U.S. Physical Therapy Makes 14 Clinic Acquisition

U.S. Physical Therapy, Inc. USPH has acquired a majority interest in a 14 clinic physical therapy group located in the Southeast. The practice presently sees approximately 100,000 patient visits per year and produces approximately $9.0 million in annual revenue. The purchase price for U.S. Physical Therapy's 65% acquired interest was $4,770,000 which was financed with available cash, borrowings under the Company's credit line and a seller note.