U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Other Events
ITEM 8.01 OTHER EVENTS
U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Other Events
Sale of Certain Assets of 6 Clinics
On June 16, 2020, U.S. Physical Therapy, Inc. sold six closed clinics for an aggregate sale price of $810,000. The Company will retain the sold clinics’ accounts receivable.
The Company will record a pre-tax gain of approximately $0.5 million, net of the allocation to the non-controlling interest partners, on the sale of the 6 clinics.
Summary of Risk Factors
Our business can be affected by certain risks, uncertainties and factors which include, but are not limited to:
Refer to Item 1A. Risk Factors in the Company’s Quarterly Report on Form 10-Q filed on May 21, 2020 and the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed on February 28, 2020 for a listing and explanation of risk factors.
* Filed herewith.
About U.S. PHYSICAL THERAPY, INC. (NYSE:USPH)
U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care, and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers and neurological-related injuries. The Company’s segment is made up of various clinics within partnerships. The Company primarily operates through subsidiary clinic partnerships, in which it owns a general partnership interest and a limited partnership interest, and the managing therapists of the clinics owns the remaining limited partnership interest in the clinics. The Company operates approximately 510 clinics in over 40 states. There are approximately 380 clinics operated under Clinic Partnerships and over 100 operated as Company-owned Facilities. In addition to its owned clinics, it also manages physical therapy facilities for third parties, primarily physicians, with over 20 third-party facilities under management.