Physical Therapy, Inc, a national operator of physical and occupational therapy outpatient clinics, has acquired a 65% interest in Rehab Management Group (“RMG”).
RMG’s founders are partners with U.S. Physical Therapy in OsteoArthritis Centers of America. RMG provides physicians and their patients with clinical services including electro-diagnostic analysis (“EDX”) as well as intra articular joint (“IAJP Direct”) and lumbar osteoarthritis (“LOP Direct”) programs. EDX produces real time physiologic data about nerve and muscle function. IAJP Direct involves viscosupplementation injections used in conjunction with specialized outpatient rehabilitation programs. LOP Direct is a unique procedure for the treatment of osteoarthritis of the spine. The purchase price for USPH’s 65% interest in RMG was approximately $3.1 million. The business currently produces about $800,000 in earnings before interest, taxes, depreciation and amortization (“EBITDA”).
Chris Reading, Chief Executive Officer, said, “The medical programs which Rehab Management Group has developed form the core of our OsteoArthritis Centers of America platform. RMG provides us with the opportunity to expand patient care and services in a variety of settings including within both our outpatient rehab facilities and osteoarthritis centers as well as with musculoskeletal-focused physicians in our many markets.”
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 364 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, non-surgical treatment of osteoarthritis, treatment for neurologically-related injuries and rehabilitation of injured workers. In addition to owning and operating clinics, the Company manages physical therapy facilities for third parties, including hospitals and physician groups.
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.
Contact:
U.S. Physical Therapy, Inc., Houston
Chief Financial Officer
Larry McAfee, 713-297-7000
or
Chief Executive Officer
Chris Reading, 713-297-7000
Source: U.S. Physical Therapy, Inc.
RMG’s founders are partners with U.S. Physical Therapy in OsteoArthritis Centers of America. RMG provides physicians and their patients with clinical services including electro-diagnostic analysis (“EDX”) as well as intra articular joint (“IAJP Direct”) and lumbar osteoarthritis (“LOP Direct”) programs. EDX produces real time physiologic data about nerve and muscle function. IAJP Direct involves viscosupplementation injections used in conjunction with specialized outpatient rehabilitation programs. LOP Direct is a unique procedure for the treatment of osteoarthritis of the spine. The purchase price for USPH’s 65% interest in RMG was approximately $3.1 million. The business currently produces about $800,000 in earnings before interest, taxes, depreciation and amortization (“EBITDA”).
Chris Reading, Chief Executive Officer, said, “The medical programs which Rehab Management Group has developed form the core of our OsteoArthritis Centers of America platform. RMG provides us with the opportunity to expand patient care and services in a variety of settings including within both our outpatient rehab facilities and osteoarthritis centers as well as with musculoskeletal-focused physicians in our many markets.”
About U.S. Physical Therapy, Inc.
Founded in 1990, U.S. Physical Therapy, Inc. operates 364 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, non-surgical treatment of osteoarthritis, treatment for neurologically-related injuries and rehabilitation of injured workers. In addition to owning and operating clinics, the Company manages physical therapy facilities for third parties, including hospitals and physician groups.
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.
Contact:
U.S. Physical Therapy, Inc., Houston
Chief Financial Officer
Larry McAfee, 713-297-7000
or
Chief Executive Officer
Chris Reading, 713-297-7000
Source: U.S. Physical Therapy, Inc.
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