U.S. Physical Therapy Inc (USPH), a national operator of outpatient physical therapy clinics, announces it has completed the acquisition of a four-clinic physical therapy practice at a cost of $12.2 million.
USPH acquired approximately 65% of the equity interests with the practice’s founders and associates retaining approximately 35%. The business generates more than $6.6 million in annual revenue and has approximately 53,000 patient visits per year, according to a news release from Houston-based U.S. Physical Therapy Inc.
“Over the past couple of years I have gotten to know these really fine people, and I am excited that we have the opportunity to grow together as partners,” says Chris Reading, Chief Executive Officer, in the release.
“They and their team have done an outstanding job building a terrific reputation and have an excellent plan for continued expansion. We look forward to helping them reach their goals.”
Founded in 1990, U.S. Physical Therapy Inc operates 587 outpatient physical therapy clinics in 40 states, according to the company.
For more information, visit U.S. Physical Therapy Inc.
[Source(s): U.S. Physical Therapy Inc, Business Wire]