USPH Acquires 50% Stake In Nine Clinic Physical Therapy, Hand Therapy Practice For $16.4 Mln

(RTTNews) - Monday, U.S. Physical Therapy, Inc. (USPH) revealed the purchase of a physical therapy and hand therapy practice comprising nine clinic locations.

The acquisition involved USPH obtaining a 50% equity stake in the practice for $16.4 million, while the current owners of the practice retained the remaining 50% ownership.

Chris Reading, chief executive officer, commented, "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."