U.S. Physical Therapy Announces Acquisition of an Industrial Injury Prevention Services and Ergonomics Software Business
November 01 2023 - 8:30AM
Business Wire
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 (“IIP”) services,
today announced the acquisition of an IIP services and ergonomics
software business by one of its two primary IIP companies, Briotix
Health Limited Partnership (“Briotix”). In addition to increasing
its IIP services business, the newly created ergonomics software
provides an exciting new solution to add to Briotix’s offerings to
existing and potential customers.
Briotix purchased all of the IIP services business and a 55%
equity interest in the ergonomics software business for a total
purchase price of approximately $4.0 million. The combined
businesses currently generate approximately $2.6 million in annual
revenues.
Chris Reading, Chief Executive Officer, said, “The founders of
the business, whom we have known for a good while, are of
outstanding character and ability, and will be a great addition to
our very capable Briotix team. We are particularly excited about
the growth potential of the software business which will enable us
to serve an even broader audience relating to their ergonomic
program needs.”
About U.S. Physical Therapy,
Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 675
outpatient physical 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 42 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 clients’ employees including injury
prevention and rehabilitation, performance optimization, post-offer
employment testing, functional capacity evaluations, and ergonomic
assessments.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231101557910/en/
U.S. Physical Therapy, Inc. Carey Hendrickson, Chief Financial
Officer email: chendrickson@usph.com
Chris Reading, Chief Executive Officer (713) 297-7000
Three Part Advisors Joe Noyons (817) 778-8424
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