US Physical Therapy Inc, a national operator of outpatient physical therapy clinics, has announced that it has acquired a 70% interest in a 13-clinic physical therapy practice. The purchase price was $11,025,000. The business sees more than 125,000 patient visits per year and generates approximately $12.4 million in annual revenue, as indicated on a Business Wire news release.
Chris Reading, CEO of US Physical Therapy, states, “We are very excited about the caliber and capability of our partners in this relationship. With their strong network of facilities, established clinical mentorship programs, and long-standing commitment to outstanding patient care, we expect them to be a great addition to our company.”
Reading adds, “Although the healthcare operating environment continues to be challenging, we remain well-positioned to help our partners thrive by adding resources and taking away some of the work and uncertainty of doing it alone.”
According to a Business Wire news release, US Physical Therapy operates 487 outpatient physical and occupational therapy clinics in 43 states. The clinics provide preventative and postoperative care for a variety of orthopedic- and sports-related disorders as well as treatment for neurologic-related injuries and injured worker rehabilitation.
[Source: Business Wire]