US Physical Therapy (USPH) Announces Acquisitions

U.S. Physical Therapy, Inc. (“USPH” or the “Company”) (NYSE: USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services (“IIP”), announced the acquisition of an IIP services business by one of its primary IIP companies, Briotix Health Limited Partnership (“Briotix”). Briotix purchased 100% of the IIP services business for a total purchase price of approximately $24.0 million. The business currently generates approximately $11.0 million in annual revenues. In a separate transaction, USPH also acquired a two-clinic physical therapy practice with approximately $1.0 million in annual revenue, which is being tucked into a larger recently acquired practice.

Chris Reading, Chief Executive Officer, said, “We are extremely pleased to announce our industrial injury prevention acquisition today. The relationships with this team extend for many years and there is a great respect for what they have built over a long period of time. This opportunity will fit well within our Briotix partnership from an operational and cultural perspective and will open us up to several new industry verticals in transportation, construction and manufacturing. Additionally, we look forward to cross-selling opportunities for the more than 20 Briotix program offerings now available.”

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