U.S. Physical Therapy, Inc. ("USPH") (NYSE:USPH), a national operator of outpatient physical therapy clinics and provider of industrial injury prevention services, today announced that it has signed an agreement to purchase a 50% equity interest in a management services organization (the "Company") that provides management and administrative services to 50 physical therapy clinics. The Company expects to close the transaction on October 31, 2024.

The Company manages 50 outpatient clinics, the majority of which are in New York, with plans to further expand in New York and adjacent states. The Company-managed clinics deliver physical, occupational and speech therapy and also provide physical therapy services to patients in their homes. Through its managed therapy providers, the Company currently generates approximately $64.0 million in annual revenue and approximately $12.0 million in annual EBITDA on a consolidated basis. The current owners of the Company will continue to have a 50% ownership interest. The Chief Executive Officer of the Company, who will remain with the Company as its executive leader, joined the Company in 2016 and has grown the group of managed clinics from five clinics to 50 clinics.