U.S. Physical Therapy acquires 50% equity interest in PT practice for $16.4M

U.S. Physical Therapy announced the acquisition of a physical therapy and hand therapy practice with nine clinic locations. USPH acquired a 50% equity interest in the practice for a purchase price of $16.4M with the current practice owners retaining a 50% interest. The business currently generates approximately $11.4M in annual revenues and approximately 65,000 annual visits. Chris Reading, Chief Executive Officer, said, “This will be a great partnership addition to an already strong market for us. Our newest partners have done an exceptional job with a nicely developed workers comp centric mix of business and an appetite to grow in this and surrounding markets.”