U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Other Events

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U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Other Events

Item 8.01 Other Events

On March 16, 2017 the Company reported that an accounting error
that involved the reporting of redeemable non-controlling
interests had caused the Company to be in technical default of
the credit agreement with its bank lender.
On March 20, 2017, the bank granted a 30 day forbearance period
during which the Company and the bank are in discussions to put
into place a permanent amendment to the agreement. The Company
may borrow up to an additional $10,000,000 under the credit
agreement during this period.
Item 9.01
FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
Description of Exhibits
None.


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 down -0.25 at 67.90 with 135,477 shares trading hands.

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