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Form 8-K U S PHYSICAL THERAPY For: Mar 02

March 2, 2016 4:10 PM EST
 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 2, 2016
 
 
U.S. PHYSICAL THERAPY, INC.
(Exact name of registrant as specified in its charter)
 
 
 
         
Nevada
 
1-11151
 
76-0364866
(State or other jurisdiction
of incorporation or organization)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
 
     
1300 West Sam Houston Parkway South,
Suite 300, Houston, Texas
 
77042
(Address of Principal Executive Offices)
 
(Zip Code)
Registrant's telephone number, including area code: (713) 297-7000
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 



ITEM 8.01   OTHER EVENTS
On, March 2, 2016, U.S. Physical Therapy, Inc. (the "Company") announced that the Company recently completed an acquisition. In the most recent transaction, the Company acquired a 55% interest in an eight location physical therapy practice.  The business has approximately 65,000 patient visits per year and generates $9.0 million in annual revenue. The purchase price was $13.7 million.
 
ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS
 
     
Exhibits
  
Description of Exhibits
   
99.1
  
 Registrant's press release dated March 2, 2016.*
 
* Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
               
 
 
 
 
U.S. PHYSICAL THERAPY, INC.
 
         
Dated: March 2, 2016
 
 
 
By:
 
/s/ LAWRANCE W. MCAFEE
 
 
 
 
 
 
 
Lawrance W. McAfee
 
 
 
 
 
 
 
Chief Financial Officer
 
 
 
 
 
 
 
(duly authorized officer and principal
           fianancial and accounting officer)
 


















EXHIBIT 99.1
 
 
 
CONTACT:
U.S. Physical Therapy, Inc.
Larry McAfee, Chief Financial Officer                                                                                                                    
Chris Reading, Chief Executive Officer
(713) 297-7000
 
U.S. Physical Therapy
Acquisition Announcement


Houston, TX, March 2, 2016 – U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of outpatient physical therapy clinics, announced that this week the Company completed an acquisition. In the most recent transaction, the Company acquired a 55% interest in an eight location physical therapy practice.  The business has approximately 65,000 patient visits per year and generates $9.0 million in annual revenue. The purchase price was $13.7 million.

Chris Reading, U.S. Physical Therapy Chief Executive Officer, said, "We are extremely pleased to be working with this very capable group of clinician partners and their talented staff of professionals.  They treat some of the most elite athletes in the nation while also providing terrific care and service to all of their patients and to the communities where they serve.  We very much look forward to assisting them with their growth plans.  This is our second acquisition in the past few months."

About U.S. Physical Therapy, Inc.

Founded in 1990, U.S. Physical Therapy, Inc. operates 514 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 21 physical therapy facilities for unaffiliated 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.


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