U.S. Physical Therapy acquires 50% stake in 50-clinic MSO for $76.5M

U S PHYSICAL THERAPY INC /NV

Purchase price $76.5M ($75M cash + $1.5M in USPH stock); sellers can earn up to $20M additional earnout based on performance.
Managed clinics generate ~$64M annual revenue and ~$12M annual EBITDA; majority in New York with plans for regional expansion.
Existing owners retain 50% interest; CEO who grew clinics from 5 to 50 will continue as executive leader.
Expected close October 31, 2024, subject to customary conditions.

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