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), a national operator of
outpatient physical therapy clinics, announced that the Company
has just completed the acquisition of a physical therapy practice
that owns and operates 17 clinics and manages an additional 8
clinics. USPH acquired a 70% interest with the practices clinical
owners retaining 30%. The purchase price was $11.4 million.
The business generates approximately $11 million in total annual
revenue. There are approximately 101,000 annual patient visits at
owned clinics with revenue of $7.2 million. Revenue from
management contracts and other sources is approximately $3.8
million.
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Item 9.01 |
FINANCIAL STATEMENTS AND EXHIBITS |
Exhibits
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Description of Exhibits
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99.1
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Registrant’s press release dated January 3, 2017 U.S.
Physical Therapy Completes First Acquisition of 2017. ** |
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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. U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Recent Trading Information
U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) closed its last trading session up +0.80 at 71.65 with 65,581 shares trading hands.
