owners retaining 33%. The practice has approximately 59,000 annual patient visits and generates $6.6 million in annual revenue.
“We are extremely excited to partner with this very talented and capable team,” Chris Reading, its chief executive officer, says in a media release.
“Our partnership, which has been a while in the making, will provide the necessary resources for further significant expansion allowing us to positively impact many more patients’ lives as well as communities in the region.”
Founded in 1990, U.S. Physical Therapy Inc operates 573 outpatient physical therapy clinics in 41 states. It also manages 26 physical therapy facilities for unaffiliated third parties, including hospitals and physician groups.
For more information, visit U.S. Physical Therapy Inc.
[Source(s): U.S. Physical Therapy Inc, Business Wire]