On September 3, U.S. Physical Therapy, Inc. announced the acquisition of a physical therapy and hand therapy practice in Pennsylvania. The practice has eight clinic locations across the state, which currently generate approximately $5.5 million in annual revenues.
Founded in 1990, U.S. Physical Therapy, Inc. operates more than 680 outpatient physical therapy clinics in 42 states. The company’s clinics provide preventive 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.
U.S. Physical Therapy acquired a 70% interest in the target with the current owners retaining a 30% ownership interest. Financial terms of the deal were not disclosed.
This deal marks U.S. Physical Therapy’s third transaction of 2024. In April, it acquired a physical therapy and hand therapy practice with nine clinic locations, generating approximately $11.4 million in annual revenues. That practice was acquired for a purchase price of $16.4 million. Then, in May, U.S. Physical Therapy acquired a two-clinic physical therapy practice with approximately $1 million in annual revenue.
According to data captured in the LevinPro HC database, this acquisition marks the 25th Rehabilitation deal announced so far during 2024. This is a 31% decrease from last year, when 36 Rehabilitation transactions were announced between January 1, 2023, and September 3, 2023.
