U.S. Physical Therapy Inc reports that it has acquired a 55% interest in a company that provides industrial services and produced $15.9 million in revenue in 2016, for $6.6 million.
The company’s existing management is retaining the other 45% interest, according to a media release from U.S. Physical Therapy Inc.
Services provided by the unnamed company include onsite injury prevention and rehabilitation, performance optimization, and ergonomic assessments, many of which are paid for directly by employers.
Benefits of these services include the reduction of on-the-job injuries, reduced work-related injury claims, reduced absenteeism, reduced employee healthcare costs, lower employee turnover, and improved workforce productivity.
“This acquisition, which brings a capable and committed team, with deep roots as well, will help further broaden our industrial service offerings to include a menu of cost-saving, preventative services increasingly important to large self-insured companies,” says Chris Reading, chief executive officer of U.S. Physical Therapy Inc, in the release.
[Source(s): U.S. Physical Therapy Inc, Business Wire]