U.S. Physical Therapy assumed with a Market Perform at William Blair

William Blair assumed coverage of U.S. Physical Therapy with a Market Perform rating. Ahead of the Q4 earnings cycle, the analyst assumed coverage of four companies in the post-acute care subsector. The firm believes the post-acute care segment of the care continuum provides compelling growth characteristics for long-term investors. It continues to view the sector as presenting a “large and growing market opportunity.” Medicare spends an estimated $76B per year on core post-acute care services via home health, hospice, inpatient rehabilitation facilities and skilled nursing facilities, the analyst tells investors in a research note. Blair also sees “multiple tailwinds” to demand for post-acute care delivery over the coming years, citing several core macro trends impacting the healthcare sector.