U.S. Physical Therapy, Inc. acquired 50% stake in Nine-Clinic Physical Therapy And Hand Therapy Practice for $16.9 million.
April 31, 2024
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U.S. Physical Therapy, Inc. (NYSE:USPH) acquired 50% stake in Nine-Clinic Physical Therapy And Hand Therapy Practice for $16.9 million on March 29, 2024. The business currently generates approximately $11.4 million in annual revenues and approximately 65,000 annual visits.
U.S. Physical Therapy, Inc. (NYSE:USPH) completed the acquisition of 50% stake in Nine-Clinic Physical Therapy And Hand Therapy Practice on March 29, 2024. The purchase price for the 50 % equity interest was approximately $16.4 million, of which $0.5 million was in the form of a note payable. The note accrues interest at 4.5% per annum and the principal and the interest are payable on March 29, 2026. As part of the transaction, the Company agreed to additional contingent consideration if future operational objectives are met. There is no maximum payout. The contingent consideration is valued at $0.5 million as of March 31, 2024.
U.S. Physical Therapy, Inc. is engaged in physical therapy operations and provides industrial injury prevention services. The Company is engaged in physical therapy operations primarily through its subsidiary, clinic partnerships. The Company's clinics provide preventative and post-operative care for a variety of orthopedic-related disorders and sports-related injuries, treatment for neurologically related injuries and rehabilitation of injured workers. It operates approximately 683 outpatient physical therapy clinics in 42 states. In addition to owning and operating clinics, the Company manages about 41 physical therapy facilities for unaffiliated third parties, including hospitals and physician groups. The Company also has an industrial injury prevention business which provides onsite services for clientsâ employees, including injury prevention and rehabilitation, performance optimization, post-offer employment testing, functional capacity evaluations, and ergonomic assessments.
U.S. PHYSICAL THERAPY, INC. 
