U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of
outpatient physical therapy clinics, announced today that the Company
has purchased a three clinic physical therapy practice as a tuck-in
acquisition for one of the Company’s partnerships. The acquired business
sees approximately 10,500 patient visits per year with $1,225,000 in
annual revenue. The purchase price was $1,050,000.
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 491 outpatient
physical and occupational therapy clinics in 42 states. 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.
In addition to owning and operating clinics, the Company manages 17
physical therapy facilities for third parties, including hospitals and
physician groups.
More information about U.S. Physical Therapy, Inc. is available at www.usph.com.
The information included on that website is not incorporated into this
press release.
Forward-Looking Statements
This press release contains statements that are considered to be
forward-looking within the meaning under Section 21E of the Securities
Exchange Act of 1934, as amended. These statements contain
forward-looking information relating to the financial condition, results
of operations, plans, objectives, future performance and business of our
Company. These statements (often using words such as “believes”,
“expects”, “intends”, “plans”, “appear”, “should” and similar words)
involve risks and uncertainties that could cause actual results to
differ materially from those we project. Included among such statements
are those relating to new clinics, availability of personnel and the
reimbursement environment. The forward-looking statements are based on
our current views and assumptions and actual results could differ
materially from those anticipated in such forward-looking statements as
a result of certain risks, uncertainties, and factors, which include,
but are not limited to:
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changes as the result of government enacted national healthcare reform;
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changes in Medicare guidelines and reimbursement or failure of our
clinics to maintain their Medicare certification status;
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business and regulatory conditions including federal and state
regulations;
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changes in reimbursement rates or payment methods from third party
payors including government agencies and deductibles and co-pays owed
by patients;
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revenue and earnings expectations;
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general economic conditions;
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availability and cost of qualified physical and occupational
therapists;
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personnel productivity;
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competitive, economic or reimbursement conditions in our markets which
may require us to reorganize or close certain operations and thereby
incur losses and/or closure costs including the possible write-down or
write-off of goodwill and other intangible assets;
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maintaining adequate internal controls;
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availability, terms, and use of capital;
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acquisitions, purchase of non controlling interests (minority
interests) and the successful integration of the operations of the
acquired businesses; and
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weather and other seasonal factors.
Many factors are beyond our control. Given these uncertainties, you
should not place undue reliance on our forward-looking statements.
Please see our periodic reports filed with the Securities and Exchange
Commission for more information on these factors. Our forward-looking
statements represent our estimates and assumptions only as of the date
of this press release. Except as required by law, we are under no
obligation to update any forward-looking statement, regardless of the
reason the statement is no longer accurate.
Copyright Business Wire 2014