U.S. Physical Therapy Inc, a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, announces an acquisition of a six-clinic physical therapy practice in South Central Pennsylvania – Madden and Gilbert Physical Therapy LLC.
U.S. Physical Therapy Inc acquired 70% of the equity interests of the physical therapy practice with the practice’s founder and owners retaining 30%. The purchase price for the 70% equity interest was approximately $11.5 million. The business generates more than $7.5 million in annual revenue and has approximately 71,000 patient visits per year.
Chris Reading, Chief Executive Officer, states, “We are extremely pleased to announce our latest acquisition in partnership with Chad Madden and Mike Gilbert, two revered leaders in our profession who have built a great physical therapy business using the founding principles developed within Chad’s Breakthrough Marketing company. We look forward to a long and prosperous relationship building on their well-established network of facilities in South Central Pennsylvania. Chad and Mike have a multi-year expansion plan built upon their excellent reputation and terrific patient service and we are excited about helping them realize their goals in the years to come.”
[Source(s): U.S. Physical Therapy Inc, Business Wire]
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