US Physical Therapy announces it has acquired a majority interest in a company that is a leading provider of industrial injury prevention services.
The company specializes in delivering injury prevention and care, ergonomics, education and coaching in an industrial setting. The Company performs these services through Industrial Sports Medicine Professionals, consisting primarily of highly specialized Certified Athletic Trainers (ATCs). This relationship-based health delivery system is paid for directly by corporate clients. Existing clients are mostly Fortune 500 companies, across a variety of industries. The company operates in over 450 client facilities across 26 states.
The business produced $5.7 million in revenue in 2017 and is growing. U.S. Physical Therapy acquired a 65% interest for $9 million. The remaining 35% stake is being retained by existing management, explains a media release from US Physical Therapy.
“We are very excited to be able to add this talented and passionate team to our existing injury prevention partnership,” says Chris Reading, US Physical Therapy Chief Executive Officer, in the release.
“The work that they perform every day prevents injuries, improves countless lives of the workers they serve, and saves significant direct and indirect expense for our client-companies. This acquisition and combination will result in an even stronger platform around which we will continue to build in order to better serve our industrial clients and their working athletes.”
[Source(s): US Physical Therapy, Business Wire]